Investment Offering
SAB Capital is pleased to present Weber 5B Apartments, a family designated, scattered site, apartment community in Jacksonville, Florida. The property includes 7, two-story apartment buildings. The buildings were constructed using concrete slab foundations, and CB/Stucco exterior. The property’s current mix includes 28, two-bedroom, one-bathroom units. The property features an Option 2 HAP contract that covers 100% of the units and runs through 7/31/2026. The current contract rents are below the 2022 FMR’s. The last reported REAC was a 68c on 8/16/2021.
- Weber 5B Apartments in Jacksonville, FL | Largest City by Area in the United States
- Scarce Asset | 100% Project-Based Section 8 Rent Subsidy Contract | 4-Year Renewal Executed in 2022
- Located in Quality Census Tract (QCT) | 30% Eligible Basis Boost for Federal LIHTC
- Mark to Market Use Agreement | 30 Year Agreement Expiring in 2031
- Strong Demographics | More Than 89,000 Residents Within 3 Miles | 10% Increase from 2010
- High Rental Rate | 67.4% of Residents in Census Tract are Renters | Nearly Double the National Average
| Tenant | Price | Cap Rate | Lease Type | Square Feet | Status |
|---|---|---|---|---|---|
| Weber 5b Apartments | $ | % | Closed |
