5-Unit Apartment
For Sale
$364,900
480 S Jefferson St, Monticello, FL 32344
Three occupied units provide current rental use, while two vacant apartments require updating and repairs before re-leasing.
Property Size2,750 SF
Price / SF$132.69
Days on Market72
Property Features for 480 S Jefferson St
General Information
Standard status
Active
Size
2,750 SF
Property subtype
Multi-Family
Occupancy
60%
Additional Details
Highway Access
Yes
Multifamily Units
5
Building Details
Year Built
1920
Listing Agency:
Keller Williams Town & Country
Listed By:
Chip Williams · License #3144939
(850) 800-9108
Source:
Hopegainesrealestate
Added: Aug 5
Changed: Oct 2
Last Checked: Oct 7 at 4:31PM
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 Keller Williams Town & Country
Investment Insights
Based on property information with market context.
This 5-unit apartment property contains 2,750 square feet, with a total of 6 bedrooms and 5 bathrooms. Three units are occupied, while two units are vacant and require updating and repairs. Each vacant apartment has 1 bedroom and 1 bathroom, providing a defined renovation scope within the existing layout. The property was built in 1920.
Located at 480 S Jefferson St in Monticello, the building is near local businesses, shopping, and dining. Interstate access is also nearby, adding a transportation convenience for residents. The combination of occupied units and two apartments requiring work creates a mixed operating profile within an established in-town setting.
Located at 480 S Jefferson St in Monticello, the building is near local businesses, shopping, and dining. Interstate access is also nearby, adding a transportation convenience for residents. The combination of occupied units and two apartments requiring work creates a mixed operating profile within an established in-town setting.
Key Highlights
- 5‑unit apartment property with 6 bedrooms and 5 bathrooms
- 2,750‑square‑foot property built in 1920
- Three units are occupied; two units are vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,047
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,940
$500.9K
Cap Rate 7%
$357,814
$357.8K
Cap Rate 9%
$278,300
$278.3K
Market Conditions
NOI Build-Up for 2,750 SF
Gross rent
$49.5K $18.00/SF
− Vacancy
−$4.0K −$1.44/SF
EGI
$45.5K $16.56/SF
− OpEx
−$20.5K −$7.45/SF
NOI
$25.0K $9.11/SF
Area
Jefferson County, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,940
Cap Rate 7%
$357,814
Cap Rate 9%
$278,300
Alternative Uses
Best Use
Apartment 5plus
$357.8K
$313.1K – $417.5K
NOI $25,047 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$674.2K
$589.9K – $786.6K
NOI $47,193 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
60%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
424
Businesses Nearby
Explore this area
Business Placement
Demographics for 32344, FL
12,705
Population
5,988
Households
2.1
Avg Household Size
49
Median Age
21%
College-Educated
87%
High-School Grad
444.6 sq mi
ZIP Area
29
Density / Sq Mi
$52,222
Median Household Income
$37,131
Median Earnings
$776
Median Rent
$208,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Apartment building - Three occupied units provide current rental use, while two vacant apartments require updating and repairs before re-leasing.
Where is this apartment building located?
The property is located at 480 S Jefferson St Monticello, FL.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: 5‑unit apartment property with 6 bedrooms and 5 bathrooms; 2,750‑square‑foot property built in 1920; Three units are occupied; two units are vacant
