6349 ESTLAWN DRIVE DR Active Save Request In-Person Tour Request Virtual Tour
Jacksonville,FL 32208
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Square Footage 128,502 sqft
Price per Sqft $13
Subdivision Pickett Sibbald Gra
MLS Listing ID 2076167
HOA Y/N No
Originating Board realMLS (Northeast Florida Multiple Listing Service)
Lot Size 2.950 Acres
Acres 2.95
Property Sub-Type Unimproved Land
Property Description
Fully Entitled Affordable Housing Project with 2.3MM GPR and No Property Tax Residences at Restlawn is a newly entitled 144-unit affordable housing development in Jacksonville, FL, an area with strong demand for veteran and workforce housing. This project benefits from The Live Local Act, which provides favorable financing, affordability incentives, and long-term investment stability. The units will rent at $1,289 per month through the Jacksonville Housing Authority, making them accessible while still generating strong cash flow. One of the standout features of this development is the exemption from property taxes on the building, which significantly reduces expenses and increases net operating income. Jacksonville has a consistent need for affordable and veteran housing, ensuring low vacancy rates and steady occupancy. With a gross potential revenue of nearly $2.3 million annually, this property presents a strong return potential. Additionally, the development qualifies for the Low-Income Housing Tax Credit (LIHTC), and all necessary zoning and unit count approvals are already in place, making it a rare find in the market. Phase 1 environmental assessment completed and clear. With strong cash flow potential, no property tax burden, and high tenant demand, Residences at Restlawn is a great opportunity for investors looking for stable income in the Multi Family sector.
Location
State FL
County Duval
Community Pickett Sibbald Gra
Area 075-Trout River/College Park/Ribault Manor
Direction From Gateway Town Center, head west on Norwood Ave. Turn left onto Clyde Dr, then right onto Restlawn Dr. Your destination, 6349 Restlawn Drive, will be on the left.
Exterior
Utilities Available Cable Available,Electricity Available,Sewer Available,Water Available
Private Pool No
Building
Lot Description Other
Sewer Public Sewer
Water Public
Schools
Elementary Schools Sallye B. Mathis
Middle Schools Jean Ribault
High Schools Jean Ribault
Others
Tax ID 026199-0000
Acceptable Financing Other
Listing Terms Other