Quadplex With
For Sale
$595,000
Pending
1805 PERRY Place, Jacksonville, FL 32207
MULTI_FAMILY - Jacksonville, FL
Property Size2,403 SF
Lot Size0.13 Acres
Days on Market95
Property Features for 1805 PERRY Place
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1
Parking features
Off Street
Exterior features
Courtyard
Fencing
Chain Link
Appliances
Dryer, Electric Range, Microwave, Refrigerator, Washer
Subdivision
Fletcher Park
Lot features
Corner Lot
Directions
Head towards downtown on San Jose, turn rt on Atlantic Blvd and left on Perry.
Standard status
Pending
APN
0815690010
Size
2,403 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4917
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Window Unit(s), Electric, Wall/Window Unit(s), Central Air
Water source
Public
Amenities
downstairs porches
upstairs balcony
shared courtyard
Building Details
Year built
1918
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile, Laminate
Roof type
Shingle
Listing Agency:
HOVER GIRL PROPERTIES
(904) 860-9831
Listed By:
JOSHUA BOWLING · License #3527638
(910) 803-4602
Added: May 8
Changed: Aug 2
Last Checked: Aug 10 at 3:06PM
MLS# 2144140
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully occupied quadplex offers four distinct residences within a historic 1918 structure on a 0.13-acre lot. The property includes a spacious lower-level two-bedroom, one-bath apartment with private laundry and a fireplace, an additional lower-level one-bedroom unit, an upstairs studio apartment, and a detached one-bedroom studio apartment. Interior finishes include a mix of hardwood, LVP, and tile flooring, and residents have shared outdoor space with a spacious courtyard, plus downstairs porches and an upstairs balcony. Off-street parking is available.
Recent major updates include a shingle roof installed in 2018, two lower-unit A/C systems updated in 2019, upstairs window A/C replaced in 2025, and all four water heaters updated in 2025. The property is served by public water and public sewer, with cable available.
Utilities and system improvements support ongoing residential use across the four units, while the shared courtyard and multiple outdoor gathering areas add day-to-day livability for residents.
Recent major updates include a shingle roof installed in 2018, two lower-unit A/C systems updated in 2019, upstairs window A/C replaced in 2025, and all four water heaters updated in 2025. The property is served by public water and public sewer, with cable available.
Utilities and system improvements support ongoing residential use across the four units, while the shared courtyard and multiple outdoor gathering areas add day-to-day livability for residents.
Key Highlights
- Fully occupied quadplex with four residential units
- 0.13‑acre lot with 2,403 SF total building area
- Historic 1918 construction with shingle roof
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
$22,564
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
3.79%
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%
$451,280
$451.3K
Cap Rate 7%
$322,343
$322.3K
Cap Rate 9%
$250,711
$250.7K
Market Conditions
NOI Build-Up for 2,403 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
$35.5K $14.76/SF
− Vacancy
−$3.2K −$1.35/SF
EGI
$32.2K $13.41/SF
− OpEx
−$9.7K −$4.02/SF
NOI
$22.6K $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%
$451,280
Cap Rate 7%
$322,343
Cap Rate 9%
$250,711
Alternative Uses
Best Use
Multifamily LT 5
$322.3K
$282.1K – $376.1K
NOI $22,564 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$254.0K
$222.2K – $296.3K
NOI $17,778 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$658.3K
$576.0K – $768.0K
NOI $46,080 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,525
Businesses Nearby
Explore this area
Business Placement
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
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 - Fully occupied 4-unit quadplex with courtyard, off-street parking, and public water and sewer.
Where is this quadplex located?
The property is located at 1805 PERRY Place Jacksonville, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Fully occupied quadplex with four residential units; 0.13‑acre lot with 2,403 SF total building area; Historic 1918 construction with shingle roof
