Arbor Place

About Arbor Place

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 206-unit Arbor Place value-add multifamily community located in Jacksonville, Florida. Located in Jacksonville’s Southside submarket, the asset is conveniently positioned eight minutes or less from three major healthcare facilities (HCA Memorial, Brooks Rehab, and Ascension St. Vincent’s Southside), totaling over 1,150 beds. Additionally, the Southpoint and Deerwood business corridors sit approximately 10 minutes south of Arbor Place, boasting over ~8 million square feet of office space and supporting ~40,000 jobs in the immediate area.

The property is well built with concrete block and brick construction, featuring concrete subfloors, and boasts an attractive unit mix with 40% two-bedroom units, including townhouse floor plans, most of which have been upgraded to a fully renovated finish level. Renovated units include stainless steel appliances, resurfaced countertops, faux-wood flooring, new cabinet doors with hardware (painted boxes), updated plumbing and light fixtures, and ceiling fans. With over $3.3 million in capital expenditures invested since acquisition, the property is primed for a new owner to further renovate the remaining classic and partially renovated units while implementing additional revenue drivers such as bulk internet and technology packages.

With average household income exceeding $94,000 within a three-mile radius, the current in-place rent-to-income ratio of approximately 14.5% presents a compelling opportunity for an owner to drive rent growth through continued community and operational enhancements.