5885 Edenfield Road, Jacksonville, FL, 32277, US

Edenfield Shores

資產詳情

Jones Lang LaSalle Inc. (JLL) is proud to present Edenfield Shores (The “Property’), a 332-unit value-add investment opportunity situated on the banks of the St. Johns River in Jacksonville, FL. Built in 1975, the Property’s convenient location allows it to capitalize on the area’s growing population and thriving local industries. As Florida continues to experience a surge in population growth and a tightening of new housing supply, Edenfield Shores offers a great opportunity against a backdrop of increasing demand for attainable rental housing.

The two- and three-story, wood frame community consists of one-, two- and three-bedroom flat and townhome floor plans and has benefited from a substantial influx of capital into interior and exterior renovations. Since their acquisition in 2021, current ownership has invested approximately $4.8 million on exterior CapEx items and $2.2 million on the renovation of unit interiors. As a result, the Property is currently achieving rent premiums ranging from $75-$200 per month on the renovated units. This proven value-add upside offers incoming investors an incredible opportunity to continue implementing the established renovation program to capitalize on the current momentum and upside potential.

Edenfield Shores is a rare waterfront Property in Jacksonville's Charter Point neighborhood. Major employers are within a 20-minute drive, including Jacksonville University, JAXPORT and Downtown Jacksonville. In addition to the employment drivers, Edenfield Shores offers residents convenient access to some of the area’s best shopping, dining and entertainment options. Regionally-dominant power centers, St. Johns Town Center and Southside Commons, are just a 15-minute drive away.

The city of Jacksonville, along with Florida as a whole, has shown incredibly strong population and job growth since 2020, with over 50,000 new residents moving to the metro annually from 2020 – 2024 and over 50,000 new jobs in the same period. All studies indicate that Florida will continue to outperform the national average in both population and job growth into 2030.

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特性

單位數量

332

落成年份

1975

建築物面積 (淨面積)

343,157 平方呎

投資策略

增值

媒體

投資亮點

UNIQUE WATERFRONT LOCATION

Edenfield Shores is one of only a handful of waterfront communities in Jacksonville, with a picturesque riverside clubhouse and pool deck. Most waterfront complexes are top-of-market new construction properties, with Edenfield Shores offering residents and investors a substantial discount for a waterfront asset.

ESTABLISHED RENOVATION PROGRAM

Current ownership has renovated the majority of the units at Edenfield Shores and achieved rents premiums of $75 - $200 above the unrenovated units depending on floorplan. New ownership can use this established roadmap of success and complete the value-add, fully realizing the upside and repositioning of the Property.

PROXIMITY TO EMPLOYMENT HUBS

Edenfield Shores is within a 20-minute drive of major employment centers, including Downtown Jacksonville, the Deerwood Office Submarket, two hospitals, and JAXPORT (Florida’s largest container port) with its surrounding industrial footprint.

LIMITED NEARBY FUTURE SUPPLY

While North Florida saw record deliveries in 2023 and 2024, new construction starts have been extremely limited in the last 18 months. There are currently no properties under construction in the greater East Jacksonville submarket. Edenfield Shores stands to benefit from high rent growth, with RealPage predicting average annual submarket rent growth over 4.25% for the next 4 years.

NEARBY HIGH-END HOMES

Non-waterfront homes in Charter Point have an average list price between $370K - $560K, well above Jacksonville’s median home sale price of $295K (Redfin). Waterfront homes in the neighborhood command a significant premium, with four waterfront homes in Charter Point selling between $925K and $1.28M in the last 12 months.