$2850000 40 Unit Apt Complex - Orange Park, FL 32065
By Phil Jones, Broker, CDPE
(Your Choice Real Estate, Inc.)
$2,850,000 - 40 Unit Apt Complex Property Description: Cash on Cash Return 9% (assuming 20% down)This complex is a 40 unit rental apartment community consisting of 38 2/2's and 2 2/1 handicap apartments all of 784 sq. ft. each, in five identical two story buildings on 2.83 acres of land. It is located in rapidly growing Clay county, a suburb of Jacskonville, Florida. The complex has municipal water and sewer and a timed irrigation system with water provided by an artesian well. All apartments are submetered for water as originally built. Recent improvements include new signage, restriped parking lot, removal of over grown trees and updating of apartments when vacant. All units have central heating and air conditioning, individual hot water heaters, washer and dryer hook ups, dishwashers...