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Jacksonville,FL 32244
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Square Footage 86,684 sqft
Price per Sqft $9
Subdivision Ortega Bluff
MLS Listing ID 2077115
HOA Y/N No
Originating Board realMLS (Northeast Florida Multiple Listing Service)
Annual Tax Amount $4,357
Lot Size 1.990 Acres
Acres 1.99
Property Sub-Type Unimproved Land
Property Description
Fully Entitled Affordable Housing Project with 1MM GPR and No Property Tax. Ortega Bluff is a newly entitled 60-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. These units will rent at $1,381 per month through the Jacksonville Housing Authority. One of the standout features of Live Local Act Developments 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. Additionally, this 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 ESA completed and clear.
Location
State FL
County Duval
Community Ortega Bluff
Area 067-Collins Rd/Argyle/Oakleaf Plantation (Duval)
Direction From the Dollar General store at 8159 Ortega Bluff Parkway, head southeast on Ortega Bluff Parkway for approximately 0.3 miles. Your destination, 8519 Ortega Bluff Parkway, will be on the right.
Exterior
Utilities Available Cable Available,Electricity Available,Natural Gas Available,Sewer Available,Water Available
Private Pool No
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
Others
Tax ID 0991200020
Acceptable Financing Other
Listing Terms Other