218 Florida 16 St. Augustine, FL 32084
Estimated payment $15,451/month
About This Home
Quadplex, Triplex, and One Commercial Unit on 3 combined parcels located at a hard traffic light! Below Market rents, Lots of Value-Add with long-term redevelopment potential! Current Income approx $186,000 with below market rents- once raised gross income would be almost $230,000! The property's prime corner location and proximity to a high-traffic commercial area, highlighted by the adjacent Circle K, enhance its long-term value as a potential redevelopment site. While the car dealership and multifamily units provide stable, immediate cash flow, the combined 0.61-acre site could attract future interest for higher-density commercial or mixed-use developments. Investors have the flexibility to maintain the existing income-generating properties while exploring future redevelopment opportunities, assembling adjacent parcels, or obtaining entitlements, making this a highly strategic long-term investment.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,573
Year Built
- Built in 1971
Community Details
- 8 Units
- Gross Income $175,800
Listing and Financial Details
- Assessor Parcel Number 091140-0000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,573 | $138,979 | $86,640 | $52,339 |
| 2023 | $1,573 | $137,513 | $86,640 | $50,873 |
| 2022 | $1,320 | $102,665 | $68,400 | $34,265 |
| 2021 | $1,211 | $91,653 | $0 | $0 |
| 2020 | $1,239 | $92,634 | $0 | $0 |
| 2019 | $1,288 | $91,851 | $0 | $0 |
| 2018 | $919 | $64,769 | $0 | $0 |
| 2017 | $922 | $63,718 | $50,160 | $13,558 |
| 2016 | $931 | $63,718 | $0 | $0 |
| 2015 | $849 | $55,195 | $0 | $0 |
| 2014 | $859 | $55,301 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/18/2024 11/18/24 | For Sale | $2,750,000 | -- | -- |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $400,000 | Land Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $320,000 | Commercial |
Source: St. Augustine and St. Johns County Board of REALTORS®
MLS Number: 245459
APN: 091140-0000
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