Price: $5,750,000
Style: Multi Family
Approx. Square Footage: 

Bedrooms:
 120 Units
Baths:
 

Description:

JUST REDUCED 1 MILLION DOLLARS!!...And now at 90% occupancy! The Legends is located within walking distance to Jacksonville University and lots of new growth/development. The property has new roofs, newly resurfaced and restriped parking lots, new clubhouse, new office, newly resurfaced pool and pool deck, new pool pumps/filters, new security and lighting systems, new or refurbished a/c units on 60+ apartments, interior rehab (paint/carpet/appliances/cabinets) on dozens of units. The aforementioned has enabled management to drastically increase occupancy while reducing tenant issues such as delinquency and turnover. Continuing on this path will allow a new owner to add additional value to the property while increasing occupancy and cash flow. Jacksonville University recently sold 70 acres of their riverfront property across the street to developers of a community-transforming project. The Dolphin Reef will include retail, residential and a worldclass marina that will have positive impact on the value and prestige of The Legends.