Four-Unit Residential Income
For Sale
Contact for pricing
7631 Indian Lakes Drive, Jacksonville, FL 32210
Four fully occupied units with consistent large two-bedroom, two-bath layouts, positioned near major Jacksonville employers and retail.
Property Size3,704 SF
Price / SF$121.49
Days on Market68
Property Features for 7631 Indian Lakes Drive
General Information
Standard status
Active
Size
3,704 SF
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$33,965
Additional Details
Multifamily Units
4
Building Details
Year Built
1984
Buildings
1
Tenancy
Multi
Listing Agency:
Colliers - Jacksonville, Florida
(813) 470-4330
Listed By:
Bennett Harrell · License #FL #sl3400888
Source:
Crexi
Added: Jun 3
Changed: Aug 7
Last Checked: Aug 8 at 1:45PM
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 Colliers - Jacksonville, Florida
Investment Insights
Based on property information with market context.
Indian Lakes is a 4-unit residential income property offering a consistent unit layout: all units are large two-bedroom, two-bath configurations, each totaling 926 square feet. The property is presented as 100% occupied.
The asset is located in Jacksonville, Florida, in a submarket off 103rd Street on the west side of the city. It is convenient to retail and shopping destinations including Publix and Walmart. It also sits proximate to major demand drivers such as an Amazon Distribution Center, Cecil Air Field, Naval Air Station Jacksonville, and Downtown Jacksonville, which is described as having an approximately $8 billion mixed-use development pipeline.
For investors or operators seeking a small multifamily asset with a uniform tenant experience, Indian Lakes provides a straightforward collection of four similarly sized and configured apartments. Its fully occupied status and repeatable 2-bedroom, 2-bath unit mix can simplify leasing and tenant turnover planning relative to properties with multiple disparate layouts.
The asset is located in Jacksonville, Florida, in a submarket off 103rd Street on the west side of the city. It is convenient to retail and shopping destinations including Publix and Walmart. It also sits proximate to major demand drivers such as an Amazon Distribution Center, Cecil Air Field, Naval Air Station Jacksonville, and Downtown Jacksonville, which is described as having an approximately $8 billion mixed-use development pipeline.
For investors or operators seeking a small multifamily asset with a uniform tenant experience, Indian Lakes provides a straightforward collection of four similarly sized and configured apartments. Its fully occupied status and repeatable 2-bedroom, 2-bath unit mix can simplify leasing and tenant turnover planning relative to properties with multiple disparate layouts.
Key Highlights
- 4‑unit multifamily property built in 1984
- 100% occupied with consistent large 2‑bedroom, 2‑bath units
- All units total 926 SF each (2BR/2BA layout)
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
$34,780
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
7.73%
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%
$695,600
$695.6K
Cap Rate 7%
$496,857
$496.9K
Cap Rate 9%
$386,444
$386.4K
Market Conditions
NOI Build-Up for 3,704 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
$54.7K $14.76/SF
− Vacancy
−$5.0K −$1.35/SF
EGI
$49.7K $13.41/SF
− OpEx
−$14.9K −$4.02/SF
NOI
$34.8K $9.39/SF
Area
ZIP 32210
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%
$695,600
Cap Rate 7%
$496,857
Cap Rate 9%
$386,444
Alternative Uses
Best Use
Multifamily LT 5
$496.9K
$434.8K – $579.7K
NOI $34,780 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$391.5K
$342.5K – $456.7K
NOI $27,403 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$1.01M
$887.9K – $1.18M
NOI $71,028 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
Explore this area
Business Placement
Demographics for 32210, FL
66,415
Population
29,198
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
88%
High-School Grad
21.9 sq mi
ZIP Area
3,033
Density / Sq Mi
$58,215
Median Household Income
$36,997
Median Earnings
$1,205
Median Rent
$205,300
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 - Four fully occupied units with consistent large two-bedroom, two-bath layouts, positioned near major Jacksonville employers and retail.
Where is this quadplex located?
The property is located at 7631 Indian Lakes Drive Jacksonville, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 4‑unit multifamily property built in 1984; 100% occupied with consistent large 2‑bedroom, 2‑bath units; All units total 926 SF each (2BR/2BA layout)
