Four-Unit Multifamily Income
3643 HERSCHEL Street Jacksonville, FL 32205
For Sale
$899,000
Fully occupied 4-unit multifamily with off-street parking and in-unit and shared laundry setups across units.
Property Size3,708 SF
Price / SF$242.45
Days on Market731
Property Features for 3643 HERSCHEL Street
General Information
- Standard status
- Active
- Size
- 3,708 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1928
Listing Agency:
SEVEN BRIDGES REALTY GROUP LLC
(904) 465-1663
Listed By:
DAVID DAWKINS · License #3373490
(904) 465-1663
Source:
Exitrealty
Added: Jul 23, 2024
Changed: Jul 22
Last Checked: Jul 23 at 8:16AM
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 SEVEN BRIDGES REALTY GROUP LLC
Investment Insights
Based on property information with market context.
Fully occupied 4-unit multifamily located at 3643 HERSCHEL Street. The front building offers two large 2-bedroom units, each featuring a large kitchen with island and granite countertops, in-unit washer/dryer, well-maintained hardwood floors, and a combined walk-in closet/laundry room area. The rear building includes one 1-bedroom unit and one studio unit that share a washer and dryer.
A driveway off Dancy Street provides options for off-street parking. Current gross rents total $6,182 (including utility reimbursements) and are scheduled to increase to $6,241 in October. The property is described as being just a short 5-minute walk from the Shoppes of Avondale entertainment district.
A driveway off Dancy Street provides options for off-street parking. Current gross rents total $6,182 (including utility reimbursements) and are scheduled to increase to $6,241 in October. The property is described as being just a short 5-minute walk from the Shoppes of Avondale entertainment district.
Key Highlights
- Fully occupied 4‑unit multifamily with Year Built 1928
- Front building: two 2‑bedroom units with large kitchens, in‑unit washer/dryers, and hardwood floors
- Front units feature a walk‑in closet/laundry room combo
Financial Insights For Multifamily LT 5
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 | $54.7k | $14.76 |
| − Vacancy | −$5.0k | −$1.35 |
| EGI | $49.7k | $13.41 |
| − OpEx | −$14.9k | −$4.02 |
| NOI | $34.8k | $9.39 |
3,708 SF · lease $14.76/SF/yr · vacancy 9.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$497.4K
$435.2K – $580.3K
NOI $34,817 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$391.9K
$342.9K – $457.2K
NOI $27,433 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$1.02M
$888.8K – $1.19M
NOI $71,105 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fully occupied 4-unit multifamily with off-street parking and in-unit and shared laundry setups across units.
Where is this quadplex located?
The property is located at 3643 HERSCHEL Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Fully occupied 4‑unit multifamily with Year Built 1928; Front building: two 2‑bedroom units with large kitchens, in‑unit washer/dryers, and hardwood floors; Front units feature a walk‑in closet/laundry room combo
