| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 67th | Good |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 996 Citrona Dr, Fernandina Beach, FL, 32034, US |
| Region / Metro | Fernandina Beach |
| Year of Construction | 1991 |
| Units | 42 |
| Transaction Date | 2016-09-15 |
| Transaction Price | $1,384,800 |
| Buyer | HALLMARK POST OAK LLC |
| Seller | OCEAN VIEW APARTMENTS LIMITED PARTNERSHI |
996 Citrona Dr Fernandina Beach Multifamily Investment
Owner-leaning housing and an A-rated neighborhood signal durable renter demand relative to limited supply, according to WDSuite’s CRE market data. Newer vintage for the area positions the asset to compete on quality while targeting renters priced out of ownership.
Fernandina Beach sits within the Jacksonville, FL metro and this neighborhood carries an A rating, ranking 54 out of 368 metro neighborhoods—top quartile locally. Restaurants score in the top quartile nationally, with cafes and groceries also strong, supporting day-to-day livability. Pharmacy access is thinner, which may nudge some residents to nearby retail corridors for services, but overall amenity balance is favorable for multifamily demand.
The neighborhood’s renter-occupied share is modest (18.6%), indicating an owner-heavy area with limited rental stock. For investors, that typically means a defined tenant pool and less direct competition, supporting retention if product is well-positioned. Neighborhood occupancy runs in the high-80s, suggesting leasing is generally steady but not fully tight—an operator focus on positioning and management can help sustain occupancy.
Within a 3-mile radius, population and households have grown in recent years, and WDSuite data projects further population growth and a notable increase in households alongside smaller average household sizes. A rising 65+ share over the next five years implies demand for convenience-oriented living and smaller floorplans, which can support a stable renter base. This aligns with investor considerations surfaced through multifamily property research when evaluating unit mix and amenities.
Elevated home values (above the national median) and a higher value-to-income ratio point to a high-cost ownership market in this neighborhood. That dynamic typically supports renter reliance on multifamily housing and can bolster pricing power, while the neighborhood’s rent-to-income levels suggest some headroom for carefully managed rent growth without overextending affordability. Average school ratings trend around mid-levels for the metro, adequate for broad renter appeal while not a primary price driver.
Neighborhood-level crime benchmarking is not available in the provided WDSuite dataset for this location. Investors commonly evaluate safety by comparing neighborhood trends to Jacksonville metro peers and monitoring changes over time rather than relying on block-level snapshots.
Employment access is anchored by major Jacksonville-area employers within commuting range, supporting workforce renter demand and lease retention for professionally managed multifamily. The list below reflects nearby corporate offices relevant to this neighborhood.
- CSX — rail transportation (26.4 miles) — HQ
- Fidelity National Financial — title insurance (27.0 miles) — HQ
- Fidelity National Information Services — fintech (27.0 miles) — HQ
- Anixter — distribution & electrical supply (36.2 miles)
Built in 1991, this 42-unit asset is newer than much of the surrounding housing stock (which skews older), providing a relative quality edge while leaving room for targeted updates to enhance competitiveness. The neighborhood ranks in the top quartile among Jacksonville neighborhoods and shows strong amenity access, with owner-heavy tenure suggesting limited competing rental supply and potential for steady retention. Based on CRE market data from WDSuite, local home values remain elevated versus national norms, which tends to sustain multifamily demand, while neighborhood occupancy in the high-80s favors disciplined asset management to maintain stability.
Within a 3-mile radius, recent growth in population and households—and a projected increase in smaller households—supports a larger renter base for well-managed communities. Rising incomes further underpin the ability to support market rents, and demographic shifts toward older cohorts may strengthen demand for smaller units and low-maintenance living, aligning with practical, value-add upgrades rather than heavy repositioning.
- 1991 vintage offers a competitive edge versus older neighborhood stock, with selective renovation upside.
- Top-quartile neighborhood standing and strong everyday amenities support leasing and retention.
- Owner-heavy area limits direct multifamily competition, reinforcing pricing power when operations are strong.
- 3-mile demand drivers: population and household growth, higher incomes, and more small households expanding the renter pool.
- Risks: neighborhood occupancy in the high-80s and thinner pharmacy access require focused marketing and service convenience to sustain performance.