1724 Copeland Street, Jacksonville, FL 32204

Property Description

Property Highlights: 5-unit property well located in the highly desirable Historic Riverside neighborhood of Jacksonville, FL. Property consists of 4 one-bedroom units and a detached two-story two bedroom unit. All units have central HVAC and select units have in-unit washer/dryer (shared laundry on-site for remaining units). Extremely high barrier of entry to new supply in the submarket. Units that were previously operating as furnished rentals and are currently being kept vacant (3), along with in-place leases nearing expiration (2), allowing new ownership immediate optionality in operations and tenant placement. Potential opportunity to enhance revenue through furnished and shortterm rentals, which are popular in Riverside due to local employment drivers (St Vincent's, Downtown, Brooklyn) and local points of interest. Average Pro Forma Market Rent: $1,550 Surrounding Area Highlights: Excellent demographics - average household income of $100,298 and average home $513,581 Jacksonville FL ranked #1 for 2021-2022 and 2022-2023 domestic net migration % (U.S. Census Bureau). Conveniently located 1-minute from Ascension St. Vincent's Riverside (0.4 Mi), 2-minutes from Historic Five Points Entertainment District (.3 Mi), 5-minutes from the Shoppes of Avondale (1.7 Mi), and 5-minutes from Downtown Jacksonville and Gateway JAX mixed-use development (2.1 Mi). Major Nearby Retailers Include Publix Supermarket (.2 Mi), Starbucks (.3 Mi), Walgreens (0.8 Mi), and the upcoming Whole Foods in Brooklyn (1.5 Mi)