Quadplex with Central Heat and
For Sale
$525,000
353 W 11TH St, Jacksonville, FL 32206
Well-maintained quadplex with four 1-bedroom, 1-bath apartments and central heat and air.
Property Size3,468 SF
Days on Market16
Property Features for 353 W 11TH St
General Information
Standard status
Active
Size
3,468 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,487
Building Details
Building Size
3,468 SF
Year Built
1939
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
United Real Estate Gallery
(323) 772-9558
Listed By:
ARIANA ALVAREZ
Source:
Elliman
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 11 at 11:19AM
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 United Real Estate Gallery
Investment Insights
Based on property information with market context.
This well-maintained quadplex includes four 1-bedroom, 1-bath apartments. Each unit is equipped with central heat and air, washer and dryer hookups, and durable wood and tile flooring throughout. The property was built in 1939 and has had recent updates including a newer roof and updated water supply lines.
Located at 353 W 11TH St in Jacksonville, the property is in a walkable area, with a walkScore of 82 and transitScore of 49. The bikeScore is 47, indicating a somewhat bikeable setting. The property is also described as being just minutes from Downtown Jacksonville and nearby restaurants, parks, breweries, and local neighborhood revitalization.
Designed for rental housing, the unit mix of four 1-bedroom apartments supports multiple tenant households under one ownership structure.
Located at 353 W 11TH St in Jacksonville, the property is in a walkable area, with a walkScore of 82 and transitScore of 49. The bikeScore is 47, indicating a somewhat bikeable setting. The property is also described as being just minutes from Downtown Jacksonville and nearby restaurants, parks, breweries, and local neighborhood revitalization.
Designed for rental housing, the unit mix of four 1-bedroom apartments supports multiple tenant households under one ownership structure.
Key Highlights
- Four 1‑bedroom, 1‑bath apartments in a quadplex
- Central heat and air in each unit plus washer and dryer hookups
- Wood and tile flooring throughout
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
$32,564
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
6.20%
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%
$651,280
$651.3K
Cap Rate 7%
$465,200
$465.2K
Cap Rate 9%
$361,822
$361.8K
Market Conditions
NOI Build-Up for 3,468 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
$51.2K $14.76/SF
− Vacancy
−$4.7K −$1.35/SF
EGI
$46.5K $13.41/SF
− OpEx
−$14.0K −$4.02/SF
NOI
$32.6K $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%
$651,280
Cap Rate 7%
$465,200
Cap Rate 9%
$361,822
Alternative Uses
Best Use
Multifamily LT 5
$465.2K
$407.1K – $542.7K
NOI $32,564 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$366.5K
$320.7K – $427.6K
NOI $25,657 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$950.0K
$831.3K – $1.11M
NOI $66,502 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,154
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained quadplex with four 1-bedroom, 1-bath apartments and central heat and air.
Where is this quadplex located?
The property is located at 353 W 11TH St Jacksonville, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath apartments in a quadplex; Central heat and air in each unit plus washer and dryer hookups; Wood and tile flooring throughout
