5-Unit Renovated Apartment
1628 Walnut Street, Jacksonville, FL 32206
For Sale
$795,000
Four two-bedroom layouts and a full-floor one-bedroom unit create a varied residential mix.
Property Size3,832 SF
Price / SF$207.46
Days on Market242
Property Features for 1628 Walnut Street
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
air conditioned/heated hallways
communal laundry
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Units
Construction
Listing Agency:
COMPASS FLORIDA LLC
(904) 413-0119
Listed By:
NICHOLAS D SALTER · License #3439474
(954) 670-4252
Source:
Boldandsold
Added: Mar 11
Changed: Nov 4
Last Checked: Nov 6 at 12:51AM
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
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Investment Insights
Based on property information with market context.
This 3,832-square-foot apartment building dates to 1909 and received a full interior and exterior renovation in 2025. Its five units comprise four two-bedroom, two-bath apartments and a one-bedroom, one-bath residence occupying the entire third floor. Renovated interiors include new flooring, kitchens, bathrooms, plumbing, electrical systems, and appliances. Heated and air-conditioned hallways serve the building, with shared laundry on the first and second floors.
The property is at 1628 Walnut Street in Jacksonville’s Springfield neighborhood, approximately 1 mile north of downtown. It is zoned Commercial/Residential/Office and is fully occupied.
The property is at 1628 Walnut Street in Jacksonville’s Springfield neighborhood, approximately 1 mile north of downtown. It is zoned Commercial/Residential/Office and is fully occupied.
Key Highlights
- Five apartment units: four 2‑bedroom, 2‑bath layouts and one 1‑bedroom, 1‑bath unit
- 3,832 square feet; 1909 construction with interior and exterior restoration in 2025
- Third‑floor residence occupies the entire floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,350
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,000
$567.0K
Cap Rate 7%
$405,000
$405.0K
Cap Rate 9%
$315,000
$315.0K
Market Conditions
NOI Build-Up for 3,832 SF
Gross rent
$57.0K $14.88/SF
− Vacancy
−$5.5K −$1.43/SF
EGI
$51.5K $13.45/SF
− OpEx
−$23.2K −$6.05/SF
NOI
$28.4K $7.40/SF
Area
Jacksonville, FL
Vacancy
9.60%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,000
Cap Rate 7%
$405,000
Cap Rate 9%
$315,000
Alternative Uses
Best Use
Apartment 5plus
$405.0K
$354.4K – $472.5K
NOI $28,350 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$918.5K – $1.22M
NOI $73,482 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,141
Businesses Nearby
Explore this area
Business Placement
Demographics for 32206, FL
18,283
Population
9,415
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
82%
High-School Grad
6.2 sq mi
ZIP Area
2,949
Density / Sq Mi
$37,585
Median Household Income
$34,353
Median Earnings
$866
Median Rent
$153,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Jacksonville, FL
Properties on Market for Apartment buildings in Jacksonville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Four two-bedroom layouts and a full-floor one-bedroom unit create a varied residential mix.
Where is this apartment building located?
The property is located at 1628 Walnut Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Five apartment units: four 2‑bedroom, 2‑bath layouts and one 1‑bedroom, 1‑bath unit; 3,832 square feet; 1909 construction with interior and exterior restoration in 2025; Third‑floor residence occupies the entire floor
