HOME RUN DEAL IN JACKSONVILLE!
38 buildings - 360 units - Concrete Block
Current CAP 10%

Creative financing available for qualified buyer
90% occupancy
$8.5MM or $23K per unit, 10% CAP, NOI $880k

SERIOUS INQUIRIES ONLY PLEASE
COMPLETE DD PACKAGE AND FINANCIALS AVAILABLE UPON REQUEST
NCND REQUIRED FIRST.


This Is a Truly Unique Opportunity. Please Read All Details On This One!!
DO NOT MISS OUT!!!

Creative Financing Available as well as in place financing
360 Units – consisting of very affordable studios, 1 br’s & 2 br townhomes
Easy to rent. – Jacksonville’s Studios and 1 br’s apartments are the most occupied unit type vs. 2br & larger units.
Low Maintenance – over the years many improvements have been
$8.5MM or $23K per unit, 10% CAP, NOI $880k
Priced Below Market w/ Recent Improvements
Solid Construction, Concrete Block w/ Recent Roofs (5 years)
Near Public Transportation and Plenty of Employment


Other Property Features Solid concrete block construction. Quality roofs. Electrical wiring updated
in 1999. Heating and A/C strictly maintained. Beautiful grounds and lakes.
City is upgrading all adjacent streets, sidewalks, sewer drainage and lights.
All streets city owned ad maintained.

Subject property is located on a series of lots fronting public
streets located in the City of Jacksonville on 5 separate
parcels of property. The parcels access Hare, India, Jasper
and Knox Avenues which are city maintained streets and
have perpendicular (90 degree angle) parking. The rest
of the property abuts single family houses, duplexes or
vacant residential lots. The total land area is 10.83 acres
(471,737.5 sf). There are entrances to the project from
abutting streets, but only a small portion of the parking
is on-site. Most of the parking spaces are located on the
boundaries of the property and are incorporated in the
public street. There are extensive sidewalks between
streets and buildings.
The parking lots are asphalt or concrete paved with the
perimeter of the paving against lawns. The largest on site
parking lot is the former tennis court.
There are some concrete curbs in various locations to help
direct drainage. There is a large recreation area with the
pool and deck and a pool pump house. There are also
several small lakes, BBQ areas, a laundry building and
exercise. The property generally slopes to the North and
drains to on-site lakes which drain North to an off-site
public drainage ways. There are a total of 80 parking
spaces on-site. There are no on-site spaces which are
striped for handicapped. There are 340 parking spaces off
site. These parking spaces serve 27 apartment buildings
many of which are connected by a common breezeway.
There are concrete sidewalks alongside the parking bays,
sidewalks to stoops and to off-site parking.
There are 27 apartment buildings and three (3) ancillary
buildings for laundry pool pump house and storage
shed building. Six (6) apartment buildings are two (2)
story concrete masonry and wood framed structures
with plywood sheathing over wood joists on floors and
wood roofs rafter with plywood sheathing for roofs.
All of these buildings have concrete slab on grade for

Bid4Assets Real Estate Buyer Responsibilities

Bid4Assets reminds all potential bidders on real estate that it is your responsibility to complete all due diligence needed to determine the condition, market value, or investment value of this asset prior to placing a bid. Necessary due diligence items may include, but are not limited to, a) a satisfactory inspection of the property, and b) the satisfactory completion of a title search.

By placing a bid, you acknowledge that any statements made by the seller pertaining to the condition or market value of the property are subjective, and do not release you from your responsibility to perform a due diligence review.