| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 58th | Good |
| Amenities | 49th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9047 San Jose Blvd, Jacksonville, FL, 32257, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1972 |
| Units | 110 |
| Transaction Date | 2019-11-22 |
| Transaction Price | $9,325,000 |
| Buyer | LIGHTHOUSE JAX LLC |
| Seller | PCH BAY APARTMENTS LLC |
9047 San Jose Blvd, Jacksonville FL Multifamily Investment
Neighborhood-level occupancy has been resilient with steady renter demand, according to WDSuite’s CRE market data, supporting stable cash flow potential for a 110-unit asset in an inner-suburban Jacksonville location.
Located in Jacksonville’s inner suburbs, the property sits in a neighborhood rated A- where renter demand has trended stable and occupancy performance ranks 89th out of 368 metro neighborhoods — placing it in the top quartile among the metro peer set. That relative positioning suggests support for leasing continuity compared with many submarkets across the region.
The area’s renter-occupied share is elevated, indicating a deep tenant base for multifamily. This high renter concentration can aid absorption and reduce downtime during turns, though operators should continue to differentiate on finishes and service to compete across comparable assets nearby.
Within a 3-mile radius, demographics point to a growing renter pool: population and household counts have increased in recent years, with forecasts calling for further gains and slightly smaller average household sizes. Together, these trends typically translate into more households seeking rental options, supporting occupancy stability and leasing velocity for well-managed properties.
Daily needs are reasonably served by neighborhood conveniences, with grocery and pharmacy access ranking above many Jacksonville peers, while parks and cafés are sparser. School ratings trail metro and national norms, which can be a consideration for family renters; positioning as value-focused or upgraded product can help with retention in this context. The asset’s 1972 vintage is older than the neighborhood’s average construction year (mid-1990s), pointing to ongoing capital planning and potential value-add upside through targeted renovations and system updates.
Safety metrics for the neighborhood are below metro averages, with crime ranking 215th out of 368 Jacksonville neighborhoods. Compared with neighborhoods nationwide, safety percentiles sit on the lower end, indicating that security measures and resident communication can be important components of asset management and underwriting.
Recent year-over-year estimates indicate volatility in both property and violent offense rates at the neighborhood level. For investors, prudent assumptions around operating expenses, insurance, and on-site security — paired with visibility into submarket policing and community programs — can help manage risk without relying on block-level conclusions.
Nearby corporate offices create a diversified white-collar employment base that supports renter demand through commute convenience. The employers below reflect finance, logistics, and corporate services nodes within an 8-mile radius.
- Anixter — corporate offices (7.7 miles)
- Fidelity National Financial — corporate offices (8.0 miles) — HQ
- Fidelity National Information Services — corporate offices (8.0 miles) — HQ
- CSX — corporate offices (8.1 miles) — HQ
This 110-unit property’s submarket shows healthy fundamentals: neighborhood occupancy ranks in the top quartile among 368 Jacksonville neighborhoods, and a high share of renter-occupied housing supports a broad tenant base and stable leasing. Within a 3-mile radius, population and household growth — alongside a modest decline in average household size — point to a larger pool of prospective renters over the next several years. Ownership costs in the area remain moderate relative to incomes, which helps sustain rental demand and supports retention management.
The 1972 construction is older than the neighborhood’s mid-1990s average, suggesting both ongoing capital planning needs and potential value-add upside through renovations, common-area upgrades, and system modernization. According to CRE market data from WDSuite, rents have grown from a lower base while rent-to-income levels imply manageable affordability pressure, giving operators room to focus on renewal strategies and selective rent lifts, balanced against competitive positioning and resident experience.
- Occupancy ranks in the metro’s top quartile, indicating support for leasing stability.
- High neighborhood renter-occupied share deepens the tenant base and aids absorption.
- 3-mile population and household growth expand the future renter pool and support renewal strategies.
- 1972 vintage offers value-add potential through targeted unit and systems upgrades.
- Risks: below-average safety metrics and weaker school ratings may require enhanced security, service, and amenity programming.