Renovated Triplex with Separate
New
For Sale
$624,990
2781/2783 COLLEGE Street, Jacksonville, FL 32205
Residential Income, Jacksonville, FL
Property Size2,463 SF
Lot Size0.11 Acres
Price / SF$253.75
Days on Market4
Property Features for 2781/2783 COLLEGE Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 4
Parking features
Driveway, Off Street, On Street
Fireplace
1
Appliances
Dishwasher, Disposal, Electric Range, Microwave, Refrigerator
Subdivision
New Riverside
Lot features
Few Trees
Middle school
Select One
Directions
Take interstate 10 west to lake city. Take a slight right turn onto Irene St. Turn left onto Stockton St S. Turn left onto Stockton St. Turn right onto College St. Destination is on the right.
Standard status
Active
APN
0644010000
Size
2,463 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9677
Utilities
Heating system
Central
Cooling system
Separate Meters, Central Air, Multi Units
Water source
Public
Building Details
Year built
1915
Floors in Building
2
Number of units
3
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS ST JOHNS · Keller Williams Realty
(904) 867-7694
Listed By:
JORDAN MAY · License #3378585
(904) 651-6548
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 2 at 12:06AM
MLS# 2162625
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 2,463-square-foot triplex includes a front duplex and a rear ADU. The duplex contains a one-bedroom, one-bath ground-level residence and a two-bedroom, one-bath upper residence; both are leased. The rear ADU is vacant following renovation and has separate access, rear road access, and parking. Interior improvements include luxury vinyl plank flooring, stainless steel appliances, quartz countertops, and new water heaters. The property also has new HVAC systems, a newer architectural shingle roof, and a transferable termite bond.
Located at 2781/2783 College Street in Jacksonville’s Riverside area, the property is within a short bike ride of the King Street, Park Street, and Post Street corridors. Parking includes a driveway, off-street spaces, and on-street availability. Public water serves the property, which was built in 1915 on 0.11 acres.
Located at 2781/2783 College Street in Jacksonville’s Riverside area, the property is within a short bike ride of the King Street, Park Street, and Post Street corridors. Parking includes a driveway, off-street spaces, and on-street availability. Public water serves the property, which was built in 1915 on 0.11 acres.
Key Highlights
- 2,463 SF triplex on a 0.11‑acre parcel
- Front duplex includes 1‑bedroom and 2‑bedroom residences; both are leased
- Rear ADU is newly renovated, vacant, and separately accessed
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
$23,127
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
3.70%
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%
$462,540
$462.5K
Cap Rate 7%
$330,386
$330.4K
Cap Rate 9%
$256,967
$257.0K
Market Conditions
NOI Build-Up for 2,463 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
$36.4K $14.76/SF
− Vacancy
−$3.3K −$1.35/SF
EGI
$33.0K $13.41/SF
− OpEx
−$9.9K −$4.02/SF
NOI
$23.1K $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%
$462,540
Cap Rate 7%
$330,386
Cap Rate 9%
$256,967
Alternative Uses
Best Use
Multifamily LT 5
$330.4K
$289.1K – $385.5K
NOI $23,127 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$260.3K
$227.8K – $303.7K
NOI $18,222 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$674.7K
$590.4K – $787.2K
NOI $47,230 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,992
Businesses Nearby
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
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?
Triplex - Three residences combine updated interiors, separate access, and flexible occupancy options in Jacksonville’s Riverside area.
Where is this triplex located?
The property is located at 2781/2783 COLLEGE Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $624,990.
What are key features of this property?
This property features: 2,463 SF triplex on a 0.11‑acre parcel; Front duplex includes 1‑bedroom and 2‑bedroom residences; both are leased; Rear ADU is newly renovated, vacant, and separately accessed
