ready-to-open

1702 7th St N

Price
Listing Tags
—
Beds
14
Size
2620 sqft
Type
Single Family
1702 7th St N

Overview

A renovated six-bedroom, three-bath home of about 2,620 sq ft in Jacksonville Beach, Florida, within walking distance of the beach and configured for 14 beds. Offered at $7,000 a month.

Lease and Income Structure

The owner is looking for a recovery residence operator to lease the whole house and run it as a sober living home. It is rented short term right now and can be vacated for an operator on request.

The property

The home has been renovated throughout, with wood-look plank flooring and fresh white walls. The kitchen has white shaker cabinets, a tile backsplash, stainless steel appliances and a large center island that opens onto the dining area. A separate living room, dining area and game room give residents plenty of shared space.

There are six bedrooms and three bathrooms. The primary suite has a walk-in closet and a bath with a double vanity and a glass-walled shower. A second bedroom also has its own bath and walk-in closet. A laundry room with a washer and dryer sits off the foyer.

Outside, a paver driveway provides off-street parking, and the large fenced backyard has a patio dining area and a fire pit with seating.

Bed configuration

Based on the bedroom sizes, the house is planned for 14 beds: one private bed and 13 shared beds across the six bedrooms.

Location

Jacksonville Beach is a coastal city in Duval County, east of downtown Jacksonville. The house is on a residential street within walking distance of the beach.

Lease terms

Offered at $7,000 a month. Operators should confirm zoning, licensing and occupancy requirements with the City of Jacksonville Beach before opening.

Property Financials
Bed Data
Private Beds 1
Shared Beds 13
Total Beds 14
Vacancy Rate (estimated) 20%
House Mentors 1.3
Revenue-Producing Beds 9.70
Weekly Rent $250.00
Intake Fee $200.00
Revenue (Annual)
Total Potential Rent Income $182,000.00
Less: Vacancy & Loss $36,400.00
Less: Mentor Rent Credit $16,900.00
Plus: Intake Fee Revenue $4,400.00
Plus: Laundry Service Revenue $2,288.00
Total Revenue $135,388.00
Expenses (Annual)
Operating Expenses $16,679.00
Property Insurance $2,600.00
Operator Compensation $24,000.00
Valuation
Capitalization Rate 8.50%

Work Needed

None. The home has been fully renovated and is ready to open.