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5601 California Ave
Jacksonville, FL 32244
Westcreek II · Multifamily Property For Sale
·
72 Units
PROPERTY FACTS
| No. Units | 72 | Lot Size | 2.85 AC |
| Property Type | Multifamily | Building Size | 36,576 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1987 |
| Building Class | B | Parking Ratio | 2.41/1,000 SF |
| Zoning | RMD-D | ||
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.85 AC |
| Building Size | 36,576 SF |
| No. Stories | 1 |
| Year Built | 1987 |
| Parking Ratio | 2.41/1,000 SF |
| Zoning | RMD-D |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
ABOUT 5601 CALIFORNIA AVE , JACKSONVILLE, FL 32244
The property is situated in a residential neighborhood with several other apartment communities in the immediate vicinity. The neighborhood is stable and convenient to employment centers, shopping, schools, restaurants and entertainment. The property is convenient to public transportation, with immediate vehicular access to I-295. Shopping plazas anchored by Publix and Rowe’s are nearby, as well as pharmacies, schools and other essential goods and services. West Creek II Apartments offers an investor a terrific opportunity to acquire a centrally located, well maintained asset with true upside through additional interior renovations, increasing rents on the market comparable rents while maintaining a steady positive cash flow. West Creek II is offered to the investment community at an asking price of $4,250,000, at 72 units this is equal to $59,028 per unit, the current operation yields 6.46% Capitalization Rate Return. By managing the property more efficiently and raising the current rents a person can theoretically yield a 7.78% Proforma CapRate Return.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 22 | $486.00 | 288 |
| 1+1 | 45 | $598.00 | 576 |
| 2+1 | 2 | $710.00 | 864 |
| 2+2 | 3 | $703.00 | 864 |
PROPERTY TAXES
| Parcel Number | 013641-0000 | Improvements Assessment | $2,811,919 |
| Land Assessment | $1,747,781 | Total Assessment | $4,559,700 |
PROPERTY TAXES
