Four-Duplex Residential Income
1590 MASTERS DRIVE 1-8 St Augustine, FL 32084
1590 MASTERS DRIVE 1-8, St Augustine, FL, 32084
$2,200,000
Pending
For Sale
$2,200,000
Pending
Four-duplex property in St. Augustine with full occupancy and recent renovations including new flooring, countertops, and fixtures.
Property Size9,064 SF
Days on Market544
Property Features for 1590 MASTERS DRIVE 1-8
General Information
- Standard status
- Pending
- Size
- 9,064 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2006
Listing agency
COLDWELL BANKER COMMERCIAL PREMIER PROPERTIES
(904) 537-6443
Listed by
Eric Maimo · License #3254822
(904) 537-6443
Source
Exitrealty
Added: Jan 24, 2025 Updated: Jul 22 at 3:45AM Checked: Jul 22 at 3:45AM
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 COLDWELL BANKER COMMERCIAL PREMIER PROPERTIES
Investment Insights
Based on property information with market context.
This four-duplex residential income property includes four separate units and is offered for sale with full occupancy. The building has recently been renovated with brand new flooring, countertops, and fixtures, creating a refreshed interior finish across the units.
Located at 1590 Masters Drive (Units 1–8) in St. Augustine, Florida, the property is positioned as a multi-family investment opportunity for buyers seeking an income-producing asset with updated improvements.
The current configuration is a four-duplex setup, and the seller notes that lease rates may be adjusted to align with market trends. The renovations and maintained occupancy support an immediate-use investment profile.
Located at 1590 Masters Drive (Units 1–8) in St. Augustine, Florida, the property is positioned as a multi-family investment opportunity for buyers seeking an income-producing asset with updated improvements.
The current configuration is a four-duplex setup, and the seller notes that lease rates may be adjusted to align with market trends. The renovations and maintained occupancy support an immediate-use investment profile.
Key Highlights
- Four‑duplex property in St. Augustine built in 2006
- Fully occupied at the time of listing
- Recently renovated with brand new flooring
Local 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 | $128.3k | $14.16 |
| − Vacancy | −$13.6k | −$1.50 |
| EGI | $114.7k | $12.66 |
| − OpEx | −$34.4k | −$3.80 |
| NOI | $80.3k | $8.86 |
9,064 SF · lease $14.16/SF/yr · vacancy 10.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,319 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$1.01M
$885.6K – $1.18M
NOI $70,844 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,243 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-duplex property in St. Augustine with full occupancy and recent renovations including new flooring, countertops, and fixtures.
Where is this quadplex located?
The property is located at 1590 MASTERS DRIVE 1-8 St Augustine, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Four‑duplex property in St. Augustine built in 2006; Fully occupied at the time of listing; Recently renovated with brand new flooring
