$355,000
Orange Park, FL 32073
MLS# 1084452
Status: Closed
8 beds | 48 baths
1 / 9
Property Description
Great opportunity to own rental property in a high demand area. Fully occupied. Current comps show rents are up to 950- 1050/m in this community HUD FAIR MARKET RENT IS $1,120.00 PER MONTH Plenty value add, . With property management in place this is a potential 34.03% IRR and 30.27% CASH offered at 8% Cap Rate 10 year hold SEE PROFORMA. This property has been well maintained. All annual lease. See attached Proforma. Hud Fair Market Rents for 2021 for zip code 32073 is $1120 for 2 bed room. Plenty of upside! Public records show property as having only one bath but there is a half bath in each unit connected to the master bedroom. Tenant Pays Water and Electric all units are metered individually. NEW FLOORING RECENTLY INSTALLED IN 95% OF THE UNITS See attached Docs
Details
Maps
Documents
Contract Information
Current Price: $355,000
Sold Price: $355,000
Status: Closed
Listing Contract Date: 2020-11-25
Property Sub Type: Quadruplex
Location Tax and Legal
Street Number: 461
Street Name: BENTWOOD
Street Suffix: Lane
County: Clay
State: FL
Postal Code: 32073
Subdivision Name: Cedar Bend
MLS Area Major: 131-Meadowbrook/Loch Rane
General Property Information
Number Of Units Total: 24
Bedrooms Total: 8
Bathrooms Total: 48
Bathrooms Full: 24
Bathrooms Half: 24
Living Area: 22116
Living Area Source: Public Records
Year Built: 1982
Garage Spaces: 48
Pool Private YN: No
Water Body Access YN: No
Waterfront YN: No
Stories Total: 2
Stories: 2
Directions: 295 - At exit 12, take ramp right for SR-21 toward Orange Park Mall Turn left onto SR-21 S / Blanding Blvd Turn right onto Wells Rd Turn left onto Cedar Bend
Public Remarks: Great opportunity to own rental property in a high demand area. Fully occupied. Current comps show rents are up to 950- 1050/m in this community HUD FAIR MARKET RENT IS $1,120.00 PER MONTH Plenty value add, . With property management in place this is a potential 34.03% IRR and 30.27% CASH offered at 8% Cap Rate 10 year hold SEE PROFORMA. This property has been well maintained. All annual lease. See attached Proforma. Hud Fair Market Rents for 2021 for zip code 32073 is $1120 for 2 bed room. Plenty of upside! Public records show property as having only one bath but there is a half bath in each unit connected to the master bedroom. Tenant Pays Water and Electric all units are metered individually. NEW FLOORING RECENTLY INSTALLED IN 95% OF THE UNITS See attached Docs
List Price/SqFt: 98.25
Sold Price/SqFt: 16.05
Status Change Information
Major Change Timestamp: 2021-03-09T17:21:55Z
Major Change Type: Status Change
Purchase Contract Date: 2020-12-30
Close Date: 2021-01-29
Close Price: 355000
Income and Expenses
Gross Income: 259200
Gross Scheduled Income: 28800
Operating Expense: 9600
Historical Information
Public Historical Remarks 1: Occupancy Rate: 92, Annual Property Tax: 20526, Annual Fees and Income-Annual Mgmt Fee: 18483, Annual Fees and Income-Annual Insurance Exp: 5163, Lot Location-Suburban: Y, Possible Financing-1031 Exchange: Y, Approx Lease SqFt: 22116.00, Present Common Exp: Water, Number of Buildings: 4+ Buildings, Present Rental Terms: Month to Month,Year,6 + Month, Two Bedroom Rentals: $801 to $1000/Month,$1001 to $1500/Month
Public Historical Remarks 2: Annual Rent: 257000.00, Number of Units-21 - 25 Units: Y, # 2 Bedroom Units: 24, Annual Utilities: 9600, Present Tenant Exp: All Electric,Water
Property Features
Appliances: Dishwasher; Disposal; Electric Oven; Electric Range; Electric Water Heater; Refrigerator
Construction Materials: Frame; Shell Dash
Cooling: Central Air
Flooring: Tile; Vinyl
Heating: Central
Listing Terms: Cash; Conventional; FHA; VA Loan
Owner Pays: Grounds Care; Insurance; Management; Other Tax; Pest Control; Trash Collection
Pool Features: None
Possession: Negotiable; Other
Road Surface Type: Asphalt
Roof: Shingle
Sewer: Public Sewer
Water Source: Public
Supplements
This is being offer as a portfolio of 6 quadraplexes in the same neighbor hood. 469,464,461 Bentwood and 471,468,454 Crabapple court will be listed separately also . Owner Prefers to sell as a package deal but will sperate for strong offer
Offering Memorandum 
Listing Office: FLORIDA HOMES REALTY & MTG LLC
Last Updated: February - 04 - 2025
Information deemed reliable but not guaranteed.