Four-Unit Residential Income
7631 Indian Lakes Drive, Jacksonville, FL 32210
For Sale
Contact for pricing
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$117.44
Days on Market161
Property Features for 7631 Indian Lakes Drive
General Information
Standard status
Size
Property subtype
Occupancy
Net Operating Income
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Colliers - Jacksonville, Florida
Listed By:
Bennett Harrell · License FL SL3400888
(904) 358-0272
Source:
Crexi
Added: Jun 3
Changed: Nov 7
Last Checked: Nov 8 at 7:00AM
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
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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 / Yr
$34,780
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
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
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 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 8.00%
Second Best
Apartment 5plus
$391.5K
$342.5K – $456.7K
NOI $27,403 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$1.01M
$887.9K – $1.18M
NOI $71,028 @ 7.0% cap · market cap 16.33%
Zoning and permitted uses should be independently verified with authorities.
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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
$205,300
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Jacksonville, FL
Properties on Market for Quadplexes in Jacksonville
Vacancy Rate% for Multifamily in South region
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 $435,000.
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)
