| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 51st | Fair |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4320 Sunbeam Rd, Jacksonville, FL, 32257, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1997 |
| Units | 24 |
| Transaction Date | 2020-10-30 |
| Transaction Price | $31,950,000 |
| Buyer | SREIT LEIGH MEADOWS APARTMENTS LLC |
| Seller | VCP SB ASSOCIATES LTD |
4320 Sunbeam Rd, Jacksonville Multifamily Investment
Positioned in an inner-suburban pocket with steady renter demand and mid-tier occupancy, this 24-unit asset offers durable cash flow potential with value-add upside, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of Jacksonville rated A- and ranked 89 out of 368 metro neighborhoods, indicating performance that is competitive among Jacksonville neighborhoods and near the top quartile locally. Neighborhood occupancy hovers around 90.8%, supporting baseline leasing stability for multifamily owners.
Renter-occupied housing makes up roughly 42.6% of neighborhood units, signaling a meaningful tenant base for small and mid-sized assets. Within a 3-mile radius, recent population and household growth, coupled with projections for additional renter pool expansion over the next five years, point to continued demand that can support occupancy and lease retention.
Daily-needs amenities are a relative strength: grocery and pharmacy access trend above national averages, and restaurant density tracks in the upper national percentiles, while parks and cafes are thinner locally. Median home values in the neighborhood are elevated relative to area incomes (value-to-income ratio in a high national percentile), which tends to sustain reliance on rentals and can support pricing power when managed thoughtfully.
The average construction year in the neighborhood trends newer than many U.S. areas, while this asset was built in 1997. That vintage may position the property for targeted capital improvements and modernization to stay competitive against younger stock without overbuilding scope.
Safety metrics for the neighborhood trend below national benchmarks (national safety percentile is lower), placing the area weaker than many U.S. neighborhoods. Within the Jacksonville metro, the neighborhood sits around the middle of the pack, suggesting conditions that merit standard operational precautions and resident engagement strategies rather than a unique outlier.
Investors typically account for these conditions through lighting, access control, and active property management. Monitoring trend direction at the metro and neighborhood level is advisable when underwriting hold periods and insurance assumptions.
Proximity to corporate employment underpins renter demand, with notable access to financial services, logistics, and distribution employers that support commuting convenience and leasing stability.
- Anixter — distribution (6.6 miles)
- Fidelity National Financial — financial services (9.0 miles) — HQ
- Fidelity National Information Services — financial technology (9.0 miles) — HQ
- CSX — rail transportation corporate offices (9.1 miles) — HQ
This 24-unit, 1997-vintage property in Jacksonville’s inner suburbs benefits from a sizable renter base, metro-competitive neighborhood rating, and access to diverse employment nodes. Neighborhood occupancy around the low-90s supports baseline stability, while elevated ownership costs in the area tend to reinforce reliance on multifamily housing, aiding retention and measured rent growth potential.
According to CRE market data from WDSuite, the surrounding 3-mile radius shows recent population and household expansion with further growth forecast, implying a larger tenant pool over time. Given the asset’s slightly older vintage relative to nearby stock, targeted renovations and system updates can enhance competitive positioning, with underwriting tempered by local safety metrics and selective amenity gaps.
- Stable renter base with neighborhood occupancy near the low-90s supporting consistent leasing
- Elevated ownership costs locally support rental demand depth and potential pricing power
- 1997 vintage offers value-add potential through modernization and selective capex
- 3-mile demographics point to ongoing growth, expanding the prospective tenant pool
- Risks: below-national safety metrics and thinner park/cafe amenities require proactive management