| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 55th | Good |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1140 Kendall Town Blvd, Jacksonville, FL, 32225, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2006 |
| Units | 32 |
| Transaction Date | 2007-03-15 |
| Transaction Price | $27,227,500 |
| Buyer | KENDALL LAKES APARTMENTS LLC |
| Seller | GLENMONT ARLINGTON KENDALL LLC |
1140 Kendall Town Blvd, Jacksonville Multifamily Snapshot
Inner-suburban location with a deep renter base and improving neighborhood occupancy supports durable leasing, according to WDSuite’s CRE market data. Newer 2006 vintage versus local stock positions the asset competitively while keeping value-add optional rather than mandatory.
The property sits in an Inner Suburb of Jacksonville rated A- and ranked 63 out of 368 metro neighborhoods—competitive among Jacksonville neighborhoods based on WDSuite’s CRE market data. Restaurants and daily conveniences are a local strength, with dining density in the top decile nationally and pharmacies and parks above national averages, which typically helps leasing and day-to-day livability for residents.
Construction year 2006 is newer than the neighborhood’s average 1986 vintage, signaling relative competitiveness versus older stock. Investors can plan for selective modernization and systems updates over time rather than immediate heavy capex, a helpful consideration in value preservation and repositioning strategies.
Neighborhood occupancy is below the national midpoint but has improved over the past five years, which can support steadier cash flows if operations are managed well. Renter-occupied housing is a majority share at the neighborhood level, indicating a deep tenant base for multifamily assets. At the same time, median contract rents sit above many U.S. neighborhoods while the local rent-to-income ratio trends lower nationally, a mix that can aid retention and reduce lease churn.
Within a 3-mile radius, population and household counts have grown in recent years with further gains projected, expanding the potential renter pool. Household sizes are edging smaller, which often sustains demand for apartments across a range of unit types. Elevated ownership costs relative to incomes in the neighborhood context tend to reinforce reliance on rental options, supporting occupancy and pricing power for well-managed assets.
Amenities are a relative strength, but childcare options are sparse compared with metro peers, which may influence unit-mix appeal for some family renters. School ratings are not available in this dataset, so investors should verify local education quality during diligence.
Safety indicators for the neighborhood track weaker than both national and metro benchmarks. Based on WDSuite data, the area sits in the lower end nationally for both violent and property offense measures, and its metro rank is toward the bottom half among 368 Jacksonville neighborhoods. Recent year-over-year figures also point to volatility.
Investors should underwrite with conservative assumptions for security, insurance, and turnover, and weigh on-site measures (lighting, access control, monitoring) alongside resident screening and community partnerships. Comparing trends to nearby submarkets during diligence can help calibrate expected operating costs and leasing velocity.
Proximity to several major employers supports a broad commuter tenant base and can aid leasing stability, notably in transportation, financial services, and distribution. The list below reflects nearby employment anchors relevant to day-to-day commute patterns.
- CSX — transportation & logistics (6.8 miles) — HQ
- Fidelity National Financial — financial services (7.5 miles) — HQ
- Fidelity National Information Services — financial technology (7.5 miles) — HQ
- Anixter — distribution (14.2 miles)
This 2006-vintage, inner-suburban Jacksonville asset benefits from a renter-heavy neighborhood, improving occupancy momentum, and strong amenity access that supports day-to-day living and lease retention. According to CRE market data from WDSuite, the neighborhood ranks competitive within the metro and shows dining, parks, and pharmacies above national averages—factors that typically underpin stabilized demand. Newer vintage relative to local stock enhances competitive positioning while leaving room for targeted upgrades rather than immediate major capex.
Within a 3-mile radius, recent and projected gains in population and households point to a larger tenant base and support for occupancy stability. Elevated ownership costs relative to incomes at the neighborhood level tend to sustain reliance on rentals, while a relatively favorable rent-to-income profile can aid renewal rates. Risks include weaker safety metrics versus metro and national benchmarks and below-national-average NOI per unit, which calls for disciplined expense control and thoughtful amenity/security programming.
- Renter-heavy neighborhood and improving occupancy support leasing durability
- 2006 vintage outcompetes older stock with selective value-add potential
- Amenity-rich location (dining, parks, pharmacies) aids retention and absorption
- 3-mile population and household growth expand the renter pool and support stability
- Risks: weaker safety indicators and below-national NOI per unit require conservative underwriting