Inland Real Estate Acquisitions has purchased Magnolia Village Apartments, a 168-unit multifamily property located in Jacksonville, Fla.
Magnolia Village Apartments is a gated community located at 1620 Bartram Road. The property consists of six three-story buildings with 48 one-bedroom, 96 two-bedroom and 24 three-bedroom units. Each unit features nine-foot ceilings, walk-in closets, an in-unit washer and dryer, a garden tub and a patio, screened porch or balcony. Community amenities include a clubhouse, fitness center, picnic and grilling areas and a resort-style swimming pool with a sundeck.
“Located approximately 20 minutes west of the beach, Magnolia Village Apartments’ prime location places residents near a variety of top employers and in close proximity to both Baptist Medical and St. Vincent’s Hospital,” said Cosenza. “Its high-end finishes, strong demographics and ideal location made this property an attractive purchase and a prime example of the type of multifamily acquisitions we continue to seek out.”
As of August 10, 2017, the property was 96.4 percent occupied.