| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 55th | Good |
| Amenities | 37th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 215 Valencia Dr, Jacksonville, NC, 28546, US |
| Region / Metro | Jacksonville |
| Year of Construction | 1987 |
| Units | 60 |
| Transaction Date | 2021-08-18 |
| Transaction Price | $12,000,000 |
| Buyer | BLUFF RIDGE OWNER LLC |
| Seller | TRIANGLE REAL ESTATE OF GASTONIA INC |
215 Valencia Dr Jacksonville Multifamily Value-Add Opportunity
A-rated inner-suburb location with stable neighborhood occupancy supports steady renter demand, according to WDSuite s CRE market data. The asset s 1987 vintage suggests potential for targeted renovations to enhance competitiveness.
Located in Jacksonville s Inner Suburb, the neighborhood carries an A rating and ranks 6 out of 55 metro neighborhoods competitive among Jacksonville neighborhoods and within the top quartile nationally on several livability measures. Neighborhood occupancy is strong and has trended upward over the last five years, signaling durable leasing conditions for multifamily.
Local amenities skew toward parks and everyday services rather than cafés or boutique retail. Park access ranks near the top of the metro (2 of 55) and restaurants are comparatively dense for the area, while nearby cafés, groceries, and pharmacies are limited within the immediate neighborhood. For investors, this mix points to car-oriented convenience and value positioning rather than premium retail adjacency.
The property s 1987 construction is older than the neighborhood s average vintage of 2002. That age gap creates clear value-add and capital planning opportunities from interiors to systems to sharpen competitiveness against newer stock while managing ongoing maintenance.
Within a 3-mile radius, demographics show a large working-age base with households trending smaller over time. The renter-occupied share is a little over half in the 3-mile area, indicating a deep tenant pool that supports occupancy stability. Median household incomes have risen and are projected to continue growing, while rents remain mid-market; together this supports pricing power without overextending affordability. Elevated home values for the area and a moderate value-to-income ratio suggest sustained reliance on rental housing, which can aid retention and lease management.
Safety metrics for the neighborhood are mixed relative to the metro and nation. The area sits below the national median for safety (national percentile in the low 40s) and ranks 19 out of 55 in the Jacksonville metro, indicating crime levels that are higher than many peers locally. For underwriting, this argues for pragmatic assumptions on security features and tenant screening.
Trend data is improving: estimated property offenses declined markedly year over year and violent offense rates edged lower, according to CRE market data from WDSuite. Investors may view the directional improvement as constructive, while remaining mindful of neighborhood context when calibrating marketing and operating strategies.
This 60-unit asset combines a competitive A-rated inner-suburb location with strong neighborhood occupancy and a renter-heavy 3-mile catchment, supporting demand depth and lease-up resilience. According to CRE market data from WDSuite, neighborhood occupancy trends have been solid, while area incomes are rising and rents remain mid-market a setup that favors stable tenancy with measured rent growth rather than volatility.
The 1987 vintage is materially older than nearby stock, creating clear value-add potential through targeted renovations and system upgrades. Amenity coverage favors parks and restaurants over daily retail, signaling a car-oriented profile that suits workforce renters; underwriting should reflect modest convenience trade-offs and operating focus on retention. Safety metrics are improving but still below national medians, so prudent expense allowances for security and thoughtful tenant mix remain advisable.
- Strong neighborhood occupancy and A-rated Inner Suburb location support leasing stability
- 1987 vintage relative to 2002 neighborhood average offers value-add and CapEx upside
- Rising local incomes with mid-market rents aid retention and measured pricing power
- Park and restaurant access favor workforce appeal despite limited boutique retail nearby
- Risk: safety metrics below national medians and an older asset profile require prudent operations