24 W 38th St. Jacksonville FL 32206
24 W 38th St. Jacksonville FL 32206
52 Units Townhouse Complex in Jacksonville! ONLY $41,000/door!
104 Bedrooms | 52 Bathrooms | 43316 sq. ft. | CBS construction with newer roofs
This property has 6 buildings spread over almost 2.5 acres including tennis courts and covered parking that can be converted to storage or assigned to tenants | All units are 2-Story, 2/1’s and are 820 SF each | Currents rents are around $600 per month with the possibility to increase | Perfect for Section 8 renters
Profit Scenarios:
Scenario 1 = Increase Rents to $650
Using the 1% Rule:
$650 x 52 Units = $33,800 gross income at 100% Occupancy per month
This gives a value of $3.38 million
Scenario 2 = Increase Rents to $700
Again, using the 1% Rule:
$700 x 52 Units = $36,400 gross income at 100% Occupancy
This gives a value of $3.64 million gross income at 100% Occupancy.
Currently not being properly managed.
Sale Comps $3,300,000 – $3,500,000
Rental Comps $33,800 – $36,400
Asking $2,150,000 Cash or Hard Money Only
Please note all offers are cash or hard money only (no mortgages cash offers only)
Please note all offers are with zero contingencies (no inspection period)
Please inspect the property prior to submitting your cash offer. Low ball offers will be automatically rejected. Most of our properties sell at or above asking price.
TO MAKE AN OFFER ON THIS PROPERTY RIGHT NOW CALL 561-948-2127 (Mon to Fri 9 a.m. to 5 p.m.)
Or EMAIL your offer anytime 24/7 to: offers@lexlevinrad.com
If you need showing instructions for a property please TEXT 561-755-7781
If you have any questions about this property please EMAIL your questions to: offers@lexlevinrad.com
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GET WHOLESALE DEALS ON YOUR PHONE. Download our Distressed Real Estate App and get new wholesale real estate deals as we get them on your iPhone or Android phone. Download the free app at this link: http://www.lexmobileapp.com
TO SEE A CURRENT LIST OF OUR WHOLESALE DEALS, go to this link: https://wholesalerealestatedealsinflorida.com
To SIGN UP FOR OUR VIP CASH BUYERS LIST and be notified via email every Monday and Wednesday about our new wholesale real estate deals for the week sign up at this link: http://www.cheaphousesinsouthflorida.com
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For a list of Turnkey investment rental properties in South Florida that are occupied with tenants and are positive cash flow rental properties with property management included please visit: http://www.turnkeypropertiesinflorida.com/
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