Multifamily

Merrill Oaks

5659 Merrill Rd, Jacksonville, FL 32277

Listing Price: $1,395,000

Cap Rate
5.50%
Number of Units
17
Occupancy
94.00%
Price/Unit
$82,059
Price/Gross SF
$162.61
Gross SF
8,579

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present Merrill Oaks, a 17-unit apartment community in Jacksonville, FL. Merrill Oaks spans across a spacious 1.82 acres of mature landscaping giving tenants a more private and quiet lifestyle than in a densely built apartment complex. The property consists of four single story quadraplexes, in which each of the 16 units are one-bedroom/one-bath, plus a 1,779 square foot, three-bedroom/two-bath, single family residence on the south end of the community. All five buildings are 1960’s concrete block construction with newly replaced pitched shingle roofs. The units feature remodeled kitchens, new appliances, AC systems, and water heaters, and have been re-plumbed. The residents also enjoy access to ample off-street parking. Merrill Oaks is conveniently located off of Merrill Road, 300 feet from the intersection of Merrill Road and University Boulevard, both major east-west and north-south thoroughfares, giving residents easy access to major downtown employment hubs, the Jacksonville International Airport, and the Beaches. Major Points of interest in proximity to Merrill Oaks include Jacksonville University (0.1 miles), Interstate 295 (2.5 miles), Regency Square Mall (4.1 miles), Downtown Jacksonville (4.5 miles), Memorial Hospital (4.8 miles), and the St. Johns Town Center (9.6 miles).

Investment Highlights

  • Stabilized Asset with Upside Potential
  • Concrete Block Construction
  • New Roofs, Plumbing, Water Heaters, Appliances, and AC Systems
  • Recently Remodeled Kitchens
  • Abundant Off-Street Parking

Exclusively Listed By

Listing Price: $1,395,000

Cap Rate
5.50%
Number of Units
17
Occupancy
94.00%
Price/Unit
$82,059
Price/Gross SF
$162.61
Gross SF
8,579

Investment Highlights

  • Stabilized Asset with Upside Potential
  • Concrete Block Construction
  • New Roofs, Plumbing, Water Heaters, Appliances, and AC Systems
  • Recently Remodeled Kitchens
  • Abundant Off-Street Parking

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present Merrill Oaks, a 17-unit apartment community in Jacksonville, FL. Merrill Oaks spans across a spacious 1.82 acres of mature landscaping giving tenants a more private and quiet lifestyle than in a densely built apartment complex. The property consists of four single story quadraplexes, in which each of the 16 units are one-bedroom/one-bath, plus a 1,779 square foot, three-bedroom/two-bath, single family residence on the south end of the community. All five buildings are 1960’s concrete block construction with newly replaced pitched shingle roofs. The units feature remodeled kitchens, new appliances, AC systems, and water heaters, and have been re-plumbed. The residents also enjoy access to ample off-street parking. Merrill Oaks is conveniently located off of Merrill Road, 300 feet from the intersection of Merrill Road and University Boulevard, both major east-west and north-south thoroughfares, giving residents easy access to major downtown employment hubs, the Jacksonville International Airport, and the Beaches. Major Points of interest in proximity to Merrill Oaks include Jacksonville University (0.1 miles), Interstate 295 (2.5 miles), Regency Square Mall (4.1 miles), Downtown Jacksonville (4.5 miles), Memorial Hospital (4.8 miles), and the St. Johns Town Center (9.6 miles).

Exclusively Listed By

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