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    1521 Mcduff Ave S Jacksonville, FL 32205

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    For Sale
    $689,000

    Four-unit multifamily property in Jacksonville's historic Riverside district.

    Property Features for 1521 Mcduff Ave S

    General Information

    Standard status
    Active
    Zoning
    RMD-B

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    Listing Contact
    Jena Dennis
    Jena Dennis
    Source: Crexi

    Listing Agency: GREAT EXPECTATIONS REALTY Listing Agent: Jena Dennis

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Riverside Multifamily Investment Opportunity

    Located in Riverside’s historic district, 1512 McDuff Avenue is a four-unit multifamily investment offering immediate income with meaningful value-add potential. Constructed in 1942, the two-story brick building features four leased units, providing stable in-place cash flow while allowing upside through renovation and repositioning. The property offers approximately 3,670 square feet of effective interior space, including common areas, and is zoned RMD-B, supporting continued multifamily use. Units are between 820 - 862 sq ft approximately. Each unit includes a functional layout with galley-style kitchens and modern bathrooms, along with a mix of wood and carpeted flooring. While the property is well maintained, the highest and best use is to enhance and modernize to better align with the surrounding Riverside market, where upgraded multifamily properties command premium rents. Surrounded by high-end homes, popular restaurants, and established businesses, this asset represents a strong opportunity for investors seeking long-term growth in one of Jacksonville’s most desirable neighborhoods. Leases: Unit 1 - $975 pm, month-to-month Unit 2 - $1,200 pm, month-to-month Unit 3 - $975 pm, month-to-month Unit 4 - $1,050 pm, month-to-month. Electricity is individually metered, water & sewer master-metered. HVAC in unit 1 & 2 replaced in 2020. Condenser and air handler replaced in unit 1 and 4 in 2005. Plumbing re-pipe unit 4 in 1998.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.699209
    Latitude
    30.3047329

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    FAQs

    What type of property is this?
    Quadplex - Four-unit multifamily property in Jacksonville's historic Riverside district.
    Where is this quadplex located?
    The property is located at 1521 Mcduff Ave S Jacksonville, FL.
    What is the asking price?
    The asking price for this property is $689,000.
    What are key features of this property?
    This property features: - Value-add potential through renovation and repositioning to achieve premium rents.; - Stable in-place cash flow from four leased units, providing immediate income.; - Located in Riverside's historic district, surrounded by high-end homes and popular restaurants.
    (904) 806-4274
    Request Owner's contact information
    1521 Mcduff Ave S Jacksonville, FL 32205
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    Jacksonville, FL 32205
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1521 Mcduff Ave S Jacksonville, FL 32205
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    Listing Contact
    Jena Dennis
    Jena Dennis
    Real Estate License ID: BK3387473
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