| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2678 Saint Johns Bluff Rd S, Jacksonville, FL, 32246, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2005 |
| Units | 28 |
| Transaction Date | 2019-08-22 |
| Transaction Price | $9,331,200 |
| Buyer | AT OWNER 12 LP |
| Seller | VESTCOR FUND XXVIII LTD |
2678 Saint Johns Bluff Rd S Jacksonville 28-Unit Multifamily
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting a deeper tenant base even as neighborhood occupancy has moderated, according to WDSuite’s CRE market data. Position within Jacksonville’s inner suburbs offers steady workforce demand and manageable leasing velocity.
This Inner Suburb location balances everyday convenience with broad renter appeal. Neighborhood amenity access tests above the national median, with cafes, groceries, restaurants, and parks all trending in the upper half of U.S. neighborhoods by density. Average school ratings are below the national midpoint, which may temper family-driven demand but typically aligns with workforce-oriented renter profiles.
Neighborhood rents track in the mid-range locally, and the neighborhood occupancy rate is below both the metro median and national medians, pointing to competitive leasing conditions and the need for active asset management. By contrast, the neighborhood’s renter-occupied share is high, indicating a sizable tenant pool and reinforcing demand depth for multifamily assets.
Construction in the area skews late-1990s on average, and this property’s 2005 vintage positions it as relatively newer stock. That tends to support competitive positioning versus older assets, while still warranting attention to mid-life building systems and selective modernization to sustain absorption and retention.
Within a 3-mile radius, population and households have grown over the last five years, with additional growth projected, expanding the prospective renter base. Median household incomes have also advanced, which can support rent levels, though rising rents may require careful lease management to maintain retention. Elevated ownership costs are not a defining feature here; more accessible ownership options mean some competition with entry-level for-sale housing, so value-forward amenity packages and well-managed concessions can be decisive.
Relative to neighborhoods nationwide, this area scores below the national median for safety, with both violent and property offenses elevated on a comparative basis. Within the Jacksonville metro, the neighborhood places in the lower tiers among 368 neighborhoods, suggesting investors should underwrite to stronger on-site security practices and consider measures that support resident comfort.
Recent year-over-year trends indicate increases in reported offenses. While conditions can vary block by block and may change over time, prudent planning around lighting, access control, and community standards can help stabilize operations and support lease retention.
Proximity to major corporate employers supports steady renter demand and commute convenience, particularly for transportation and financial services workers. Nearby anchors include CSX, Fidelity National Financial, Fidelity National Information Services, and Anixter.
- CSX — rail transportation (8.4 miles) — HQ
- Fidelity National Financial — title insurance (9.0 miles) — HQ
- Fidelity National Information Services — fintech (9.0 miles) — HQ
- Anixter — electrical & network distribution (11.2 miles)
Built in 2005, this 28‑unit asset sits newer than the neighborhood’s late-1990s average, offering a competitive edge versus older stock while approaching the phase where selective system updates and unit refreshes can drive value. The surrounding neighborhood shows high renter concentration and amenity access above national medians, supporting a broad tenant base even as neighborhood occupancy trends remain softer than metro norms. Based on CRE market data from WDSuite, these dynamics point to stable workforce demand with room for operational upside through focused leasing, renewals, and targeted upgrades.
Within a 3-mile radius, recent population and household growth, along with additional growth projected, indicate a larger tenant pool over the medium term. Income gains support rent levels, but more accessible ownership options in the area and below-median school ratings call for disciplined pricing, resident services, and value-forward positioning to sustain occupancy and retention.
- 2005 vintage provides relative competitiveness with value-add potential from mid-life system and interior upgrades.
- High neighborhood renter concentration supports demand depth and renewal potential.
- 3-mile radius shows recent and projected growth, expanding the renter pool and supporting leasing.
- Proximity to corporate employers underpins workforce housing demand and commute convenience.
- Risks: below-median safety metrics and softer neighborhood occupancy require active asset management and prudent security planning.