Description of 1718 Pine Grove Avenue, Jacksonville - MLS# 2167673
Historic character, established income and an exceptional location come together in this rare 1924 quadruplex in the heart of the Avondale Historic District. Featuring four 1-bedroom, 1-bath apartments each with historic charm, original hardwood floors, large windows providing abundant natural light, and period architectural details. Select units feature decorative fireplaces, updated kitchens and baths, and private outdoor space. The distinctive front entry is framed by classical columns supporting an upper balcony, while an additional upper porch overlooks the side and rear of the property—inviting spots for tenants to enjoy a morning cup of coffee or unwind at the end of the day. All four units are currently leased, with total scheduled rents of $4,920 per month / $59,040 annually, providing immediate income for the next owner. With major infrastructure improvements already completed, a strong rental history and additional opportunity to enhance the units over time. The building has approximately $42,000 in recent capital improvements, including a complete electrical rewire with four new 100-amp panels, new CPVC water lines and PVC drain lines, exterior painting, kitchen renovations in Units 2 and 3, updated fans and fixtures, and a new shared exterior washer and dryer. The location is one of Pine Grove's greatest assets. Located in one of the most walkable areas of Jacksonville, residents can step out the front door for a stroll in Boone Park or walk a few blocks to the Shoppes of Avondale where they can find neighborhood cafés, restaurants, and boutiques. The St. Johns River is also just a few blocks away, with small neighborhood pocket parks offering places to fish, sit by the water or simply enjoy the view. Outside, the property offers something increasingly hard to find in an urban multifamily investment: a large backyard with mature trees and plenty of room for tenants to enjoy outdoor space. Opportunities to purchase a historic four-unit property in the Avondale Historic District are increasingly rare—particularly one with this combination of location, established income, major recent improvements and neighborhood lifestyle.. Pine Grove offers a compelling combination of historic character, income and future upside in one of Jacksonville's most desirable and walkable historic neighborhoods.
