Remodeled 4-Unit
For Sale
$465,000
1326 W 15th Street, Jacksonville, FL 32209
Tenant-occupied residential income property with consistent two-bedroom layouts and one bathroom per unit.
Property Size2,704 SF
Days on Market251
Property Features for 1326 W 15th Street
General Information
Standard status
Active
Size
2,704 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,311
Building Details
Building Size
2,704 SF
Year Built
1956
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
COMPASS FLORIDA LLC
(904) 290-5027
Listed By:
KYLE BOSWORTH · License #3345534
(904) 290-5027
Source:
Modernrealtyputnam
Added: Dec 4, 2025
Changed: Aug 12
Last Checked: Aug 12 at 12:12PM
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 COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
This remodeled quadplex contains four residential units, each configured with two bedrooms and one bathroom. The property was built in 1956 and is currently tenant-occupied, providing an established residential income profile for an owner seeking a multifamily asset.
The property is positioned in Jacksonville near major highways, shopping, schools, and public transportation. Its repeated unit layout creates a straightforward configuration across the building, while the existing occupancy supports immediate continuity of residential use. A rent roll is available upon request.
The property is positioned in Jacksonville near major highways, shopping, schools, and public transportation. Its repeated unit layout creates a straightforward configuration across the building, while the existing occupancy supports immediate continuity of residential use. A rent roll is available upon request.
Key Highlights
- Four‑unit quadplex with each residence offering 2 bedrooms and 1 bathroom
- Remodeled multifamily property
- Tenant‑occupied residential income asset
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
$25,390
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
5.46%
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%
$507,800
$507.8K
Cap Rate 7%
$362,714
$362.7K
Cap Rate 9%
$282,111
$282.1K
Market Conditions
NOI Build-Up for 2,704 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
$39.9K $14.76/SF
− Vacancy
−$3.6K −$1.35/SF
EGI
$36.3K $13.41/SF
− OpEx
−$10.9K −$4.02/SF
NOI
$25.4K $9.39/SF
Area
Jacksonville, FL
Vacancy
9.12%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
30.00%
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%
$507,800
Cap Rate 7%
$362,714
Cap Rate 9%
$282,111
Alternative Uses
Best Use
Multifamily LT 5
$362.7K
$317.4K – $423.2K
NOI $25,390 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$285.8K
$250.1K – $333.4K
NOI $20,005 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$740.7K
$648.2K – $864.2K
NOI $51,852 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 32209, FL
36,656
Population
17,706
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
82%
High-School Grad
9.3 sq mi
ZIP Area
3,942
Density / Sq Mi
$29,468
Median Household Income
$26,435
Median Earnings
$1,042
Median Rent
$92,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Tenant-occupied residential income property with consistent two-bedroom layouts and one bathroom per unit.
Where is this quadplex located?
The property is located at 1326 W 15th Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Four‑unit quadplex with each residence offering 2 bedrooms and 1 bathroom; Remodeled multifamily property; Tenant‑occupied residential income asset
