| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 67th | Good |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2001 Hodges Blvd, Jacksonville, FL, 32224, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1989 |
| Units | 20 |
| Transaction Date | 2012-11-07 |
| Transaction Price | $29,400,000 |
| Buyer | 2001 HODGES OWNER LLC |
| Seller | LANDMARK AT CRESCENT RIDGE LP |
2001 Hodges Blvd Jacksonville Multifamily Value-Add
Neighborhood metrics point to durable renter demand with a high share of renter-occupied units and solid amenity access, according to WDSuite s CRE market data. Focus here is on submarket fundamentals not the property including renter concentration and occupancy measured at the neighborhood level.
The property sits in an Inner Suburb of Jacksonville where daily conveniences are close by. Neighborhood amenity density is favorable for groceries and dining (both strong versus national norms), while parks and pharmacies are limited in the immediate area. For investors, this mix supports everyday livability and leasing appeal, with some lifestyle amenities potentially requiring short drives.
Renter-occupied share in the neighborhood is elevated versus both metro and national patterns (ranked strongly among 368 Jacksonville neighborhoods), indicating depth in the tenant base and potential demand stability for multifamily. Neighborhood occupancy trends track below national medians, so pricing and lease management may require a steady, operations-focused approach rather than outsized rent pushes.
Home values in the neighborhood are higher than the U.S. median, a high-cost ownership context that can reinforce reliance on rental housing and support retention for well-managed properties. Contract rents in the area are positioned in the upper ranges nationally, but rent-to-income levels suggest manageable affordability pressure; operators can prioritize renewals and targeted upgrades to sustain occupancy and leasing momentum.
Within a 3-mile radius, demographics show recent population growth with a projected expansion in both households and incomes through the forecast period, pointing to a larger tenant base over time. Household sizes are trending smaller, which can favor smaller formats and updated finishes. These demand markers, based on CRE market data from WDSuite, align with steady renter interest and potential for selective value-add execution.
Safety indicators for the neighborhood trend below national norms (lower national percentile), placing it among less favorable areas on a nationwide basis. Within the Jacksonville metro, the neighborhood sits in the less safe half of the 368 neighborhoods evaluated. Recent year-over-year changes show increases in both property and violent offenses, underscoring the need for standard security measures and resident engagement to support retention.
Investors typically address this profile with practical measures lighting, access controls, and community standards to maintain leasing performance. Always compare these trends against submarket peers and ongoing citywide initiatives when underwriting.
The broader employment base features major corporate offices that help anchor white-collar demand and commuting patterns relevant to renter retention. Nearby employers include CSX, Anixter, Fidelity National Information Services, and Fidelity National Financial.
- CSX rail & logistics HQ offices (12.3 miles) HQ
- Anixter distribution & electrical supply offices (12.8 miles)
- Fidelity National Information Services financial technology (13.0 miles) HQ
- Fidelity National Financial title & insurance services (13.0 miles) HQ
Built in 1989, the asset is older than nearby stock, which averages the early 2000s. That vintage creates clear value-add and capital planning angles: modernize interiors, address building systems as needed, and position against newer comparables while aiming to preserve occupancy. Neighborhood conditions indicate strong renter-occupied share and solid amenity access, with ownership costs on the higher side supporting continued reliance on rentals. According to CRE market data from WDSuite, neighborhood occupancy trends are below national medians, suggesting that returns will hinge on disciplined operations and targeted upgrades rather than aggressive rent growth.
Within a 3-mile radius, population and households are set to expand, and incomes are projected to rise, enlarging the tenant pool and supporting rent rolls over time. Proximity to established employers underpins white-collar demand. Key risks include below-median safety indicators and the need for ongoing security and resident programming to support retention.
- 1989 vintage positions the property for value-add through interior refresh and systems updates versus early-2000s neighborhood stock
- Elevated renter-occupied share supports a deeper tenant base and leasing durability
- Higher-cost ownership market reinforces rental reliance and potential pricing power with careful lease management
- 3-mile demographics point to population and income growth, supporting long-term rent rolls
- Risks: below-national-median safety metrics and sub-median occupancy require security measures and disciplined operations