| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 50th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6500 Lake Gray Blvd, Jacksonville, FL, 32244, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2005 |
| Units | 24 |
| Transaction Date | 2019-08-08 |
| Transaction Price | $34,616,900 |
| Buyer | LANDINGS OWNER LLC |
| Seller | LANDINGS AT LAKE GRAY LP |
6500 Lake Gray Blvd Jacksonville Multifamily Investment
Neighborhood renter-occupied share is high, supporting a deeper tenant base and potential occupancy stability for this 24-unit asset, according to WDSuite’s CRE market data.
Positioned in Jacksonville’s inner suburbs, the property sits in a neighborhood with a B- rating and an occupancy environment that is competitive among 368 Jacksonville neighborhoods. Neighborhood occupancy is strong relative to national norms, which supports leasing durability for multifamily operators.
2005 construction is newer than the neighborhood’s average 1980 vintage, offering relative competitiveness versus older stock; investors should still plan for typical mid-life systems updates and potential light renovations to align with current renter expectations.
Amenity access is mixed: pharmacy access trends above national medians while grocery and restaurants track around mid-range, and cafes and parks are limited. For workforce renters, this mix can support day-to-day convenience, though limited lifestyle amenities may modestly affect leasing velocity at higher price points.
Within a 3-mile radius, recent population growth and a larger household base point to a broadening renter pool, with forecasts indicating continued household increases by 2028. Combined with a neighborhood renter-occupied share that is well above the metro median, the area provides depth for demand and supports occupancy stability through cycles.
Home values in the area are moderate by national standards, and the rent-to-income ratio for the neighborhood indicates manageable affordability pressure. This context can aid retention and steady absorption while still allowing for disciplined rent management.
Safety metrics trend below both metro and national averages for this neighborhood. The area ranks 284 out of 368 Jacksonville neighborhoods on crime, and national comparisons place the neighborhood in a lower safety percentile. Recent year estimates also indicate increases in both property and violent offenses. Operators typically address this profile with active on-site management, lighting and access controls, and close coordination with local resources.
Nearby corporate anchors provide a diversified employment base and commute convenience for renters, including Fidelity National Financial, Fidelity National Information Services, CSX, and Anixter. This concentration of employers can support leasing demand and retention for workforce-oriented units.
- Fidelity National Financial — corporate offices (9.18 miles) — HQ
- Fidelity National Information Services — corporate offices (9.18 miles) — HQ
- CSX — corporate offices (9.84 miles) — HQ
- Anixter — corporate offices (14.14 miles)
This 24-unit, 2005-vintage asset benefits from a renter-heavy neighborhood and occupancy levels that are competitive among 368 Jacksonville neighborhoods. Based on CRE market data from WDSuite, the surrounding area shows solid renter demand fundamentals relative to national medians, and the 3-mile radius indicates recent population growth with further household expansion projected—drivers that can support tenant base depth and lease-up stability.
The 2005 vintage positions the property ahead of much of the local housing stock, offering competitive appeal versus older assets while leaving room for targeted modernization to enhance rents. Moderate ownership costs and a neighborhood rent-to-income profile suggest manageable affordability pressure—supportive for retention—while proximity to several corporate headquarters adds employment diversity. Key risks include below-average safety metrics and thinner lifestyle amenities, which may require active management and thoughtful positioning.
- Renter-heavy neighborhood supports demand depth and occupancy stability.
- 2005 construction offers competitive positioning with potential value-add via modernization.
- 3-mile demographics show recent growth and projected household gains, enlarging the tenant base.
- Access to major employers (FNF, FIS, CSX) supports leasing and retention.
- Risks: below-average safety profile and limited lifestyle amenities may require enhanced operations and pricing discipline.