$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
Waterfront No
Roof Type Shingle
Parking Type Assigned, Parking Lot
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