Clay County apartments command $16.5 million
The rental component of the Cobblestone at Eagle Harbor Apartments sold for $98,190 per apartment
The rental component of a residential complex just south of Jacksonville sold for $16.5 million or $98,190 per apartment.
Larkspur Properties sold the 168 apartments at the Cobblestone at Eagle Harbor Apartments complex to Venterra Realty.
Cobblestone at Eagle Harbor, a residential complex that also has 160 condominium units, is located in Fleming Island, an unincorporated area of Clay County.
The 39-acre development has 41 two-story buildings, two swimming pools, a clubhouse and a gym.
It was built in 1998 as a rental property and some of the units later were converted to condos. The apartments were 95 percent occupied when the sale closed.
The property has one-bedroom, one-bathroom units that average 823 square feet; two-bedroom, two-bathroom units that average 1,068 square feet, and three-bedroom, three-bathroom units that average 1,210 square feet.
The sale was brokered by Bradley Coe, Douglas Blair and Morgan Williams of brokerage firm Colliers International Northwest Florida.