| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 48th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 52 Sunrise Blvd, Saint Augustine, FL, 32084, US |
| Region / Metro | Saint Augustine |
| Year of Construction | 1981 |
| Units | 66 |
| Transaction Date | 2015-11-20 |
| Transaction Price | $4,166,500 |
| Buyer | SOUTHERN VILLAS LLC |
| Seller | ST JOHNS HOUSING PARTNERSHIP INC |
52 Sunrise Blvd Saint Augustine Multifamily Opportunity
Neighborhood data points to steady renter demand supported by a high-cost ownership market, according to WDSuite’s CRE market data. This sets up a pragmatic, operations-led hold focused on occupancy stability rather than outsized rent growth.
The property is in a Suburban, B+ rated neighborhood of the Jacksonville metro, ranked 109 out of 368 neighborhoods — competitive among Jacksonville neighborhoods. Neighborhood occupancy trends are steady (88.7% with a small uptick over five years), a useful backdrop for underwriting stabilized operations at the submarket level rather than relying on aggressive lease-ups.
Amenities skew supportive of daily living: restaurants, groceries, and pharmacies sit around the upper half of national distributions, while parks are limited. For investors, this mix suggests convenience-driven renter appeal with fewer recreational anchors; marketing and resident programming may help offset the lighter park access.
Construction year for the asset is 1981 versus a neighborhood average near the early 1990s. Older vintage points to potential value-add through systems modernization and interior updates, improving competitive positioning against newer stock and supporting rent premiums tied to renovation scope.
Tenure patterns indicate a moderate renter base: within the neighborhood, approximately one-quarter of housing units are renter-occupied, and within a 3-mile radius renters comprise roughly three-tenths of occupied units. Together with 3-mile population and household growth over the last five years and a forecast for additional household gains alongside smaller household sizes, this supports a gradually expanding renter pool and occupancy stability for well-managed properties.
Ownership costs are elevated locally relative to incomes, with neighborhood home values above national medians and a value-to-income ratio indicating a high-cost ownership market. In contrast, the neighborhood’s rent-to-income ratio is measured at levels that can support retention and steady renewal velocity, a constructive setup for multifamily pricing power without overextending affordability.
Safety indicators are mixed. At the metro scale, the neighborhood’s crime rank sits in the better third of Jacksonville’s 368 neighborhoods, which is competitive locally. Nationally, overall crime measures trend below the midpoint, with property crime comparatively elevated while violent crime reads closer to the national middle. Recent trends show a modest year-over-year improvement in property crime rates and a slight increase in violent incidents. Investors should underwrite customary security measures and lighting, and consider coordination with local community resources, rather than assume block-level outcomes.
Regional employment nodes within commuting distance include distribution and corporate headquarters that broaden the renter pipeline and support retention through diverse industry exposure: Anixter, CSX, Fidelity National Financial, and Fidelity National Information Services.
- Anixter — distribution & corporate offices (21.5 miles)
- CSX — railroad transportation corporate offices (37.0 miles) — HQ
- Fidelity National Financial — title insurance corporate offices (37.0 miles) — HQ
- Fidelity National Information Services — fintech corporate offices (37.0 miles) — HQ
This 66-unit asset in Saint Augustine balances stable neighborhood fundamentals with identifiable value-add levers. Based on CRE market data from WDSuite, neighborhood occupancy has held in a steady band with a five-year improvement, while 3-mile demographics point to ongoing household growth and smaller household sizes — dynamics that typically expand the renter pool and support consistent absorption.
Built in 1981, the property is older than nearby stock on average, implying scope for systems upgrades and interior renovations to enhance competitive standing. Local ownership costs are elevated relative to incomes, which sustains reliance on rental housing; at the same time, measured rent-to-income levels support retention and disciplined pricing. The combination suggests a focus on operational execution, selective capital improvements, and renewal management over speculative rent growth.
- Steady neighborhood occupancy with five-year improvement supports stabilized operations
- 3-mile household growth and smaller household sizes expand the tenant base
- 1981 vintage offers value-add potential via modernization and interiors
- High-cost ownership market underpins demand for rental housing and renewal depth
- Risks: limited park access and mixed crime readings warrant prudent security and amenity programming