JACKSONVILLE, FL., – January 3, 2021 – NAI Hallmark announces the sale of Cambridge Park Apartments for $4,300,000. The property is located at 1110 Caliente Drive, Jacksonville, Florida 32211. Senior Associate Luke McCann and Senior Vice President John Rutherford brokered the transaction on behalf of the seller, a private investor.
“NAI Hallmark is pleased to have represented the Seller and Buyer in the off-market transaction of Cambridge Park. The property represents a tremendous value-add opportunity in a rapidly gentrifying neighborhood of the Arlington submarket with nearly all nearby multifamily and commercial property seeing significant capital investment over the past three years.“ said Senior Associate Luke McCann of NAI Hallmark. “We look forward to seeing further growth and development in this suburb community of Downtown Jacksonville.”
The 52-unit multifamily asset was built in 1960 and is comprised of studio, one and two-bedroom units housed in a two-story building situated on approximately one acre. The property is conveniently located in Arlington between the St. Johns River and College Park (the Town & Country Plaza redevelopment).
For more information regarding the sale of Cambridge Park Apartments or any questions relating to multifamily investment assets, please contact Luke McCann at lmm@naihallmark.com
