5419 Woodcrest Rd - Apartments FOR SALE


Jacksonville, FL 32205- Hillcrest
$679,000 USD
904-233-8077
5419 Woodcrest Rd, Jacksonville, FL for Sale
$679,000 USD
Apartments - FOR SALE
1/25
null | 14.35% Cap Rate

5419 Woodcrest Rd
Jacksonville, FL 32205
Hillcrest


HIGHLIGHTS

  • This opportunity presents incredible cash flows, the owner will consider creative financing.
  • Nestled in the Hillcrest neighborhood of Jacksonville, a suburb renowned as "Shantytown" in honor of the Van Zant House.
  • This historic property was home to the Van Zant family, founders of the rock bands Lynyrd Skynyrd and .38 Special.
  • The community sits within 5 miles of two Amazon fulfillment centers and Ascension St. Vincent's, significant employers for the city.

OVERVIEW

This historic property was home to the Van Zant family, founders of the rock bands Lynyrd Skynyrd and .38 Special. The State of Florida recognizes it as a historical site with a historic marker. The main four-unit building is operated as a short-term rental, with guests from all over the world. The manufactured home in the back serves as a Padsplit with six private rooms and shared common areas. Tremendous cash flows make this a profitable investment from day one. The new owner can continue to operate as is (the seller will assist in the transition) or come live in one unit and manage the rest while living off the income. All units come fully furnished and everything is included, including a branded website, operating systems, and two sets of coin-operated washers/dryers for even more income. Property creates cash flows between $10-12K per month. Expenses are around $2000/mo before debt service, making this deal a 12+% cap rate, about two times better than the going market cap rates. There is a great deal of meat on the bone for investors. This is not a traditional multifamily, but short-term rental (STR) and Padsplit create revenues 2- 3x higher than those of a conventional multifamily. Please make sure your buyers understand this. See the financials and offering memorandum for more details.

FOR SALE DETAILS

PRICE

$679,000 USD

PRICE/SF

$131 USD /SF

# OF UNITS

10

PRICE/UNIT

$67,900

CAP RATE

14.35%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Van Zant House

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

RMD-A

APN/PARCEL ID

066841-0000

ASK ABOUT THIS PROPERTY

TODD SMITHBLUE HORIZON REAL ESTATE LLCMore Info
904-233-8077

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TODD SMITHBLUE HORIZON REAL ESTATE LLCMore Info
904-233-8077

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.