| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 49th | Fair |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2768 Sr A1A, Atlantic Beach, FL, 32233, US |
| Region / Metro | Atlantic Beach |
| Year of Construction | 1986 |
| Units | 120 |
| Transaction Date | 2013-08-13 |
| Transaction Price | $7,100,000 |
| Buyer | Marsh Oaks Apartments, LLC |
| Seller | Mid-America Capital Partners, |
2768 SR A1A Atlantic Beach 120-Unit Multifamily
Renter-occupied housing is concentrated in the immediate neighborhood, supporting a deeper tenant base and steady leasing dynamics, according to WDSuite s CRE market data. Occupancy trends are stable at the neighborhood level, suggesting defensible fundamentals with prudent lease management.
The property sits in an Inner Suburb of the Jacksonville, FL metro with a C+ neighborhood rating and a neighborhood rank of 246 out of 368, placing it below the metro median. Investor takeaways are mixed but serviceable: renter-occupied units account for a large share of local housing, which typically supports consistent demand for multifamily units and a wider leasing funnel.
Local rent levels have advanced over the last five years while the neighborhood occupancy rate remains in the mid-to-high 80s and has trended up modestly. At the same time, neighborhood NOI per unit ranks 38 out of 368, which is top quartile among Jacksonville neighborhoods, indicating income performance locally has been competitive versus other subareas in the metro.
Amenity access is uneven. Grocery store density ranks 56 of 368 (top quartile in the metro and strong at the national level), but cafes, parks, childcare, and pharmacies are limited within the neighborhood. This mix points to everyday convenience for residents alongside fewer discretionary amenity nodes, which can influence tenant preferences and marketing positioning.
Demographic statistics aggregated within a 3-mile radius show households increased over the last five years even as population growth was roughly flat, implying smaller average household sizes and a potential broadening of the renter pool. Forward-looking projections indicate household counts may continue to rise with smaller household sizes, a setup that can support occupancy stability for well-managed multifamily assets.
Home values in the neighborhood benchmark in the lower national quartiles. In investor terms, a more accessible ownership market can introduce competition for some renter cohorts, but it can also sustain leasing by positioning professionally managed apartments as convenient, maintenance-light housing with predictable costs. With a neighborhood rent-to-income relationship around one-quarter, affordability pressure appears manageable, supporting resident retention with standard lease and renewal strategies.
Safety indicators for the neighborhood sit in the lower tiers relative to national benchmarks, with crime ranking 221 out of 368 within the Jacksonville metro and violent offense levels positioned in lower national percentiles. This places the area below the metro median and weaker than many neighborhoods nationwide.
Year-over-year crime measures have shown recent increases at the neighborhood level. Investors typically account for this through enhanced on-site controls, lighting and access upgrades, and strong property management presence to support leasing and retention. Comparative due diligence against nearby Jacksonville submarkets can help calibrate underwriting assumptions.
Proximity to downtown Jacksonville s corporate corridor provides access to a diversified employment base that supports renter demand and commute convenience for residents, including roles in rail transportation, financial technology, title insurance, and distribution. The employers below reflect the primary nearby anchors.
- CSX rail transportation (14.7 miles) HQ
- Fidelity National Information Services financial technology (15.4 miles) HQ
- Fidelity National Financial title insurance (15.4 miles) HQ
- Anixter distribution (16.7 miles)
This 120-unit asset in Atlantic Beach is positioned in a renter-dense neighborhood where occupancy has been broadly stable and household counts within a 3-mile radius have increased, expanding the local tenant base. According to CRE market data from WDSuite, neighborhood NOI per unit ranks in the top quartile of Jacksonville subareas, signaling income performance that compares well in the metro and can support a durable, cash-flow oriented thesis with disciplined operations.
Key considerations include uneven amenity density and safety metrics that trail metro and national benchmarks, alongside an ownership market that is relatively accessible and could compete with rentals for some cohorts. These factors argue for hands-on management, targeted resident services, and careful underwriting of lease-up velocity and renewal capture, while leveraging proximity to major Jacksonville employers to support demand.
- Renter-occupied share is high locally, supporting a deeper tenant pool and steadier leasing.
- Neighborhood NOI per unit is top quartile in Jacksonville, indicating competitive income performance.
- Household growth within 3 miles and smaller household sizes point to sustained multifamily demand.
- Everyday convenience from strong grocery access offsets fewer discretionary amenities in the immediate area.
- Risks: below-median safety indicators and a more accessible ownership market warrant conservative underwriting and active management.