Riverside/Avondale Multifamily Investment
1257 MCDUFF S Avenue Jacksonville, FL 32205
For Sale
$1,495,000
Pending
Two six-unit properties in Riverside/Avondale with significant rental upside.
Property Size7,632 SF
Lot Size0.39 Acres
Days on Market695
Property Features for 1257 MCDUFF S Avenue
General Information
Standard status
Pending
Size
7,632 SF
Lot size
0.39 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1929
Listing Agency:
WARREN & COMPANY
(904) 673-8622
Listed By:
SIMON GARWOOD · License #3180526
(904) 673-8622
Source:
Exitrealty
Added: Sep 1, 2024
Changed: Jul 6
Last Checked: Jul 23 at 5:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WARREN & COMPANY
Investment Insights
Based on property information with market context.
This investment opportunity features two six-unit properties located in the Riverside/Avondale submarket, specifically at 1257 & 1267 McDuff. Each property comprises six units, configured as a quadruplex with a detached duplex, with all units offering a 1/1 layout. The properties are currently 100% occupied. There is a significant opportunity to increase rents, as the current gross rent is $3,500-$4,000 per month below market rates. The property includes a large, off-street parking lot with designated parking spaces, as well as bonus carports and storage units. Since 2021, over $200,000 has been invested in extensive capital improvements, including upgrades to kitchens and bathrooms, flooring, plumbing, and electrical systems. Additional improvements include new fencing, landscaping, and an outdoor grilling pit. The roof was replaced in 2019. Riverside/Avondale is known for its high tenant quality and is a sought-after location for apartment seekers in Jacksonville. The property size is 7632 square feet. This listing includes both properties.
Key Highlights
- Significant rental income upside with rents currently $3,500-$4,000/month below market.
- Two properties totaling 12 units in the desirable Riverside/Avondale submarket.
- Enjoy a 100% occupancy rate.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.6k | $14.88 |
| − Vacancy | −$10.9k | −$1.43 |
| EGI | $102.7k | $13.45 |
| − OpEx | −$46.2k | −$6.05 |
| NOI | $56.5k | $7.40 |
7,632 SF · lease $14.88/SF/yr · vacancy 9.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$806.6K
$705.8K – $941.1K
NOI $56,464 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,351 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Two six-unit properties in Riverside/Avondale with significant rental upside.
Where is this apartment building located?
The property is located at 1257 MCDUFF S Avenue Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Significant rental income upside with rents currently $3,500-$4,000/month below market.; Two properties totaling 12 units in the desirable Riverside/Avondale submarket.; Enjoy a 100% occupancy rate.
