Flamingo Apartments — Sale in St. Augustine, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: St. Augustine, FL 32084

Photos

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Investment Figures

Cap rate
4.80%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Flamingo Apartments is a 26 unit, 2 story, Class C apartment complex, built in 1946 on 1.42 acres. The gross building area contains 14,474 square feet with 13,800 square feet rentable. It also has a separate building on the grounds containing 1,629 gross square feet with two additional apartment units. Average size of the units is 600 square feet. The buildings are of solid concrete block, with concrete stucco on exterior walls. The roof is constructed of wood truss with roof cover of composite shingles. The property has 30 free surface private parking spaces for tenants. The property provides a laundry room with two coin operated machines. St. Augustine, founded in 1565 by Spanish colonists, is known for extensive historic and tourist attractions. St. Augustine is the county seat for St. Johns county. Among its many attractions, the city is home to Flagler College, Castillo de San Marcos National Monument, the lighthouse, the alligator farm and, of course, the Fountain of Youth. Known for abundant restaurants, hotels, retail shops, fabulous beaches and nearby golf courses, St. Augustine has experienced tremendous growth in recent years. Investment Highlights: • Tucked away on Dufferin Street, a quiet and private location • 5 minute drive East over the Francis and Mary Usina Bridge to Vilano Beach Access, Publix at Vilano Beach Town Center, and Restaurants • 7 minute drive South to the heart of St. Augustine including Flagler College, tourist attractions, restaurants and bars, hotels, Nights of Lights, famous Saint George Street and more • Value-add opportunity through adding amenities, such as a pool, tennis court, and conversion of 2 detached cottage units into a clubhouse • Ample parking for residents and guests

Market Context

This multifamily in St. Augustine, FL is listed for sale. It is offered at an approximate 4.8% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in St. Augustine, FL — view the full market.

As of Q1 2026, the Jacksonville multifamily market showed average asking rents near $1486.50/unit/mo. Source: multiple brokerage reports, Q1 2026.

Contact the listing broker

This listing comes from the Marcus & Millichap website. CREhunt does not pass messages to the broker. Contact the broker directly.

Questions to ask the broker

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  • What is the asking price?
  • What is the current zoning, and does it allow my intended use?
  • How many parking spaces come with the property?

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