Current Use by Public Records
- Residential income homes
Property Details for 422 Seagate Ave
- Year built
- 1949
- Property type
- Residential income homes
- Property subtype
- Apartment buildings
Description
This exceptional Class A triplex in desirable Neptune Beach, Florida, presents a compelling investment opportunity. Boasting three units within a single, two-story building, this property offers a strong cash flow with a 4.66% cap rate and a current Net Operating Income (NOI) of $79,200. The property sits on a 50 sq ft lot and is zoned for multi-family use. Completely renovated in 2023 to meet today's building codes and standards, this meticulously updated property features a new metal roof and hardwood floors, maintaining its charming beach style. All three units are currently 100% occupied, providing immediate and consistent rental income. The property's location at 422 Seagate Ave, Neptune Beach, FL 32266, offers convenient access to local amenities and attractions. Built in 1949, this property benefits from a recent, comprehensive renovation, minimizing future maintenance needs. The asking price is $1,700,000, translating to a price per unit of $566,666.67. The property's APN is 173509-0000. Long-term leases contribute to the property's stability and predictable income stream. This is a turnkey investment ready for immediate returns.
Value Estimations
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Neptune Beach
- County
- Duval
- State
- Florida
- Longitude
- -81.3969
- Latitude
- 30.3078
