6-Unit Apartment
For Sale
$1,300,000
2746 VERNON Terrace, Jacksonville, FL 32205
Residential Income, Jacksonville, FL
Property Size5,270 SF
Lot Size0.47 Acres
Price / SF$246.68
Days on Market290
Property Features for 2746 VERNON Terrace
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bedroom 6, Bedroom 5, Bathroom 2, Bathroom 6, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bathroom 5, Bedroom 3, Bedroom 2
Parking features
Parking Lot, Off Street
Appliances
Electric Oven, Electric Range, Electric Water Heater
Subdivision
Riverside
Lot features
Dead End Street, Historic Area
View
River
Directions
St Johns Ave to South on Bayard Pl, left turn on to Vernon Terrace, house on Right at the end of the street.
Standard status
Active
APN
0778490000
Size
5,270 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
17856
Utilities
Utilities
Water Available
Heating system
Central
Cooling system
Central Air
Water source
Public
Water front features
Seawall, River Front
Water front
1
Amenities
river views
dedicated parking lot
laundry areas
Building Details
Year built
1938
Floors in Building
2
Number of units
6
Flooring type
Wood, Tile
Roof type
Shingle
Listing Agency:
SPECTRUM REALTY SERVICES
(904) 389-7311
Listed By:
KATIE L DOYLE
(904) 387-6433
Added: Dec 11, 2025
Changed: Sep 12
Last Checked: Sep 27 at 12:06AM
MLS# 2121273
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1938, this brick apartment property contains six one-bedroom units within 5,270 square feet on a 0.47-acre parcel. The building retains period architectural details while incorporating light interior updates, including new bathroom vanities and several newer water heaters. Wood and tile flooring, central heating and cooling, electric ranges, and electric water heaters serve the units.
The property fronts the river and includes a seawall, along with an off-street parking lot. Two laundry areas provide on-site tenant facilities, while public water is available. Tenants pay electric service only. The property is located on Vernon Terrace in Jacksonville’s Riverside/Avondale Historic District and is offered as-is.
The property fronts the river and includes a seawall, along with an off-street parking lot. Two laundry areas provide on-site tenant facilities, while public water is available. Tenants pay electric service only. The property is located on Vernon Terrace in Jacksonville’s Riverside/Avondale Historic District and is offered as-is.
Key Highlights
- Six 1‑bedroom apartment units in a 5,270‑square‑foot building
- 0.47‑acre riverfront parcel with seawall
- Brick construction dating to 1938
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,989
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$779,780
$779.8K
Cap Rate 7%
$556,986
$557.0K
Cap Rate 9%
$433,211
$433.2K
Market Conditions
NOI Build-Up for 5,270 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$78.4K $14.88/SF
− Vacancy
−$7.5K −$1.43/SF
EGI
$70.9K $13.45/SF
− OpEx
−$31.9K −$6.05/SF
NOI
$39.0K $7.40/SF
Area
Jacksonville, FL
Vacancy
9.60%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$779,780
Cap Rate 7%
$556,986
Cap Rate 9%
$433,211
Alternative Uses
Best Use
Apartment 5plus
$557.0K
$487.4K – $649.8K
NOI $38,989 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,058 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with river frontage, off-street parking, and updated interior features in Jacksonville’s Riverside/Avondale Historic District.
Where is this apartment building located?
The property is located at 2746 VERNON Terrace Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Six 1‑bedroom apartment units in a 5,270‑square‑foot building; 0.47‑acre riverfront parcel with seawall; Brick construction dating to 1938
