Portside Oaks Apartments is a 17-bedroom, 5,183 sq. ft. turnkey quadruplex that has just undergone a $200,000+ renovation. Improvements include a new roof, plumbing, windows, HVAC units, Hardie board siding, doors, drywall, kitchens, bathrooms, insulation, paint inside and out, water heaters, carpet, ceiling fans, light fixtures, privacy fence, soffit, appliances, and much more. 3 of the 4 units are now practically brand and should have no deferred maintenance for years to come. Each unit has a laundry room, is separately metered, and has sliding glass doors that open to a large fenced in back yard. Unit one is a 5/2, unit two is a 4/1.5, unit three is a 3/1.5, and unit four is a 5/1.5. Unit 3 is currently rented for $850 a month to a long-term tenant. Units 1, 2, & 4 are currently vacant but will have no problem finding tenants as people stop by daily to inquire about renting. Units 1 & 4 have a market rent of $1,175 and unit 2 has a market rent of $1,050. With an annual rent of $51,000, this investment will yield over an 7.25% cap rate with a management expense included and over 8% if self-managed. You will not find another investment property with this combination of high yield and great condition! Centrally located with easy access to all Jacksonville amenities. This one will not last!
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