| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 51st | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5077 Western Blvd, Jacksonville, NC, 28546, US |
| Region / Metro | Jacksonville |
| Year of Construction | 2009 |
| Units | 24 |
| Transaction Date | 2008-09-26 |
| Transaction Price | $2,500,000 |
| Buyer | BPP ARLINGTON WEST LLC |
| Seller | INDEPENDENCE PLACE ARLINGTON WEST LLC |
5077 Western Blvd Jacksonville Multifamily — 2009, 24 Units
Positioned in an A+ rated inner-suburban neighborhood, this 24-unit 2009 asset benefits from steady renter demand and balanced occupancy, according to WDSuite’s CRE market data. In this commercial real estate analysis, neighborhood fundamentals and amenity access support durable leasing while leaving room for targeted operational upside.
The property sits in a top-ranked Jacksonville, NC neighborhood (ranked 1 out of 55 in the metro), where amenity access is a relative strength. Cafes, restaurants, groceries, pharmacies, parks, and childcare options score above national midpoints, supporting daily convenience and helping properties compete for renewals and new leases.
Neighborhood construction skews relatively new versus the metro, and this asset’s 2009 vintage positions it competitively against older stock. Newer construction can reduce near-term capex relative to older properties, though investors should still plan for systems updates and selective modernization over a standard hold.
Occupancy in the neighborhood trends around the national midpoint, while renter-occupied housing is the majority locally. A higher renter concentration (versus owner-occupied units) generally indicates a deeper tenant base for multifamily, which can support occupancy stability through cycles.
Within a 3-mile radius, households have grown over the last five years even as total population edged slightly lower, pointing to smaller average household sizes and a broader leasing pool. Forecasts indicate further household growth and rising incomes, which, together with projected rent gains, suggest continued renter pool expansion and manageable pricing power for well-run assets.
Home values in the area sit below national highs, creating a more accessible ownership market than coastal gateways. For investors, that means monitoring potential competition from entry-level ownership, but the neighborhood’s majority renter composition and steady lease demand remain supportive of retention and occupancy management.
Safety metrics for the neighborhood sit below national benchmarks, with ranks that place it on the less favorable side of the metro distribution (24th out of 55 Jacksonville neighborhoods, where lower ranks indicate higher incident levels). Even so, WDSuite data shows year-over-year improvement, with double-digit declines in estimated violent and property offense rates. For underwriting, this argues for prudent security line items and tenant-screening practices while recognizing recent directional gains.
5077 Western Blvd offers investors a 2009-vintage, 24-unit asset in a top-ranked Jacksonville neighborhood where amenity access is strong and occupancy sits near national norms. The area’s majority renter-occupied housing supports a deeper tenant base, and household growth within a 3-mile radius points to ongoing renter pool expansion that can bolster leasing and renewals. According to CRE market data from WDSuite, neighborhood-level income and rent trajectories trend upward, reinforcing long-run demand and measured pricing power.
The 2009 construction should compare favorably with older local stock, reducing near-term capital intensity while leaving room for targeted upgrades to drive rents and retention. Investors should balance these strengths against safety metrics that remain below national benchmarks and mixed school ratings, calibrating operating and capex plans accordingly.
- Majority renter-occupied neighborhood supports a deeper tenant base and steadier leasing
- 2009 vintage provides relative competitiveness and lowers near-term capex versus older stock
- Amenity-rich A+ neighborhood (1 of 55 in the metro) aids retention and rentability
- Upward income and rent trends, per WDSuite data, support measured pricing power
- Risks: safety metrics below national benchmarks and mixed school ratings warrant prudent underwriting