$338,320
$345,000
1.9%For more information regarding the value of a property, please contact us for a free consultation.
463 BENTWOOD LN Orange Park, FL 32073
8 Beds
8 Baths
3,686 SqFt
Key Details
Sold Price $338,320
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,686 sqft
Price per Sqft $91
Subdivision Cedar Bend
MLS Listing ID 1082936
Sold Date 01/26/21
Bedrooms 8
Originating Board realMLS (Northeast Florida Multiple Listing Service)
Year Built 1982
Property Description
Great opportunity to own rental property in a high demand area. Fully occupied. Current comps show rents are up to 950/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 29.94% IRR and 11.0.5 CASH On Cash investment on a 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 shows 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. 1 AC UNIT RENENTLY REPLACED . NEW FLOORING RECENTLY INSTALLED IN 3 OF THE UNITS RETURNS SUMMARY: Long-term Hold
Net Cash Flow
IRR
Equity Multiple
Average Cash on Cash
Unlevered
$657,184
14.90%
2.85 x
11.05%
Levered
$540,734
92.95%
6.35 x
29.94%
Location
State FL
County Clay
Community Cedar Bend
Area 131-Meadowbrook/Loch Rane
Direction From 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 L onto Cedar Bend Dr Turn R on Lombard then L on Bentwood
Interior
Heating Central
Cooling Central Air
Flooring Tile, Vinyl
Exterior
Garage Assigned, Parking Lot
Pool None
Roof Type Shingle
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
Level or Stories 2
Structure Type Frame,Shell Dash
Others
Tax ID 06042601068710500
Security Features Smoke Detector(s)
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
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Bought with LIGHTHOUSE PROPERTY MANAGEMENT & REALTY LLC