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Brentwood Apartments 519 W 23rd St 4 Unit Apartment Building $349,900 ($87,475/Unit) 9.28% Cap Rate Jacksonville, FL 32206
Investment Highlights
- Newer Roof and Windows
- Good rental market
- Long term tenants
Executive Summary
Investor-ready opportunity in the heart of Jacksonville! This 100% occupied 4-unit quadplex at 519 W 23rd St features four 1BR/1BA units in a solid two-story brick building with strong rental demand and immediate cash flow potential. Major improvements already completed, including a newer roof, updated A/C units, and several newer windows, helping reduce future maintenance costs. Major appliances are already included, and units have hardwood floors throughout. Property is stabilized with long-term tenants already in place who have all been occupants of the building for 3+ years, creating consistent income from day one. This historic charmer is located in a high-demand rental corridor near Downtown Jacksonville, UF Health, major employers, highways, and redevelopment activity. Excellent opportunity for investors seeking a turnkey multifamily asset with strong cash flow, low vacancy history, and long-term upside. Perfect for buy-and-hold investors looking to expand their portfolio in one of Jacksonville's in-demand rental markets.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$37,800
|
$12.35
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$37,800
|
$12.35
|
| Taxes |
$5,136
|
$1.68
|
| Operating Expenses |
$3,300
|
$1.08
|
| Total Expenses |
$8,436
|
$2.76
|
| Net Operating Income |
$29,364
|
$9.60
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $37,800 |
| Annual Per SF | $12.35 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $37,800 |
| Annual Per SF | $12.35 |
| Taxes | |
|---|---|
| Annual | $5,136 |
| Annual Per SF | $1.68 |
| Operating Expenses | |
|---|---|
| Annual | $3,300 |
| Annual Per SF | $1.08 |
| Total Expenses | |
|---|---|
| Annual | $8,436 |
| Annual Per SF | $2.76 |
| Net Operating Income | |
|---|---|
| Annual | $29,364 |
| Annual Per SF | $9.60 |
Property Facts Under Contract
| Price | $349,900 | Building Class | C |
| Price Per Unit | $87,475 | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 3,060 SF |
| Cap Rate | 9.28% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1950/2023 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RLD-60 | ||
| Price | $349,900 |
| Price Per Unit | $87,475 |
| Sale Type | Investment |
| Cap Rate | 9.28% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 3,060 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2023 |
| Opportunity Zone |
Yes |
| Zoning | RLD-60 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $835.00 | 765 |
| 1+1 | 1 | $775.00 | 765 |
| 1+1 | 1 | $740.00 | 765 |
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 087498-0000 | Total Assessment | $235,050 (2026) |
| Land Assessment | $14,018 (2026) | Annual Taxes | $5,136 ($1.68/SF) |
| Improvements Assessment | $221,032 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
087498-0000
Land Assessment
$14,018 (2026)
Improvements Assessment
$221,032 (2026)
Total Assessment
$235,050 (2026)
Annual Taxes
$5,136 ($1.68/SF)
Tax Year
2025
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Brentwood Apartments | 519 W 23rd St
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