Jefferson Square
Closed1288-1290 Jefferson Ave, Orange Park, FL 32065-8694
Property type
Multifamily
Unit / Space count
24
Price
$3,150,000
Building size
22,128 sf
Rentable area
22,128 SF
Year built
1985
Year renovated
Occupancy
Zoning code
Lot size
2.09 Acres
Sold/status
Sold · Date unknown
Sale price
$3150000
Bedroom count
Property description
The Jefferson Square Apartments is a 24-unit multifamily property in Orange Park, FL (Jacksonville MSA) consisting of six single-story quads. The property is conveniently located just a short 12-minute drive from the Oakleaf Town Center (Publix, Target, Home Depot, Kohl’s, etc.) and approximately 30 minutes from downtown Jacksonville. The highly desirable unit mix is comprised of 100% identical two-bedroom two-bathroom floor plans with in-unit washer/dryer connections and private outdoor space. All utilities for the property are billed directly to the tenants and no third-party waste removal is required, creating significant operational efficiencies for the investor. Select units recently went through significant interior renovations. The Clay County school system is highly ranked and the average household income within a one-mile radius of the property is $73,483. Jefferson Square Apartments is a proven value-add opportunity with $293+ in average monthly rental upside by simply continuing the renovation plan initiated by the current owner. The nearby points of interest and retailers combined with major city developments ensures continued rental success in the near and future market.
Property highlights
- 24-Unit, Six-Property Portfolio in Orange Park, FL
- New to Market Buyer
- Achieved 97% of List Price
- Closed at Contract Price
- Navigated Challenging Debt and Insurance Markets