Multifamily Property
For Sale
$2,814,000
2564 W 23RD Street, Jacksonville, FL 32209
The portfolio combines multiple buildings with unit-specific variations in air conditioning and heating.
Property Size11,749 SF
Price / SF$239.51
Days on Market16
Property Features for 2564 W 23RD Street
General Information
Standard status
Active
Size
11,749 SF
Property subtype
Residential Income
Net Operating Income
$172,306
Taxes and HOA fees
Annual Taxes
$36,391
Amenities
Central Air, Varies by Unit, Wall/Window Unit(s)
Central, Varies by Unit
Electric Range, Refrigerator
Other
Building Details
Year Built
1968
Buildings
7
Listing Agency:
Cowford Realty & Design
Listed By:
CARMEN GODWIN · License #SL3528670
(904) 708-0825
Source:
Evrealestate
Added: Sep 21
Changed: Sep 30
Last Checked: Oct 5 at 6:16PM
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 Cowford Realty & Design
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises 7 buildings across 6 properties. The buildings have a combined reported size of 11,749 square feet and were built in 1968.
Heating and cooling systems vary by unit; reported features include central air, wall or window units, and central heating. Electric ranges and refrigerators are also included.
Heating and cooling systems vary by unit; reported features include central air, wall or window units, and central heating. Electric ranges and refrigerators are also included.
Key Highlights
- 7 buildings across 6 properties
- 11,749 square feet across the portfolio
- Built in 1968
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,923
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,738,460
$1.7M
Cap Rate 7%
$1,241,757
$1.2M
Cap Rate 9%
$965,811
$965.8K
Market Conditions
NOI Build-Up for 11,749 SF
Gross rent
$174.8K $14.88/SF
− Vacancy
−$16.8K −$1.43/SF
EGI
$158.0K $13.45/SF
− OpEx
−$71.1K −$6.05/SF
NOI
$86.9K $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%
$1,738,460
Cap Rate 7%
$1,241,757
Cap Rate 9%
$965,811
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,923 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.22M
$2.82M – $3.75M
NOI $225,299 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
273
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Residential income property - The portfolio combines multiple buildings with unit-specific variations in air conditioning and heating.
Where is this residential income property located?
The property is located at 2564 W 23RD Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,814,000.
What are key features of this property?
This property features: 7 buildings across 6 properties; 11,749 square feet across the portfolio; Built in 1968
