817 Cedar St
3 Unit Apartment Building $625,000 ($208,333/Unit) 5.43% Cap Rate Jacksonville, FL 32207
INVESTMENT HIGHLIGHTS
- Fully Renovated Multifamily in San Marco – Prime investment opportunity in one of Jacksonville’s most sought-after neighborhoods.
- Updated Interiors & Major Capital Improvements – New roof (2024), modern appliances, updated flooring, and low-maintenance investment.
- High Demand Rental Market – Located in San Marco, minutes from downtown Jacksonville, Baptist Medical Center, boutique shopping, and dining
- Three Income-Producing Units – Includes a two-story duplex with (2) 2-bed/1-bath units and a 1-bed/1-bath garage apartment for additional rental incom
- Zoned CRO (Commercial Residential Office) – Flexible use potential, allowing for long-term rentals, short-term leasing, or owner-occupancy with rental
- Strong Market Appreciation & Growth – Low vacancy rates, rising property values, and 6% annual rent growth in the submarket.
EXECUTIVE SUMMARY
Prime Investment Opportunity – Fully Renovated Multifamily in San Marco
Located in Jacksonville’s highly sought-after San Marco neighborhood, this three-unit multifamily property at 817 Cedar Street presents a turnkey investment with strong rental income and long-term appreciation potential. Built in 1939, this property has retained its historic charm while undergoing modern renovations, including a new roof in 2024 and updated interiors featuring contemporary appliances, flooring, and fixtures.
The property consists of two buildings: a two-story duplex and a detached three-car garage with an apartment above. The duplex features two spacious 2-bedroom, 1-bath units, each approximately 980 square feet, while the garage apartment offers a 1-bedroom, 1-bath layout spanning 700 square feet, ideal for additional rental income or an on-site manager's residence. With a current vacancy in one of the duplex units, investors have an immediate opportunity to increase rental rates to market levels and enhance overall cash flow.
Strategically positioned in San Marco, the property is within walking distance of boutique shopping, renowned dining options, major employers, and public transit, making it highly attractive to long-term tenants and short-term rental opportunities. The neighborhood is known for its tree-lined streets, historic architecture, and vibrant community, contributing to rising property values and steady rental demand. With proximity to Baptist Medical Center, downtown Jacksonville, I-95, and the Riverwalk, the location ensures low vacancy rates and consistent tenant interest.
Located in Jacksonville’s highly sought-after San Marco neighborhood, this three-unit multifamily property at 817 Cedar Street presents a turnkey investment with strong rental income and long-term appreciation potential. Built in 1939, this property has retained its historic charm while undergoing modern renovations, including a new roof in 2024 and updated interiors featuring contemporary appliances, flooring, and fixtures.
The property consists of two buildings: a two-story duplex and a detached three-car garage with an apartment above. The duplex features two spacious 2-bedroom, 1-bath units, each approximately 980 square feet, while the garage apartment offers a 1-bedroom, 1-bath layout spanning 700 square feet, ideal for additional rental income or an on-site manager's residence. With a current vacancy in one of the duplex units, investors have an immediate opportunity to increase rental rates to market levels and enhance overall cash flow.
Strategically positioned in San Marco, the property is within walking distance of boutique shopping, renowned dining options, major employers, and public transit, making it highly attractive to long-term tenants and short-term rental opportunities. The neighborhood is known for its tree-lined streets, historic architecture, and vibrant community, contributing to rising property values and steady rental demand. With proximity to Baptist Medical Center, downtown Jacksonville, I-95, and the Riverwalk, the location ensures low vacancy rates and consistent tenant interest.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Kitchen
- Hardwood Floors
- Refrigerator
SITE AMENITIES
- Laundry Service
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
| 1+1 | 1 | - | - |
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ZONING
| Zoning Code | CRO ((Commercial Residential Office) zoning designation is a mixed-use zoning category that allows for combination of commercial, office, and residential.) |
