| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 31st | Poor |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5641 California Ave, Jacksonville, FL, 32244, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1986 |
| Units | 88 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5641 California Ave Jacksonville Multifamily Investment
Positioned in an inner-suburban pocket of Jacksonville, the asset benefits from a growing 3-mile renter pool and stable neighborhood occupancy, according to WDSuite’s CRE market data. The 1986 vintage suggests value-add potential to improve competitive positioning and support steady cash flow.
This inner-suburb location mixes everyday convenience with pragmatic investment fundamentals. Restaurant density is competitive among Jacksonville neighborhoods (ranked favorably within a field of 368), and grocery access tracks above national norms, while parks, pharmacies, and cafes are limited nearby. For investors, this points to demand anchored by essentials rather than lifestyle draws, with leasing supported by proximity to daily needs more than destination amenities.
Neighborhood occupancy is around the metro median among 368 neighborhoods, with a modest upward trend over five years. Median contract rent in the neighborhood sits near the middle of national ranges, which can ease lease-up and retention management compared with higher-priced submarkets. Within a 3-mile radius, households and population have grown and are projected to continue expanding, supporting a larger tenant base and occupancy stability.
Tenure patterns indicate a meaningful renter base: the immediate neighborhood reports a lower renter-occupied share than the broader 3-mile area (around 40% renter-occupied within the radius), implying demand that extends beyond the immediate blocks. For underwriting, this suggests depth across adjacent neighborhoods that can bolster leasing velocity for an 88-unit asset.
The property s 1986 construction is older than the neighborhood s average vintage, pointing to potential capital planning for systems and interiors. That profile often supports value-add strategies to capture rent spreads versus newer stock while maintaining price sensitivity attractive to workforce tenants. Home values in the neighborhood reflect a high-cost ownership market relative to local incomes (value-to-income metrics in upper national ranges), which tends to sustain renter reliance on multifamily housing and can support pricing power when renovations increase perceived quality.
Safety indicators for the neighborhood trend below both metro and national averages, with ranks in the lower tier among 368 Jacksonville neighborhoods and national percentiles that signal elevated incident rates relative to many U.S. areas. Investors often address this through security features, resident screening, and insurance assumptions; monitoring recent trend lines and surrounding submarket performance is advisable when underwriting.
Nearby corporate headquarters and offices provide a sizable white-collar employment base that supports renter demand and commute convenience, including Fidelity National Financial, Fidelity National Information Services, CSX, and Anixter.
- Fidelity National Financial financial services (8.3 miles) HQ
- Fidelity National Information Services fintech & payments (8.3 miles) HQ
- CSX transportation & logistics HQ offices (9.0 miles) HQ
- Anixter distribution & electrical supplies (17.2 miles)
5641 California Ave combines workforce-oriented demand drivers with value-add potential. Based on CRE market data from WDSuite, neighborhood occupancy sits near the metro middle, while the 3-mile area shows population and household growth that points to a larger tenant base over time. The 1986 vintage suggests scope for targeted renovations to improve competitiveness against newer stock without overshooting local affordability.
Ownership costs in the neighborhood remain elevated relative to local incomes, which can reinforce rental demand and lease retention for well-managed communities. Proximity to multiple corporate headquarters within roughly 8 9 miles supports weekday traffic and resident stability, though investors should underwrite for below-average safety metrics and selective amenity gaps.
- Occupancy near metro median with upward 5-year trend supports leasing stability
- 3-mile population and household growth expand the renter pool and demand depth
- 1986 vintage offers value-add/CapEx levers to drive rent premiums within attainable ranges
- High ownership costs relative to incomes can sustain multifamily reliance and pricing power
- Risks: safety metrics below metro/national averages and limited nearby lifestyle amenities