Two-Building Apartment Complex with
35 Dufferin St St Augustine, FL 32084
New
For Sale
Contact for pricing
Class C multifamily property with 26 units across two concrete block buildings and private surface tenant parking.
Property Size16,103 SF
Price / SF$248.40
Days on Market7
Property Features for 35 Dufferin St
General Information
Standard status
Active
Size
16,103 SF
Property subtype
Multifamily
Building Details
Year Built
1946
Listing Agency:
Marcus & Millichap - Jacksonville
(904) 672-1439
Listed By:
Allan Holbrook · License #FL BK579318
Source:
Crexi
Added: Jul 21
Changed: Jul 24
Last Checked: Jul 26 at 6:45AM
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 Marcus & Millichap - Jacksonville
Investment Insights
Based on property information with market context.
The Flamingo Apartments is a 3-story, Class C apartment complex with 24 units and a separate rear building that adds two additional units, for a total of 26 apartments. The property includes two buildings built in 1946 with solid concrete block construction and concrete stucco exterior walls. Roofs are framed with wood truss and covered with composite shingles, and unit floorplans vary in design. The complex provides a laundry room with two coin-operated washers and dryers that run on propane gas. The buildings include individually metered units, and the landlord pays for water, sewer, and trash while tenants pay electric, cable, and internet.
The property is located on a secluded street in Historic Saint Augustine, Florida, on 1.42 acres. Parking is provided as 30 free surface private spaces for tenants, noted as a premium in the area where parking is scarce. Zoning is RS-1, Residential, Single Family-one.
The separate smaller rear building totals 1,629 gross square feet and could be converted into a clubhouse with a swimming pool and patio, plus additional outdoor and fitness amenities including a conversational fire pit and BBQ area, exercise room, and pickleball courts.
The property is located on a secluded street in Historic Saint Augustine, Florida, on 1.42 acres. Parking is provided as 30 free surface private spaces for tenants, noted as a premium in the area where parking is scarce. Zoning is RS-1, Residential, Single Family-one.
The separate smaller rear building totals 1,629 gross square feet and could be converted into a clubhouse with a swimming pool and patio, plus additional outdoor and fitness amenities including a conversational fire pit and BBQ area, exercise room, and pickleball courts.
Key Highlights
- 24‑unit, 3‑story apartment complex built in 1946 on 1.42 acres in historic St. Augustine, FL
- Total of 26 units across two buildings, with 13,800 rentable SF in the main building (14,474 gross SF)
- Solid concrete block construction built by the Navy; concrete stucco exterior walls and composite shingle roof cover
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $253.1k | $15.72 |
| − Vacancy | −$24.3k | −$1.51 |
| EGI | $228.8k | $14.21 |
| − OpEx | −$103.0k | −$6.39 |
| NOI | $125.9k | $7.82 |
16,103 SF · lease $15.72/SF/yr · vacancy 9.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.80M
$1.57M – $2.10M
NOI $125,861 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.30M
$3.76M – $5.01M
NOI $300,675 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Class C multifamily property with 26 units across two concrete block buildings and private surface tenant parking.
Where is this apartment building located?
The property is located at 35 Dufferin St St Augustine, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 24‑unit, 3‑story apartment complex built in 1946 on 1.42 acres in historic St. Augustine, FL; Total of 26 units across two buildings, with 13,800 rentable SF in the main building (14,474 gross SF); Solid concrete block construction built by the Navy; concrete stucco exterior walls and composite shingle roof cover
