The Ansley_Property for Sale
The Ansley_Property for Sale
11011 Harts Road, Jacksonville, FL, 32218, US

The Ansley

Asset Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to present The Ansley, a 1988-built, 225-unit community located in the rapidly growing North Jacksonville/Airport submarket. The Property has undergone recent capital improvements and offers the potential for interior upgrades. With a strong leasing trend, strategic location, and favorable financing, The Ansley is a prime opportunity to own a high-quality asset in a top-performing market.

The current ownership has made substantial capital investments at the Property including roof replacements, full repaint, and parking lot repairs totaling approximately $900,000.

A comprehensive interior renovation plan offers the potential for premium rents. All 225 units at The Ansley are candidates for upgrades, which would include luxury vinyl plank flooring, upgraded appliances, cabinet doors, backsplash, solid-surface counters, and new fixtures throughout, with a projected premium of $150-175 per unit based on nearby comparables.

The Property's recent lease trend shows rent growth without renovations, indicating organic mark-to-market growth. The 90-day leasing trend average is 7% above the current in-place average.

Bolstering the Property’s future performance potential is its desirable location on the Northside near the intersection of I-95 and the I-295 Beltway, allowing residents convenient access to one of Jacksonville’s main employment, medical and retail nodes. In particular, the Airport submarket (4 miles north of The Ansley) is home to the over 1 million square feet River City Marketplace, UF Health and the new VA Hospital, Jacksonville International Airport and Jacksonville International Tradeport.

The Ansley has an in-place financing option with a fully assumable, 5-year Fannie Mae loan at a 5.48% interest rate. The loan is interest-only through July 2025, allowing investors to focus on increasing cash flow and yield.

Overall, The Ansley offers investors a prime opportunity to acquire a high-quality asset with future upside potential.



Number of units
Year built
Building area net
17,158 m²
Investment strategy
Value Add


Investment Highlights

Location Dominance

  • The Ansley is located in the exploding Northside submarket with incredible visibility along Interstate 95.
  • The Property is located less than 5 miles from the market-dominant Airport submarket of Jacksonville. The Airport submarket boasts millions of square feet of jobs, multiple medical providers, Jacksonville International Airport as well as the regionally-dominant River City Marketplace lifestyle center.
  • River City Marketplace
  • Jacksonville International Airport
  • Medical Footprint
  • Industrial Explosion


  • All units at the Property are candidates for a systematic value enhancement program. Previous upgrades have only been partial in nature with 71 units receiving new cabinet doors only, 13 receiving cabinet doors and backsplash and another 11 receiving new cabinet boxes and counters.
  • The units are primed for the buyer to implement an all-encompassing upgrade plan that includes luxury vinyl plank flooring, new cabinet doors, solid-surface counters, upgraded appliances as well as new fixtures throughout.
  • These renovations should easily command a $150-175/month premium over in-place rents.


  • Current Market Rent at The Ansley averages $1,358 while average In-Place rents are $1,203. However, the 30/60/90-day average leasing trend is $1,314, $1,285 and $1,289 respectively!
  • These rent increases are being achieved with no renovations and are purely indicative of mark-to-market organic rent growth. The 90-day leasing trend average is 7% above the current in-place average.


  • Ownership has spent considerable dollars addressing deferred maintenance at the Property over the past three years. For example, all roofs at The Ansley were replaced in 2021, the entire Property was repainted in 2022 and the parking lot was repaired, resealed and restriped.
  • In total, the current owners have spent approximately $900,000 on exterior repairs and upgrades.
The Ansley 4_Property for Sale
The Ansley 4_Property for Sale

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Last updated
31 May 2024