| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 45th | Fair |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3820 Losco Rd, Jacksonville, FL, 32257, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2004 |
| Units | 24 |
| Transaction Date | 2020-10-30 |
| Transaction Price | $22,250,000 |
| Buyer | SREIT CAMRI GREEN APT LLC |
| Seller | VESTCOR FUND XVIII LTD |
3820 Losco Rd Jacksonville Multifamily Opportunity
Built in 2004, this 24-unit asset is newer than the neighborhood s average vintage and positioned to compete for renters drawn to nearby retail and parks, according to WDSuite s CRE market data.
Located in Jacksonville s inner-suburban fabric, the neighborhood carries a B+ rating and ranks 112 among 368 metro neighborhoods competitive within the metro while not top tier. Grocery and daily-needs access are a relative strength, with grocery, restaurant, and park density all in the top quartile metro-wide, supporting convenience-driven renter demand. Café and childcare density is limited, which may modestly constrain lifestyle appeal for some cohorts.
The property s 2004 construction is newer than the neighborhood s average 1987 vintage, which can reduce near-term capital exposure and enhance marketing versus older stock. Neighborhood occupancy is below the metro median but has trended up over the last five years, suggesting improving stability. Median contract rents in the neighborhood sit above many peer areas, and the local renter-occupied share of housing units is elevated relative to national benchmarks both supportive of sustained multifamily demand.
Within a 3-mile radius, population and households have grown in recent years, with households expanding faster than population, indicating smaller household sizes and a broader tenant pool. Median household incomes have risen alongside asking rents, which supports absorption, though operators should calibrate pricing to maintain retention where affordability pressure emerges. Elevated home values relative to incomes in the area can sustain renter reliance on multifamily housing, reinforcing occupancy and lease duration for well-positioned assets.
Amenities nearby skew practical: strong access to grocery, pharmacies, restaurants, and parks compares favorably both locally and versus many neighborhoods nationwide, according to CRE market data from WDSuite. This convenience profile, paired with inner-suburban connectivity, can aid leasing velocity and renewal performance.
Safety indicators rank below the metro median and trail national benchmarks. The neighborhood s crime rank sits in the lower half of Jacksonville s 368 neighborhoods, and national percentiles indicate a comparatively higher incidence of both property and violent offenses versus many U.S. neighborhoods.
Investors should underwrite with prudent assumptions enhanced lighting, access control, and active management can help mitigate risk and monitor trendlines, as recent one-year movements suggest volatility. Comparative framing is most useful here: this location is not among the metro s safer quartiles, so operators may prioritize resident experience measures and partnerships that support community safety.
Proximity to established employers supports commuter convenience and a diverse renter base, with corporate services and logistics represented by Anixter, Fidelity National Information Services, Fidelity National Financial, and CSX.
- Anixter corporate offices (5.6 miles)
- Fidelity National Information Services corporate offices (10.9 miles) HQ
- Fidelity National Financial corporate offices (10.9 miles) HQ
- CSX corporate offices (11.0 miles) HQ
The investment case centers on durable renter demand from convenient daily-needs access, a renter-occupied housing share that is elevated versus national norms, and a 2004 vintage that competes well against older neighborhood stock. While neighborhood occupancy runs below the metro median, five-year improvement suggests stabilizing fundamentals as the nearby renter pool expands. According to CRE market data from WDSuite, local amenities (grocery, restaurants, parks) compare favorably within the metro, which can support leasing and renewals.
Key considerations include affordability pressure and safety indicators that lag metro and national benchmarks. These factors argue for disciplined revenue management, resident retention programming, and targeted capital to sustain competitiveness and mitigate turnover risk.
- 2004 construction provides relative competitive positioning and moderates near-term capex versus older local stock.
- Elevated renter-occupied housing share and growing 3-mile households support a deeper tenant base and occupancy stability.
- Strong access to grocery, restaurants, and parks aids leasing velocity and renewal performance.
- Underwrite for affordability pressure and safety-driven retention risk; emphasize resident experience and prudent revenue management.