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,… Read More 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. Read Less
This data up-to-date as of . Listing courtesy of HOMECOIN.COM.
The data relating to real estate for sale on this web site comes in part from the Internet
Data Exchange (IDX) program of the Northeast Florida Multiple Listing Service, Inc. Real estate
listings held by brokerage firms other than HOMECOIN.COM are marked with the listing broker’s
name and detailed information about such listings includes the name of the listing brokers. Data
provided is deemed reliable but is not guaranteed.
Data last updated . Information herein is deemed reliable but not guaranteed and is provided exclusively for consumers personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Source: Northeast Florida MLS Data last updated:
Confirm your time
Fill in your details and we will contact you to confirm a time.
