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Multifamily Property For Sale in Jacksonville Florida

This Florida Investment Property is Off-Market.
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O’Reilly Commercial Realty LLC
Patrick O’Reilly
Phone: (352) 237-2222
Email: OreillyCommercialRE@gmail.com

Cypress Landing

4813 Moncrief Road, Jacksonville, FL 32209

Price:
$4,100,000
No. Units:
136
Building Size:
112,880 SF
Price per Unit:
$30,147.06
Property Type:
Multifamily
Property Sub-type:
Garden – Low-Rise
Property Use Type:
Investment
Cap Rate:
9.38%
No. Stories:
2
Year Built:
1967
APN / Parcel ID:
030056-0000

 

Highlights of Jacksonville Multifamily Investment Property

  • 100% Vacant Value Add Opportunity
  • Concrete Block Construction
  • Significant Upside Through Continued Renovations & Lease Up
  • Centrally Located Within Minutes to Interstate 95 and 4 Miles From Downtown Jacksonville
  • Annual Submarket Rent Growth of 3.3% for FYE 2015Q3
  • Frontage to Moncrief Road With Over 15,000 Vehicles Per Day

Description of Florida Commercial Property

The Cypress Landing Apartments is a 136-unit garden-style community located in the heart of Jacksonville, Florida, within Duval County. Delivered in 1967, this asset consists of eight two-story concrete block buildings, situated on an approximately 4.49 acre parcel. The property is conveniently located less than one mile west of Interstate 95 – the primary transportation artery for Florida’ s east coast and the eastern United States. I-95 provides rapid access to Jacksonville’ s scenic downtown which is only 4.3 miles south of the property. Situated on the banks of the St. John’ s River, downtown Jacksonville offers numerous employment, health care, shopping and entertainment options. Also 4.3 miles to the south of Cypress Landing is Interstate 10 which provides residents direct access to the Interstate 295 beltway and all local and regional employment centers. Jacksonville International Airport is easily accessed as well; the airport is located 12.2 miles north on I-95.

Within five minutes of Cypress Landing’ s location on Moncrief Road, residents are afforded multiple retail, educational and health care destinations. The Publix Supermarket-anchored Gateway Town Center is only 1.7 miles away and includes a Walgreens pharmacy, YouFit health club and numerous local and national restaurant brands. Saint Clair Evans Academy, Northwestern Middle School and A. Philip Randolph Academies are all located within one mile of the property. University of Florida Health Science Center Jacksonville is only 2.5 miles to the south.

Financial Summary

$384,580

4813 Moncrief Road, Jacksonville, Florida 32209 (Duval County)

Listing information courtesy of Marcus & Millichap. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, solely to identify potential properties for potential purchase.