725 CHEROKEE Street
Jacksonville, FL, 32205 $ 399,000
Bedrooms3 Baths2.0 Sq 1,096 Monthly Estimate*
$ 2,652
for $399,000 with 3 bedrooms and 2 full baths. This 1,096 square foot home was built in 1938 on a lot size of 0.12.
Multi-Family Property - Comfort & Investment Opportunity Discover a rare gem in Riverside, Jacksonville's premier neighborhood! This exceptional multi-family home blends comfort and lucrative investment potential, perfect for savvy investors or homeowners looking to offset mortgage costs. With over $45K in recent upgrades, this property is move-in ready and poised to generate significant rental income. The main house, located at 725 Cherokee Street, offers a spacious layout with 3 bedrooms and 2 bathrooms, encompassing 1,096 sq. ft. It boasts a fully updated kitchen and bathrooms, complete with new appliances, including a washer/dryer and Ring security cameras. Recent enhancements include a new water heater, a comprehensive $18,000 foundation upgrade, a privacy fence, a new garage door, and a converted storage unit. According to Redfin, the market value of the main house is currently estimated at $297K. In addition to the main residence, the property includes a detached apartment at 2855 Gilmore Street. This independent living space features 1 bedroom, 1 bathroom, a kitchen, a living area, and a dedicated den perfect for remote work. The apartment has undergone extensive updates, including new appliances, a washer/dryer, an efficient AC unit optimized for Florida's climate, fresh exterior and interior paint, a new privacy fence, landscaping, and a new garage door and storage unit. Zillow estimates the value of this unit at $130K, with rental potential ranging from $1,200 to $2,500 per month, which could significantly reduce the owner-occupied monthly payment by 50-100%. Strategically located just 5 minutes from downtown Jacksonville and 2 minutes from prime dining and shopping destinations, Riverside offers a perfect blend of urban accessibility and neighborhood charm. The property is competitively priced at $419,000, below the combined Redfin/Zillow estimates, and benefits from low property taxes. With the potential for interest rate drops, now is the ideal time to invest, as this property is likely to attract increased buyer interest and competitive bidding. This turnkey investment opportunity, with $45,000 in recent repairs and updates, is ready for immediate occupancy or rental. It is ideal for investors looking to capitalize on Jacksonville's thriving rental market or homeowners seeking to reduce living expenses through rental income. The property's versatility as a short-term rental, long-term lease, or Airbnb venue, combined with its status as the only multi-unit offering in Riverside, underscores its unique appeal. Riverside is renowned for its vibrant community, historic charm, and prime location. Owning a property here means enjoying the best of Jacksonville while securing a high-yield investment. This property offers substantial returns and lifestyle benefits in one of the nation's top job markets. Secure this Riverside gem before it becomes the target of competitive bidding. Ideal for investors and families seeking a lucrative, comfortable living arrangement in Jacksonville. Seller is offering a 5K credit for rate buy down and or ext painting with a full price offer, OR Seller's financing for qualified buyers, 20% down, 5% Interest for 3 years If preferred lender is used, buyer will receive $1000 towards closing costs or buydown rate. Schedule a showing today! Contact us to explore this exceptional multi-family home and take advantage of its immense potential.
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FeaturesGeneralInterior Features Primary Bathroom - Shower No Tub Split Bedrooms
Sewer Public Sewer
Heating Central Electric
Cooling Central Air
Utilities Electricity Connected Sewer Connected Water Connected
Possession Close Of Escrow
Roof Shingle
Appliances Dishwasher Dryer Electric Cooktop Electric Oven Electric Water Heater Ice Maker Microwave Refrigerator Washer
Garage Spaces 2.0
Patio/Porch Features Front Porch Rear Porch
Architectural Style Cottage
Pool Features None
Security Features Smoke Detector(s) Other
Year Built 1938
Electric 200+ Amp Service
Stories 1
Levels One
Property SubType Single Family Residence
Tax Year 2023
Current Use Residential
County Duval
New Construction 0
Property Type Residential
HOA / Comm Assn N
Attached Garage N
Subdivision Name Frazees
Garage Y/N Y
Total Rooms 0
Status Active
Directions From I-10 exit and go south on McDuff Avenue 3rd Left on Roselle Street 2nd right onto Cherokee. Home is on the left.
High School Riverside
City Jacksonville
Buyer Agent Compensation 2.50
View Y/N N
Senior Community Y/N N
Zoning Description Residential
MLS Area 031-Riverside
Lot Size Units Acres
Lot Size Square Feet 5227.2
Waterfront Y/N N
Carport Y/N N
Street Name CHEROKEE
Listing Terms Cash Conventional FHA
Elementary School Central Riverside
Property Attached Y/N N
Tax Annual Amount 2166.32
Home Warranty Y/N N
Middle/Junior High School Lake Shore
Property Condition Updated/Remodeled
Lease Renewal Y/N N
MLS Area Minor 031-Riverside
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://youtu.be/Q8VFMq4eePI
Days on Market 24
Standard Status Active
Legal Description 1-61 21-2S-26E FRAZEES S/D WEST RIVERSIDE LOT 6 BL
Cash True
Conventional True
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InteriorFlooring Tile Wood
Furnished Y/N Unfurnished
Fireplace Features Other
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N Y
Full Baths 2
Half Baths 0
Laundry Features In Unit
Total Bedrooms 3
Entry Level 1
Electric On Property Y/N N
Total Baths 2
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ExteriorFencing Wood
Parking Features Detached Garage
Lot Features Corner Lot
Water Source Public
Lot Size Area 0.12
Spa N
Street Suffix Street
Lot Size Acres 0.12
Road Surface Type Asphalt
Road Frontage Type City Street
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList ByColdwell Banker Vanguard RealtyBroker
Affordability Calculator
- Monthly Principal & Interest
- $2,652
- Monthly Property Taxes
- $181
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbySingle family listings in Jacksonville, FL
Average List Price $437,419
Percent of Sale Price 10%
About Jacksonville, FL 899,320 Population
22% Since 2002
$ 49,805 Median Income
37.69 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
3489432 Elementary School
3489433 Middle School
Riverside High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
6/1/2024 | $399,000 | -4.77% | Price Down |
5/14/2024 | $419,000 | | Listed Price |