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5601 California Ave
Jacksonville, FL 32244

Westcreek II · Multifamily Property For Sale · 72 Units

PROPERTY FACTS

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

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

PROPERTY TAXES

Parcel Number
013641-0000
Land Assessment
$750,000
Improvements Assessment
$3,966,100
Total Assessment
$4,716,100

zoning

Zoning Code RMD-D
RMD-D
  • Listing ID: 15217496

  • Date on Market: 2/19/2019

  • Last Updated:

  • Address: 5601 California Ave, Jacksonville, FL 32244

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