New Listing - 03/17/2025
6349 ESTLAWN DRIVE Drive, Jacksonville, FL, 32208
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, 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.
Status:
Active
Type:
Lot / Acreage
Subdivision:
Pickett Sibbald Gra
Acreage:
2.95
Current Use
Multi-Family, Residential
Utilities
Cable Available, Electricity Available, Sewer Available, Water Available
Lot Description:
Other
Elementary School:
Sallye B. Mathis
Middle School:
Jean Ribault
High School:
Jean Ribault
MLS #:
2076167
Community Info
School Info
Walk Score
Yelp
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