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Cypress Landing

4813 Moncrief Road, Jacksonville, FL 32209

Price:

$4,100,000

No. Units:

136

Building Size:

112,880 SF

Price per Unit:

$30,147.06

Property Type:

Multifamily

Property Sub-type:

Garden – Low-Rise

Property Use Type:

Investment

Cap Rate:

9.38%

No. Stories:

2

Year Built:

1967

APN / Parcel ID:

030056-0000

Highlights of Jacksonville Multifamily Investment Property

• 100% Vacant Value Add Opportunity
• Concrete Block Construction
• Significant Upside Through Continued Renovations & Lease Up
• Centrally Located Within Minutes to Interstate 95 and 4 Miles From Downtown Jacksonville
• Annual Submarket Rent Growth of 3.3% for FYE 2015Q3
• Frontage to Moncrief Road With Over 15,000 Vehicles Per Day

Description of Florida Commercial Property

The Cypress Landing Apartments is a 136-unit garden-style community located in the heart of Jacksonville, Florida, within Duval County. Delivered in 1967, this asset consists of eight two-story concrete block buildings, situated on an approximately 4.49 acre parcel. The property is conveniently located less than one mile west of Interstate 95 – the primary transportation artery for Florida’ s east coast and the eastern United States. I-95 provides rapid access to Jacksonville’ s scenic downtown which is only 4.3 miles south of the property. Situated on the banks of the St. John’ s River, downtown Jacksonville offers numerous employment, health care, shopping and entertainment options. Also 4.3 miles to the south of Cypress Landing is Interstate 10 which provides residents direct access to the Interstate 295 beltway and all local and regional employment centers. Jacksonville International Airport is easily accessed as well; the airport is located 12.2 miles north on I-95.

Within five minutes of Cypress Landing’ s location on Moncrief Road, residents are afforded multiple retail, educational and health care destinations. The Publix Supermarket-anchored Gateway Town Center is only 1.7 miles away and includes a Walgreens pharmacy, YouFit health club and numerous local and national restaurant brands. Saint Clair Evans Academy, Northwestern Middle School and A. Philip Randolph Academies are all located within one mile of the property. University of Florida Health Science Center Jacksonville is only 2.5 miles to the south.

Financial Summary

Net Operating Income

4813 Moncrief Road, Jacksonville, Florida 32209 (Duval County)

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