461 BENTWOOD Lane, Orange Park, FL 32073 (MLS# 1084452)

461 BENTWOOD Lane, Orange Park, FL 32073

$355,000
Property Type: Residential Income Bedrooms: 8 Baths: 48 Square Footage: 22,116 Status: Closed
Current Price: $355,000 List Date: 11/27/2020 Last Modified: 2/04/2025

Overview

Description

Great opportunity to own rental property in a high demand area. Fully occupied. Current comps show rents are up to 950- 1050/m in this community HUD FAIR MARKET RENT IS $1,120.00 PER MONTH Plenty value add, . With property management in place this is a potential 34.03% IRR and 30.27% CASH offered at 8% Cap Rate 10 year hold SEE PROFORMA. This property has been well maintained. All annual lease. See attached Proforma. Hud Fair Market Rents for 2021 for zip code 32073 is $1120 for 2 bed room. Plenty of upside! Public records show property as having only one bath but there is a half bath in each unit connected to the master bedroom. Tenant Pays Water and Electric all units are metered individually. NEW FLOORING RECENTLY INSTALLED IN 95% OF THE UNITS See attached Docs

Supplements: This is being offer as a portfolio of 6 quadraplexes in the same neighbor hood. 469,464,461 Bentwood and 471,468,454 Crabapple court will be listed separately also . Owner Prefers to sell as a package deal but will sperate for strong offer

Listing Details MLS# 1084452

General Property Information

Number Of Units Total
24
Bedrooms Total
8
Bathrooms Total
48
Bathrooms Full
24
Bathrooms Half
24
Living Area
22116
Living Area Source
Public Records
Year Built
1982
Garage Spaces
48
Pool Private YN
No
Water Body Access YN
No
Waterfront YN
No
Stories Total
2
Stories
2
Directions
295 - At exit 12, take ramp right for SR-21 toward Orange Park Mall Turn left onto SR-21 S / Blanding Blvd Turn right onto Wells Rd Turn left onto Cedar Bend
Public Remarks
Great opportunity to own rental property in a high demand area. Fully occupied. Current comps show rents are up to 950- 1050/m in this community HUD FAIR MARKET RENT IS $1,120.00 PER MONTH Plenty value add, . With property management in place this is a potential 34.03% IRR and 30.27% CASH offered at 8% Cap Rate 10 year hold SEE PROFORMA. This property has been well maintained. All annual lease. See attached Proforma. Hud Fair Market Rents for 2021 for zip code 32073 is $1120 for 2 bed room. Plenty of upside! Public records show property as having only one bath but there is a half bath in each unit connected to the master bedroom. Tenant Pays Water and Electric all units are metered individually. NEW FLOORING RECENTLY INSTALLED IN 95% OF THE UNITS See attached Docs
List Price/SqFt
98.25
Sold Price/SqFt
16.05

Property Features

Appliances: Dishwasher; Disposal; Electric Oven; Electric Range; Electric Water Heater; Refrigerator Construction Materials: Frame; Shell Dash Cooling: Central Air Flooring: Tile; Vinyl Heating: Central Listing Terms: Cash; Conventional; FHA; VA Loan Owner Pays: Grounds Care; Insurance; Management; Other Tax; Pest Control; Trash Collection Pool Features: None Possession: Negotiable; Other Road Surface Type: Asphalt Roof: Shingle Sewer: Public Sewer Water Source: Public

Contract Information

Listing Contract Date
2020-11-25
Property Sub Type
Quadruplex

Location Tax and Legal

Street Number
461
Street Name
BENTWOOD
Street Suffix
Lane
County
Clay
State
FL
Postal Code
32073
Subdivision Name
Cedar Bend
MLS Area Major
131-Meadowbrook/Loch Rane

Status Change Information

Major Change Timestamp
2021-03-09T17:21:55Z
Major Change Type
Status Change
Purchase Contract Date
2020-12-30
Close Date
2021-01-29
Close Price
355000

Income and Expenses

Gross Income
259200
Gross Scheduled Income
28800
Operating Expense
9600

More Information

Historical Information

Public Historical Remarks 1
Occupancy Rate: 92, Annual Property Tax: 20526, Annual Fees and Income-Annual Mgmt Fee: 18483, Annual Fees and Income-Annual Insurance Exp: 5163, Lot Location-Suburban: Y, Possible Financing-1031 Exchange: Y, Approx Lease SqFt: 22116.00, Present Common Exp: Water, Number of Buildings: 4+ Buildings, Present Rental Terms: Month to Month,Year,6 + Month, Two Bedroom Rentals: $801 to $1000/Month,$1001 to $1500/Month
Public Historical Remarks 2
Annual Rent: 257000.00, Number of Units-21 - 25 Units: Y, # 2 Bedroom Units: 24, Annual Utilities: 9600, Present Tenant Exp: All Electric,Water

Location, Tax, and Legal

Country
US
Parcel Number
06042601068710400

Appliances

Dishwasher
Yes
Disposal
Yes
Electric Oven
Yes
Electric Range
Yes
Electric Water Heater
Yes
Refrigerator
Yes

Construction Materials

Frame
Yes
Shell Dash
Yes

Cooling

Central Air
Yes

Flooring

Tile
Yes
Vinyl
Yes

Heating

Central
Yes

Listing Terms

Cash
Yes
Conventional
Yes
FHA
Yes
VA Loan
Yes

Owner Pays

Grounds Care
Yes
Insurance
Yes
Management
Yes
Other Tax
Yes
Pest Control
Yes
Trash Collection
Yes

Pool Features

None
Yes

Possession

Negotiable
Yes
Other
Yes

Road Surface Type

Asphalt
Yes

Roof

Shingle
Yes

Sewer

Public Sewer
Yes

Water Source

Public
Yes
Listing Office: FLORIDA HOMES REALTY & MTG LLC
Source MLS Verified
Last Updated: February - 04 - 2025
Information deemed reliable but not guaranteed.