Updated Four-Unit
New
For Sale
$375,000
2217 W 39TH Street, Jacksonville, FL 32209
MULTI_FAMILY - Jacksonville, FL
Property Size2,576 SF
Lot Size0.16 Acres
Price / SF$145.57
Days on Market3
Property Features for 2217 W 39TH Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Multi Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 7, Bathroom 1, Bathroom 4, Bedroom 8, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 6
Parking features
Assigned
Appliances
Electric Range, Electric Water Heater, Refrigerator
Subdivision
Royal Terrace Addn
Directions
Hwy 1 West form I95. Right onto Canal St N, Left onto W 33rd St and Right onto Ave B. Property is on the corner of Ave B and W 39th St.
Standard status
Active
APN
0864260000
Size
2,576 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5786
Utilities
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1954
Floors in Building
1
Number of units
4
Flooring type
Tile, Vinyl
Building materials
Block
Listing Agency:
UNITED REAL ESTATE GALLERY
(904) 500-3948
Listed By:
CANDICE WILLIAMS · License #3391672
(904) 614-3353
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 14 at 4:06AM
MLS# 2159829
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.
Located at 2217 W 39TH Street in Jacksonville, this 2,576-square-foot quadplex contains four two-bedroom, one-bath units. Each residence includes a refrigerator, electric range, window or wall A/C, and separately metered electric, water, and sewer service. Assigned parking is provided for the units.
Capital improvements include a new roof and re-roof completed in 2024, complete repiping and redraining, new water heaters, updated electrical wiring, interior paint, remodeled kitchen areas, updated bathrooms, newer window A/C units, and luxury vinyl plank flooring throughout. The property is served by public water and city sewer, with block construction and tile and vinyl flooring.
Two units are leased and two are vacant. The property is HUD approved, and the source information identifies potential use as a PadSplit property. Built in 1954, the asset occupies 0.16 acres in Jacksonville, Duval County, Florida.
Capital improvements include a new roof and re-roof completed in 2024, complete repiping and redraining, new water heaters, updated electrical wiring, interior paint, remodeled kitchen areas, updated bathrooms, newer window A/C units, and luxury vinyl plank flooring throughout. The property is served by public water and city sewer, with block construction and tile and vinyl flooring.
Two units are leased and two are vacant. The property is HUD approved, and the source information identifies potential use as a PadSplit property. Built in 1954, the asset occupies 0.16 acres in Jacksonville, Duval County, Florida.
Key Highlights
- Four‑unit quadplex with four 2‑bedroom, 1‑bath residences
- 2,576 square feet on a 0.16‑acre lot
- New roof and re‑roof completed in 2024
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
$24,188
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
6.45%
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%
$483,760
$483.8K
Cap Rate 7%
$345,543
$345.5K
Cap Rate 9%
$268,756
$268.8K
Market Conditions
NOI Build-Up for 2,576 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
$38.0K $14.76/SF
− Vacancy
−$3.5K −$1.35/SF
EGI
$34.6K $13.41/SF
− OpEx
−$10.4K −$4.02/SF
NOI
$24.2K $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%
$483,760
Cap Rate 7%
$345,543
Cap Rate 9%
$268,756
Alternative Uses
Best Use
Multifamily LT 5
$345.5K
$302.4K – $403.1K
NOI $24,188 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$272.3K
$238.2K – $317.6K
NOI $19,058 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$705.7K
$617.5K – $823.3K
NOI $49,397 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 32209, FL
36,656
Population
17,706
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
82%
High-School Grad
9.3 sq mi
ZIP Area
3,942
Density / Sq Mi
$29,468
Median Household Income
$26,435
Median Earnings
$1,042
Median Rent
$92,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Rehabilitated residential income property with assigned parking, separate utility metering, and individual appliances.
Where is this quadplex located?
The property is located at 2217 W 39TH Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four‑unit quadplex with four 2‑bedroom, 1‑bath residences; 2,576 square feet on a 0.16‑acre lot; New roof and re‑roof completed in 2024
