Brick Quadplex With Off-Street
New
For Sale
$425,000
2622 BOULEVARD, Jacksonville, FL 32206
MULTI_FAMILY - Jacksonville, FL
Property Size3,594 SF
Lot Size0.11 Acres
Price / SF$118.25
Days on Market7
Property Features for 2622 BOULEVARD
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 7, Bedroom 1, Bedroom 3, Bedroom 8, Bedroom 5, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 2
Parking
6
Parking features
Assigned, Off Street, Parking Lot
Appliances
Electric Oven, Refrigerator
Subdivision
North Springfield Heights
Directions
North on I-95 from I-10. Exit and head east on 8th St. Left on Boulevard.
Standard status
Active
APN
0451910000
Size
3,594 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4165
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
lobby
Building Details
Year built
1975
Floors in Building
1
Number of units
4
Flooring type
Wood
Building materials
Brick
Listing Agency:
COLDWELL BANKER VANGUARD REALTY · Coldwell Banker Real Estate
(904) 269-7117
Listed By:
TOBIN BOSSOLA · License #3164103
(904) 910-8084
Added: Aug 5
Last Checked: Aug 11 at 10:06PM
MLS# 2158588
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 3,594-square-foot quadplex in Jacksonville contains four residential units, each reached through a shared interior lobby. Built in 1975, the property has brick construction, wood flooring, electric heat, and wall or window cooling units. Appliances include electric ovens and refrigerators.
The property sits on 0.11 acres and includes assigned, off-street parking in a parking lot. Electrical improvements and a replacement roof were completed in 2020. Public water and public sewer serve the property, and each tenant pays their own utilities. All four units are occupied, with many residents reported to have longer-term tenancies.
The property sits on 0.11 acres and includes assigned, off-street parking in a parking lot. Electrical improvements and a replacement roof were completed in 2020. Public water and public sewer serve the property, and each tenant pays their own utilities. All four units are occupied, with many residents reported to have longer-term tenancies.
Key Highlights
- Four‑unit quadplex with 3,594 square feet of building area
- All units occupied, with many long‑term tenants
- Electrical upgrades and new roof completed in 2020
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
$33,747
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
7.94%
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%
$674,940
$674.9K
Cap Rate 7%
$482,100
$482.1K
Cap Rate 9%
$374,967
$375.0K
Market Conditions
NOI Build-Up for 3,594 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
$53.0K $14.76/SF
− Vacancy
−$4.8K −$1.35/SF
EGI
$48.2K $13.41/SF
− OpEx
−$14.5K −$4.02/SF
NOI
$33.7K $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%
$674,940
Cap Rate 7%
$482,100
Cap Rate 9%
$374,967
Alternative Uses
Best Use
Multifamily LT 5
$482.1K
$421.8K – $562.5K
NOI $33,747 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$379.9K
$332.4K – $443.2K
NOI $26,590 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$984.6K
$861.5K – $1.15M
NOI $68,919 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
648
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
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 - Four occupied units share an interior lobby, while residents handle their own utility costs.
Where is this quadplex located?
The property is located at 2622 BOULEVARD Jacksonville, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,594 square feet of building area; All units occupied, with many long‑term tenants; Electrical upgrades and new roof completed in 2020
