JACKSONVILLE, FL., – March 31, 2022 – NAI Hallmark announces the sale of Kabana Cove Apartments for $8,600,000. The property is located at 6595 San Juan Avenue, Jacksonville, FL 32210. Vice President Luke McCann and Senior Vice President John Rutherford brokered the transaction on behalf of Inman Equities, the Seller, and Investor Boardroom, the Buyer.
“NAI Hallmark is pleased to have represented the Seller and Buyer in the sale of Kabana Cove Apartments,” said Vice President Luke McCann of NAI Hallmark. “Kabana Cove has recently undergone a rebranding with a complete exterior renovation including new paint, landscaping, and pool upgrades. Many of the interiors have also been renovated, giving new ownership a proven model to finish the remaining renovations and stabilize rents in a submarket that saw explosive rent growth of nearly 24% for YOY February 2022.”
The multifamily asset was built in 1974 and consists of fifty-five two-bedroom, one-bath units and twenty-five one-bedroom, one-bath units situated on 3.11 acres. The property is located just south of the Hyde Park Golf Club near the intersection of San Juan Avenue and Lane Avenue. For more information regarding the sale of Kabana Cove Apartments or any questions relating to multifamily investment assets, please contact Luke McCann at lmm@naihallmark.com
