JACKSONVILLE, FL., – August 23rd, 2022 – NAI Hallmark announces the sale of Post Street Apartments at a price of $3,400,000. The 24-unit multifamily property is located at 2877-2887 Post Street in Jacksonville, Florida. Vice President Luke McCann and Senior Vice President John Rutherford brokered the transaction on behalf of Pango Holdings, the Seller, and Pointland Group, the Buyer.
“NAI Hallmark is pleased to have represented the Seller and Buyer in the sale of Post Street Apartments. The property is in a premier location within the Riverside submarket, less than a half mile from the popular Kings Street District, and offers the potential to complete a proven interior value-add program,” said McCann. “We’re excited to see the Buyer implement the next phase of improvements on this well-located asset.”
Situated on 0.44 acres, the multifamily asset was built in 1970 and consists of 24 units in 3 two-story buildings comprised of one-bedroom units. Thirteen units have been renovated in the past year with in-unit laundry appliances and all major capex items have been addressed in recent years. The Riverside location is one of Jacksonville’s most attractive submarkets boasting high occupancy and rent growth.
For more information regarding the sale of Post Street Apartments or any questions relating to multifamily investment assets, please contact Luke McCann at lmm@naihallmark.com.
