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

$355,000

461 BENTWOOD Lane
Orange Park, FL 32073
MLS# 1084452
Status: Closed
8 beds | 48 baths

1 / 9

Property 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

Details

Documents

Location, Tax, and Legal

Country: US

Parcel Number: 06042601068710400

General Property Information

Bathrooms Half: 24

Living Area: 22116

Number Of Units Total: 24

Living Area Source: Public Records

Waterfront YN: No

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

Garage Spaces: 48

Pool Private YN: No

Stories: 2

Stories Total: 2

Water Body Access YN: No

List Price/SqFt: 98.25

Sold Price/SqFt: 16.05

Bedrooms Total: 8

Bathrooms Total: 48

Bathrooms Full: 24

Year Built: 1982

Appliances

Dishwasher: 1

Disposal: 1

Electric Oven: 1

Electric Range: 1

Electric Water Heater: 1

Refrigerator: 1

Construction Materials

Frame: 1

Shell Dash: 1

Cooling

Central Air: 1

Flooring

Tile: 1

Vinyl: 1

Heating

Central: 1

Income and Expenses

Gross Income: 259200

Gross Scheduled Income: 28800

Operating Expense: 9600

Listing Terms

Cash: 1

Conventional: 1

FHA: 1

VA Loan: 1

Owner Pays

Grounds Care: 1

Insurance: 1

Management: 1

Other Tax: 1

Pest Control: 1

Trash Collection: 1

Pool Features

None: 1

Possession

Negotiable: 1

Other: 1

Road Surface Type

Asphalt: 1

Roof

Shingle: 1

Sewer

Public Sewer: 1

Water Source

Public: 1

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

Contract Information

Current Price: $355,000

Sold Price: $355,000

Status: Closed

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

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

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 Office: FLORIDA HOMES REALTY & MTG LLC

Last Updated: February - 04 - 2025

Information deemed reliable but not guaranteed.