Lancaster Portfolio
Closed546 Lancaster St, Jacksonville, FL 32204-4113
Property type
Multifamily
Unit / Space count
11
Price
$1,995,000
Building size
9,634 sf
Rentable area
9,634 SF
Year built
1914
Year renovated
Occupancy
94%
APN
090185-0000
Zoning code
Lot size
0.17 Acres
Unit mix
8x
1br
2x
2br
1x
-br
Bedroom count
Price per Unit
$181,364
Price per SF
$207.08
Property description
The Lancaster Portfolio is an 11-unit multifamily property in Jacksonville, Florida that is extremely well located in Riverside’s Historic Five Points. The portfolio is comprised of: a two-story 8-unit building constructed in 1914 and a two-story duplex with a studio apartment above a garage that was constructed in 1906. The properties recently went through heavy interior and exterior renovations with approximately $500K+ being spent. Unit interiors feature stainless steel appliances, subway tile backsplash, granite or quartz counters, white shaker cabinets, refinished hardwood or tile flooring, fresh paint, modern lighting and hardware, and full-size washers and dryers. The exteriors have new landscaping/hardscaping, fresh paint, new pavers installed, sprinkler systems, and up lighting. The Lancaster Portfolio offers an investor the opportunity to acquire a rare trophy asset in an A+ location of one of Jacksonville’s most desirable submarkets. The nearby points of interest and walkability combined with major city developments ensures continued strength in rental demand.
Property highlights
- 11-Unit Multifamily Portfolio Located in Riverside’s Historic Five Points
- Procured Local Investor Adding to Their Existing Portfolio
- The Properties Recently went through Extensive Interior and Exterior Renovations, Approximately $500,000+
- Extremely High Barrier of Entry to New Supply in the Submarket
- Conveniently Located 2-Minutes from Historic Five Points Entertainment District (0.3 Mi), and 9-Minutes to Downtown Jacksonville (2.2 Mi)