Riverside Multifamily Investment
For Sale
Contact for pricing
Pending
1521 McDuff Ave S, Jacksonville, FL 32205
Four-unit multifamily property in Jacksonville's historic Riverside district.
Property Size3,670 SF
Days on Market205
Property Features for 1521 McDuff Ave S
General Information
Standard status
Pending
Size
3,670 SF
Class
C
Property subtype
Multifamily
Zoning
RMD-B
Building Details
Buildings
1
Stories
2
Units
4
Listing Agency:
GREAT EXPECTATIONS REALTY
(904) 806-4274
Listed By:
Jena Dennis · License #BK3387473
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Jul 24 at 5:54PM
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 GREAT EXPECTATIONS REALTY
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
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
$34,460
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
5.75%
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%
$689,200
$689.2K
Cap Rate 7%
$492,286
$492.3K
Cap Rate 9%
$382,889
$382.9K
Market Conditions
NOI Build-Up for 3,670 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
$54.2K $14.76/SF
− Vacancy
−$4.9K −$1.35/SF
EGI
$49.2K $13.41/SF
− OpEx
−$14.8K −$4.02/SF
NOI
$34.5K $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%
$689,200
Cap Rate 7%
$492,286
Cap Rate 9%
$382,889
Alternative Uses
Best Use
Multifamily LT 5
$492.3K
$430.8K – $574.3K
NOI $34,460 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$387.9K
$339.4K – $452.5K
NOI $27,152 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$1.01M
$879.7K – $1.17M
NOI $70,376 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,858
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
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 - 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 $599,000.
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.
