Log In/Sign Up
Your email has been sent.
640 Detroit St 8 Unit Apartment Building $925,000 ($115,625/Unit) 6.50% Cap Rate Jacksonville, FL 32254
Executive Summary
8 Unit, Concrete Block, Professionally Managed Apartment Building on Huge Lot w/ Additional Developmental Upside or Value-Add by Selling Extra Land. Renew rents at increase to boost cap rate from a 6.5% at takeover to 7.08% first year.
Cost Analysis Performed as Rental Property
In:
Rent - $89,952.00
Out:
(Annual) Property Taxes - $11,227.00
(Annual) Estimated Insurance - $7,080.00
(Annual) Property Management (Optional) - $7,196.16
(Annual) Estimated Utilities/Lawn/Repair/Misc. - $4,544.28
Total Costs - $30,047.44
Net: $59,904.56
Earn:
Total yearly net equates to - $59,904.56
Total monthly gross equates to - $7,496.00
TOTAL MONTHLY NET EQUATES TO - $4,992.05
Cost Analysis Performed as Rental Property
In:
Rent - $89,952.00
Out:
(Annual) Property Taxes - $11,227.00
(Annual) Estimated Insurance - $7,080.00
(Annual) Property Management (Optional) - $7,196.16
(Annual) Estimated Utilities/Lawn/Repair/Misc. - $4,544.28
Total Costs - $30,047.44
Net: $59,904.56
Earn:
Total yearly net equates to - $59,904.56
Total monthly gross equates to - $7,496.00
TOTAL MONTHLY NET EQUATES TO - $4,992.05
Property Facts
| Price | $925,000 | Apartment Style | Garden |
| Price Per Unit | $115,625 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.01 AC |
| Cap Rate | 6.50% | Building Size | 5,408 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1960/2025 |
| Zoning | RMD-D - Residential Medium Density-D | ||
| Price | $925,000 |
| Price Per Unit | $115,625 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.01 AC |
| Building Size | 5,408 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2025 |
| Zoning | RMD-D - Residential Medium Density-D |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Refrigerator
- Oven
- Range
- Carpet
- Yard
Site Amenities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | 675 |
1 1
Property Taxes
| Parcel Number | 057504-0000 | Improvements Assessment | $544,317 |
| Land Assessment | $76,762 | Total Assessment | $621,079 |
Property Taxes
Parcel Number
057504-0000
Land Assessment
$76,762
Improvements Assessment
$544,317
Total Assessment
$621,079
1 of 29
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Contact the Sale Advisor
640 Detroit St
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.