821-835 Minnie St
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821-835 Minnie St
8 Unit Apartment Building $700,000 ($87,500/Unit) 7% Cap Rate Jacksonville, FL 32204
Investment Highlights
- Located in the Urban Core - Close to the Brooklyn, Riverside, and Murray Hill neighborhoods.
- Units are each 700 Square Feet
- Historical high occupancy - 1 unit is being advertised and 1 unit has been kept vacant for showings.
- 2 Bedroom / 1 Bathroom Units
- All utilities are metered sparately and paid for by Tenant.
Executive Summary
8 Unit (4 Duplex) Multifamily property located in the Urban Core and close to Brooklyn, Riverside and Murray Hill neighboorhoods. The property consists of 8 - 2BR/1BR unts. Seller has upgraded the property with new flooring, bathroom vanities, light fixtures, refridgerators, and stoves. 4 out of 8 of the units have been replumbed as need. Each unit is 700 square feet. All units are separately metered and remain tenant responsibilty. The property has stayed 100% occuppied (1 unit is currently in turn and 1 unit is being kept vacant for showings). This property is back on the Market after the prior Buyer was unable to secure financing for reasons unrelated to the property. Given the significant interest and back-up offers we have received, the Seller is asking for all highest and best offers by Friday, November 22nd at 5:00PM. Please see the attached inspection reports as the Seller is asking for an "as-is" contract. Please contact me about additional information about the property condition. Deference will be given to cash offers that can close quickly.
Data Room Click Here to Access
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $700,000 | Building Class | C |
| Price Per Unit | $87,500 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 5,625 SF |
| Cap Rate | 7% | Average Occupancy | 75% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1951 |
| Property Subtype | Apartment | Parking Ratio | 0.89/1,000 SF |
| Apartment Style | Garden |
| Price | $700,000 |
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 5,625 SF |
| Average Occupancy | 75% |
| No. Stories | 1 |
| Year Built | 1951 |
| Parking Ratio | 0.89/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Yard
- Family Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | 700 |
1 of 1
zoning
| Zoning Code | IL |
| IL |
-
Marc Hassan -
Kim Canaday -
Spectrum Realty Services
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821-835 Minnie St
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