1130 Market St St Jacksonville, FL 32206

Property Details for 1130 Market St St

Year built

1986

Property type

Apartment buildings

Property subtype

Small apartment buildings

Description

This fully renovated, Class A triplex in Jacksonville, Florida's Historic Springfield neighborhood presents a compelling investment opportunity. Built in 1986, this single-story property boasts three spacious units, each featuring two bedrooms and one bathroom, complete with convenient in-unit washer and dryer hookups. Two units are currently leased at $1350 per month, generating immediate cash flow. One unit is currently vacant, offering the potential for immediate rental income increase. The property is listed at $529,000, with a projected cap rate of 7.00%. The lot size is not specified, however, the property includes off-street parking. This turnkey investment is ideal for adding to an existing portfolio or for first-time multifamily investors seeking a strong return. The property's location in the desirable Historic Springfield area offers excellent potential for future appreciation. The existing leases and the vacant unit provide a flexible entry point for managing and growing rental income. This well-maintained property requires minimal immediate capital expenditure, allowing for a quick return on investment. The strong rental market in Jacksonville, Florida, further enhances the property's long-term value and potential for increased profitability. This is a rare opportunity to acquire a well-positioned, income-producing asset in a thriving urban neighborhood.