| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 26th | Poor |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7071 103rd St, Jacksonville, FL, 32210, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1986 |
| Units | 34 |
| Transaction Date | 2022-07-21 |
| Transaction Price | $6,850,000 |
| Buyer | VIVO LIVING JACKSONVILLE LLC |
| Seller | SUN HOSPITALITY INN LLC |
7071 103rd St Jacksonville Multifamily Investment
Positioned in an inner-suburban pocket of Jacksonville with steady renter demand and mid-pack occupancy at the neighborhood level, this 34-unit asset offers potential value-add upside on a 1986 vintage. Insights are based on WDSuite’s CRE market data, highlighting a balanced demand profile with room to improve operations.
Located in Jacksonville’s Inner Suburb fabric, the property sits in a neighborhood rated C+ where occupancy runs near the metro median (about 90%), suggesting generally stable leasing with typical turnover for the area, according to CRE market data from WDSuite. Renter-occupied housing accounts for roughly 36% of neighborhood units, indicating a moderate renter base that supports multifamily absorption without relying on a narrow tenant segment.
Retail convenience is a relative strength: grocery access is competitive among Jacksonville neighborhoods (ranked 27 out of 368), with cafes also comparatively plentiful locally. Restaurants are present at typical levels, while public parks and pharmacies are limited within the immediate neighborhood. For investors, this mix points to everyday convenience that can aid retention, even if outdoor recreation and on-foot healthcare access may require short drives.
Within a 3-mile radius, demographic trends signal a larger tenant base over time: population grew over the last five years and households expanded at a faster clip, with further household growth projected alongside smaller average household sizes. This combination generally supports renter pool expansion and occupancy stability, particularly for well-maintained units positioned for workforce demand.
On the housing cost side, neighborhood home values sit below many coastal metros, which can introduce some competition from entry-level ownership. However, rent-to-income levels appear manageable locally, which can aid lease retention; investors should calibrate pricing strategy to sustain absorption while protecting renewal rates.
Vintage context: the average neighborhood construction year is 1988, and this asset’s 1986 build suggests it may benefit from targeted renovations or system upgrades to stay competitive versus slightly newer stock, creating potential value-add pathways.
Safety indicators for the neighborhood track below both metro and national benchmarks (crime rank 249 out of 368 in Jacksonville; low national safety percentiles), signaling elevated incident levels relative to many U.S. neighborhoods. Trends over the past year also reflect increases in estimated offense rates locally.
For underwriting and operations, investors typically plan for enhanced property management practices, lighting, and access controls in similar submarkets, and may balance marketing toward proximity-to-employers and unit quality to support leasing and retention.
Proximity to major employers in finance, fintech, and transportation underpins local renter demand and commute convenience for workforce tenants, including Fidelity National Financial, Fidelity National Information Services, CSX, and Anixter.
- Fidelity National Financial — title insurance (7.1 miles) — HQ
- Fidelity National Information Services — financial technology (7.1 miles) — HQ
- CSX — rail transportation (7.8 miles) — HQ
- Anixter — electrical and communications distribution (16.2 miles)
7071 103rd St offers investors a practical value-add angle in an Inner Suburb location with a moderate renter base and neighborhood occupancy near the metro median. The 1986 vintage is slightly older than the local average, which can translate into impactful renovations to interiors and building systems that enhance competitiveness and support rent positioning. Nearby anchors in finance, fintech, and transportation deepen the employment base and help sustain leasing.
Within a 3-mile radius, recent population gains, faster household growth, and projections for additional households alongside smaller household sizes point to a broader tenant pool over time. Combined with manageable rent-to-income dynamics and grocery-forward amenity access, the submarket profile supports retention while allowing for disciplined upgrades, according to CRE market data from WDSuite.
- Inner Suburb location with neighborhood occupancy near metro median supports leasing stability
- 1986 vintage suggests targeted capex and renovation upside versus slightly newer local stock
- Growing 3-mile household base and employer proximity strengthen long-term demand
- Everyday retail convenience (notably groceries) aids tenant retention
- Risks: below-average safety metrics and accessible ownership options may temper pricing power; plan for security and prudent rent strategy