38 E 16TH Street, Jacksonville, FL 32206

New Listing
$525,000
Property Type: Residential Income Bedrooms: 7 Baths: 4 Square Footage: 3,468 Lot Size (sq. ft.): 5,227 Status: Active
Current Price: $525,000 List Date: 5/09/2025 Last Modified: 5/09/2025

Description

Fully renovated 4-unit property in the heart of Springfield. Three units are operating as successful Airbnbs, each bringing in $1,600-$1,700/month. The fourth unit is rented at $950/month on a month-to-month lease. Total monthly income: ~$5,900 with potential to increase. Each unit is separately metered for electric; owner pays water. All units have updated kitchens, bathrooms, HVACs, and modern finishes. Laundry on-site. Street parking available. Located minutes from Downtown, Main Street, and UF Health. Investment Highlights: List Price: $525,000 Gross Monthly Income: ~$5,900 Gross Annual Income: ~$70,800 Estimated Annual Expenses (taxes, insurance, water, maintenance): ~$13,100 Estimated Net Operating Income (NOI): ~$57,700 Estimated Cap Rate: ~11% Perfect for investors looking for a performing asset with upside. Property is fully occupied and generating income from day one.

More Information MLS# 2086660

Contract Information

Current Price: $525,000 List Price: $525,000 Status: Active Listing Contract Date: 2025-05-09 Property Sub Type: Quadruplex

Location Tax and Legal

Street Number: 38 Street Direction Prefix: E Street Name: 16TH Street Suffix: Street County: Duval State: FL Postal Code: 32206 Subdivision Name: Springfield MLS Area Major: 072-Springfield

General Property Information

Number Of Units Total: 4 Bedrooms Total: 7 Bathrooms Total: 4 Bathrooms Full: 4 Living Area: 3468 Living Area Source: Assessor Accessibility Features YN: No New Construction YN: No Year Built: 1929 Garage YN: No Carport YN: No Lot Size Acres: 0.12 CDD Fee YN: No Pool Private YN: No Water Body Access YN: No Waterfront YN: No Furnished: Furnished Stories Total: 2 Directions: from main street take 16th street east. quadplex will be on your right. Public Remarks: Fully renovated 4-unit property in the heart of Springfield. Three units are operating as successful Airbnbs, each bringing in $1,600-$1,700/month. The fourth unit is rented at $950/month on a month-to-month lease. Total monthly income: ~$5,900 with potential to increase. Each unit is separately metered for electric; owner pays water. All units have updated kitchens, bathrooms, HVACs, and modern finishes. Laundry on-site. Street parking available. Located minutes from Downtown, Main Street, and UF Health. Investment Highlights: List Price: $525,000 Gross Monthly Income: ~$5,900 Gross Annual Income: ~$70,800 Estimated Annual Expenses (taxes, insurance, water, maintenance): ~$13,100 Estimated Net Operating Income (NOI): ~$57,700 Estimated Cap Rate: ~11% Perfect for investors looking for a performing asset with upside. Property is fully occupied and generating income from day one. List Price/SqFt: 151.38

Status Change Information

Major Change Timestamp: 2025-05-09T14:36:59Z Major Change Type: New Listing

Currently Not Used

Property Attached YN: No yn11: No

Unit 1 Details

Unit ID: 1 Actual Rent: 1600 Unit SqFt: 867 Beds Total: 2 Full Baths Total: 1 Furnished: Furnished Unit Remarks: airbnb

Unit 2 Details

Unit ID: 2 Actual Rent: 1600 Unit SqFt: 867 Beds Total: 2 Full Baths Total: 1 Furnished: Furnished Unit Remarks: airbnb

Unit 3 Details

Unit ID: 3 Actual Rent: 1600 Unit SqFt: 867 Beds Total: 2 Full Baths Total: 1 Furnished: Furnished Unit Remarks: airbnb

Unit 4 Details

Unit ID: 4 Actual Rent: 950 Unit SqFt: 867 Beds Total: 1 Full Baths Total: 1 Furnished: Furnished Unit Remarks: M2M lease

Property Features

Appliances: Electric Oven; Electric Range; Microwave; Refrigerator Construction Materials: Brick Cooling: Central Air Current Use: Multi-Family Exterior Features: Balcony Flooring: Vinyl Heating: Central Laundry Features: Common Area Listing Terms: Cash; Conventional; FHA; VA Loan Lot Features: Historic Area Owner Pays: Taxes; Water Parking Features: On Street Possession: Close Of Escrow; Subject To Tenant Rights Sewer: Public Sewer Tenant Pays: Electricity Utilities: Cable Connected; Electricity Connected; Sewer Connected; Water Connected Water Source: Public
Listing Office: EMERALD REALTY PARTNERS CORP
Last Updated: May - 09 - 2025
Information deemed reliable but not guaranteed.