$849,000
Jacksonville, FL 32244
MLS# 2077115
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Property Description
Fully Entitled Affordable Housing Project with 1MM GPR and No Property Tax.
Details
Maps
Documents
Contract Information
Current Price: $849,000
Property Sub Type: Unimproved Land
Status: Active
List Price: $849,000
Listing Contract Date: 2025-03-21
Location Tax and Legal
Street Name: COLLINS
Street Suffix: Road
County: Duval
State: FL
Postal Code: 32244
MLS Area Major: 067-Collins Rd/Argyle/Oakleaf Plantation (Duval)
Subdivision Name: Ortega Bluff
General Property Information
Lot Size Acres: 1.99
CDD Fee YN: No
Association YN: No
Waterfront YN: No
Directions: From the Dollar General store at 8159 Ortega Bluff Parkway, head southeast on Ortega Bluff Parkway for approximately 0.3 miles. Your destination, 8519 Ortega Bluff Parkway, will be on the right.
Public Remarks: Fully Entitled Affordable Housing Project with 1MM GPR and No Property Tax.
List Price/Acre: 426633.17
Status Change Information
Major Change Timestamp: 2025-03-21T20:41:05Z
Major Change Type: New Listing
Property Features
Current Use: Multi-Family; Residential
Lot Features: Corner Lot
Sewer: Public Sewer
Utilities: Cable Available; Electricity Available; Natural Gas Available; Sewer Available; Water Available
Water Source: Public
Road Surface Type: Asphalt
Road Frontage Type: City Street
Listing Terms: Other
Possession: Other
Development Status: Raw Land
Showing Requirements: Other
Supplements
Ortega Bluff is a newly entitled 60-unit affordable housing development in Jacksonville, FL, an area with strong demand for veteran and workforce housing. This project benefits from The Live Local Act, which provides favorable financing, affordability incentives, and long-term investment stability. These units will rent at $1,381 per month through the Jacksonville Housing Authority. One of the standout features of Live Local Act Developments is the exemption from property taxes on the building, which significantly reduces expenses and increases net operating income. Jacksonville has a consistent need for affordable and veteran housing, ensuring low vacancy rates and steady occupancy. Additionally, this development qualifies for the Low-Income Housing Tax Credit (LIHTC), and all necessary zoning and unit count approvals are already in place, making it a rare find in the market. Phase 1 ESA completed and clear.
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Listing Office: HOMECOIN.COM
Last Updated: March - 21 - 2025
Information deemed reliable but not guaranteed.
Broker Attribution:
888-400-2513