JACKSONVILLE, FL., – October 18, 2021 – NAI Hallmark is pleased to announce the sale of Westcreek II Apartments for $6,000,000. The multifamily property is located at 5601 California Avenue in Jacksonville, Florida. Senior Associate Luke McCann and Senior Vice President John Rutherford brokered the transaction on behalf of the Seller, Jacksonville based Westcreek Apartments LLC.
“Westcreek II Apartments presents a well-located, value-add opportunity for the new ownership,” said Senior Associate Luke McCann. “The property will benefit from a generous capital improvement plan in addition to an ever-growing Westside, Jacksonville submarket that continues to solidify itself as a logistics and distribution hub for the Southeast.”
The 72-unit asset is located in the Westside submarket of Jacksonville, one mile west of the Interstate-295, and consists of ten buildings built in 1987. The unit mix consists of studio, one-, and two-bedroom units. All buildings are single-story with private patios and washer & dryer connections in most units. The property is ideally located near a well-traveled retail corridor with a significant number of employers within a short drive of the property.
For more information regarding the sale of Westcreek Apartments or any questions relating to multifamily investment assets, please contact Luke McCann at lmm@naihallmark.com
