Fully Occupied Quadplex Income
519 W 23rd St Jacksonville, FL 32206
519 W 23rd St, Jacksonville, FL, 32206
$349,000
For Sale
$349,000
Two-story brick quadplex with four 1BR/1BA units, 100% occupied, and recent roof and A/C upgrades.
Property Size3,060 SF
Price / SF$114.05
Days on Market70
Property Features for 519 W 23rd St
General Information
- Standard status
- Active
- Size
- 3,060 SF
- Property subtype
- Multi-Unit (2-4)
Building Details
- Year Built
- 1940
Listing agency
PELLEGO PARTNERS LLC
(904) 999-9930
Listed by
Sam Boston
Source
Doyle-realty
Added: May 14 Updated: Jul 20 at 3:59AM Checked: Jul 21 at 3:19AM
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 PELLEGO PARTNERS LLC
Investment Insights
Based on property information with market context.
This investor-ready quadplex features a solid two-story brick building with four 1BR/1BA units. The property is reported as 100% occupied, with stabilized, long-term tenants already in place. Major improvements noted include a newer roof, updated A/C units, and several newer windows, which may help reduce near-term maintenance. The units include hardwood floors throughout, and major appliances are described as included.
The property is located in Jacksonville and positioned in a high-demand rental corridor near Downtown Jacksonville, UF Health, major employers, highways, and redevelopment activity, which supports the stated rental-demand environment.
From a practical standpoint, the asset offers a straightforward four-unit layout in a single building, with each unit configured as a 1-bedroom, 1-bath residence.
The property is located in Jacksonville and positioned in a high-demand rental corridor near Downtown Jacksonville, UF Health, major employers, highways, and redevelopment activity, which supports the stated rental-demand environment.
From a practical standpoint, the asset offers a straightforward four-unit layout in a single building, with each unit configured as a 1-bedroom, 1-bath residence.
Key Highlights
- 100% occupied 4‑unit quadplex with four 1BR/1BA units in a two‑story brick building
- Year built 1940
- Recent improvements include a newer roof, updated A/C units, and several newer windows
Local Financial Insights For Multifamily LT 5
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 | $45.2k | $14.76 |
| − Vacancy | −$4.1k | −$1.35 |
| EGI | $41.0k | $13.41 |
| − OpEx | −$12.3k | −$4.02 |
| NOI | $28.7k | $9.39 |
3,060 SF · lease $14.76/SF/yr · vacancy 9.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$410.5K
$359.2K – $478.9K
NOI $28,733 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$323.4K
$283.0K – $377.3K
NOI $22,639 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$838.3K
$733.5K – $978.0K
NOI $58,679 @ 7.0% cap · market cap 16.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Two-story brick quadplex with four 1BR/1BA units, 100% occupied, and recent roof and A/C upgrades.
Where is this quadplex located?
The property is located at 519 W 23rd St Jacksonville, FL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 100% occupied 4‑unit quadplex with four 1BR/1BA units in a two‑story brick building; Year built 1940; Recent improvements include a newer roof, updated A/C units, and several newer windows
