Four-Unit
For Sale
$515,000
2614 College St Unit 1-4, Jacksonville, FL 32204
Fully occupied residential income property with one-bedroom, one-bath layouts and documented updates to the roof and air conditioning.
Property Size2,892 SF
Price / SF$178.08
Days on Market177
Property Features for 2614 College St Unit 1-4
General Information
Standard status
Active
Size
2,892 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$48,000
Highway Access
Yes
Building Details
Year Built
1942
Buildings
1
Listing Agency:
CHRISTIE'S INTERNATIONAL REAL ESTATE FIRST COAST
Listed By:
PAIGE COVINGTON · License #3264968
(904) 563-5717
Source:
Myfirstcoasthomesearch
Added: Apr 24
Changed: Oct 11
Last Checked: Oct 16 at 9:32AM
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 CHRISTIE'S INTERNATIONAL REAL ESTATE FIRST COAST
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Investment Insights
Based on property information with market context.
This 2,892-square-foot quadplex contains four residential units, each configured with one bedroom and one bathroom. Built in 1942, the property is currently fully occupied. County permit records indicate that the roof was replaced in 2014, and the air-conditioning unit serving Unit #4 was replaced in 2019.
The property is located at 2614 College Street in Jacksonville’s Riverside area, with proximity to downtown Jacksonville, the St. Johns River, and major highways. Its four-unit configuration and existing occupancy provide a straightforward multifamily layout for continued residential rental use.
The property is located at 2614 College Street in Jacksonville’s Riverside area, with proximity to downtown Jacksonville, the St. Johns River, and major highways. Its four-unit configuration and existing occupancy provide a straightforward multifamily layout for continued residential rental use.
Key Highlights
- Four 1‑bedroom/1‑bath units
- All 4 units currently occupied
- 2,892 SF quadplex built in 1942
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,155
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$543,100
$543.1K
Cap Rate 7%
$387,929
$387.9K
Cap Rate 9%
$301,722
$301.7K
Market Conditions
NOI Build-Up for 2,892 SF
Gross rent
$42.7K $14.76/SF
− Vacancy
−$3.9K −$1.35/SF
EGI
$38.8K $13.41/SF
− OpEx
−$11.6K −$4.02/SF
NOI
$27.2K $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 Rate 5%
$543,100
Cap Rate 7%
$387,929
Cap Rate 9%
$301,722
Alternative Uses
Best Use
Multifamily LT 5
$387.9K
$339.4K – $452.6K
NOI $27,155 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$305.7K
$267.5K – $356.6K
NOI $21,396 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$792.2K
$693.2K – $924.3K
NOI $55,457 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,668
Businesses Nearby
Explore this area
Business Placement
Demographics for 32204, FL
8,673
Population
5,342
Households
1.6
Avg Household Size
39
Median Age
41%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,212
Density / Sq Mi
$54,462
Median Household Income
$47,872
Median Earnings
$1,132
Median Rent
$342,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied residential income property with one-bedroom, one-bath layouts and documented updates to the roof and air conditioning.
Where is this quadplex located?
The property is located at 2614 College St Unit 1-4 Jacksonville, FL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Four 1‑bedroom/1‑bath units; All 4 units currently occupied; 2,892 SF quadplex built in 1942
