1110 CALIENTE DR JACKSONVILLE FL 32211
Stabilized 52 Unit Value Add Multifamily
Marketing description
The multifamily asset situated at 1110 Caliente Drive, commonly known as Cambridge
Park Apartments, represents a stabilized residential community within the Arlington
submarket of Jacksonville, Florida. This 52-unit garden-style apartment complex is
positioned on approximately 0.99 acres of land. Constructed in 1960 and having
undergone significant capital improvements in 2014, the property offers significant
upside with rents below market. The asset’s strategic location within the 32211 zip code
places it at the center of a historical neighborhood currently undergoing a phase of
urban revitalization and commercial infill development. The property is characterized by
its garden-style layout, featuring open courtyards and community spaces that
emphasize a private, quiet residential experience within a densely populated urban
area. The structural composition utilizes masonry and stucco exterior materials, offering
durability against the regional climate while maintaining a low-maintenance facade.
Investment highlights
52 Unit Multifamily property located in Arlington neighborhood of Jacksonville
• 4 - 2 story buildings on .99 acres
• Total Square feet 37,155
• Year Built 1960
• Year Renovated 2014 plus ongoing interior renovations
• 8 studio units of 400 square feet
• 40 1 Bed/1 bath units of 650 square feet
• 4 2 Bed/1bath units of 800 square feet
• Currently 96% occupied
• 50% section 8 tenants paying below Jacksonville Housing authority (32211)
payment standard.
• Upside
o Rents which are below average Jacksonville market.
o Implementation of RUBS of $50-$60 per month per unit.
o Laundry of $1300-$1400 per month with addition of new machines.
• Ownership has repositioned the property with an external freshening up and
renovation of units
• Well maintained property
• CRO (Commercial, residential, office) zoning.
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