Los Angeles, CA · Member since 2017 · 31 posts · 24 votes
Hi Guys! I am looking into investing in Jacksonville Florida. Do you know the best zip codes to invest for small multifamily? Looking forward for your response.
Rental Property Investor · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
7y
@John Michael Rico As @Josh Oaten said, I'm active in the JAX market. It would be helpful if you provided more details: budget, what you're looking for, how long you plan to hold.
E.g. I don't invest in Class D areas but know a ton of people who've made serious money doing that. Point is everyone is different and what's good for one investor isn't necessarily good for another investor
Rental Property Investor · Jacksonville, FL · Member since 2008 · 784 posts · 528 votes
8y
Based on the sales of recent apartment complexes, I'd comfortably say that you are looking at paying (closed deals) $50,000 per door in a good strong appreciating neighborhood, less in others not appreciating as quickly. In Riverside/Avondale there are a number of properties on the market for closer to 100k per door.
Real Estate Agent · Spokane, WA · Member since 2013 · 123 posts · 66 votes
7y
I know this is a late reply but here's part of the information that I've put together for Jacksonville. Green are the nicer areas, orange are the average areas that have good cashflow, red are areas that you should be avoiding.
Rental Property Investor · Orlando, FL · Member since 2015 · 353 posts · 269 votes
7y
@Aline Zamora we have some small multis in 32210 on the west side. It is west of i295 and south of Normandy Blvd. I would say it’s a C+ neighborhood, but we’ve had success so far. They bring in ~1.8% rent/purchase price ratio. Seems to have less crime than the “red” areas east of i295 and north of i10. I’ve spent a few nights working on the units until midnight and never felt too bad about it.
@Omar Khan is an active investor in Jacksonville Florida. He deals in large multifamily (100+ units) but may be able to give you some insight into areas he is finding attractive. Maybe reach out to him, but it will all depend on your investment criteria and what you are trying to achieve, so have that prepared!
Rental Property Investor · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
7y
@John Michael Rico As @Josh Oaten said, I'm active in the JAX market. It would be helpful if you provided more details: budget, what you're looking for, how long you plan to hold.
E.g. I don't invest in Class D areas but know a ton of people who've made serious money doing that. Point is everyone is different and what's good for one investor isn't necessarily good for another investor
Investor · Jacksonville, FL · Member since 2015 · 504 posts · 217 votes
7y
I have lived here since 1975 and have 29 years USPS.
I tell out of area people to stick to outer Duval Zipcodes, avoiding 32206. 08, 09, 19 and 54 will help you avoid trying to decifer crime areas. Though I know people who make good money on cheap rentals but whats the exit strategy?. Dont get me wrong there are some better spots in those 5 zips mentioned. Duval has 30 Zip codes though
What about 32205, 10, 32220 , 32221?
32221 is growing like crazy, new highway, new roads, much new industry has moved in and more to come. 1139 new apartment units have been approved to build on Normandy blvd.at Bicentennial ln by SADDLEBROOK LANDINGS, who also converted the Navy Town homes to Civilian.
Amazon borders 32221 on the 32210 side. 32210 is largely old and saturated, New growth , construction, apartments, housing is coming to 32221 , No Doubt! They have GE OIL & GAS building gas appliances BRIDGE STONE TIRES MANUFACTURING,
A new Solar panel Manufacturer,, many new businesses at Cecil Commerce. FSCJ. CECIL CAMPUS COLLEGE, ,NEW WORLD AVE, POW MIA PARKWAY,, EQUESTRIAN CENTER, is also an entertainment/ Concert venue.. I have a property on Normandy with 528 ft frontage. I cant wait til all this new construction comes in. I have property in 32244, 32210 (prior)
2 in 32221, then Clay County (2) 32068, 32073.
I mostly do land deals and tax deeds aside from turning primaries to rentals.
Investor · Rapid City, SD · Member since 2018 · 47 posts · 5 votes
7y
@Carolyn Morales this is so helpful!!! Thank you so much!!! I heard from the realtor that I'm working with that 32206 (Springfield) is up and coming and a good place to get something. What do you think?
Investor · Parrish, FL · Member since 2014 · 120 posts · 115 votes
7y
Hi everyone! This is great information on Jacksonville and I just got back from there yesterday on a scouting trip for buy and hold, long term rentals. I'm looking to buy new builds and would like your opinion on some addresses if you'd be so kind. I'm mainly just wondering about neighborhoods, and if it's a B class, C class, etc. Any help would be appreciated.
1) 8400 Oden Ave. Jacksonville, Fl 32216
2) 8778 Kaye Ln. Jacksonville, Fl 32244
These two I found on DR Horton's website for new builds:
1) 2446 Sotterley Ln. Jacksonville, Fl 32220
2) 7148 Cotton Bend Ct. Jacksonville, Fl 32220
Again, thanks for the help and any information would be helpful. - Greg
@Carolyn Morales this is so helpful!!! Thank you so much!!! I heard from the realtor that I'm working with that 32206 (Springfield) is up and coming and a good place to get something. What do you think?
I think it has been “up and coming” since it was founded.
If I had a $1 for how many times I have heard realtors say this to folks out of town I would be sitting pretty.
Investor · Jacksonville, FL · Member since 2015 · 504 posts · 217 votes
7y
@GregJJunge,
All the zips you mentioned are among the more preferrable zips, excluding 06, 08, 09,19 and 54. HOWEVER, there are local who do well enpugh self managing in 06, 08, 09, 19 akd 54.
This is not absolute all inclusive, as 32206 Springfield below 400 block and lower than 11th st are Gentrifying.. I am still not sure that is a good word or not, "Gentrifying"
If one earned money from which to "fix-flip"(unless you have a Gen Contractors lic, have side time... whatever), my opinion, [CAUTION] South Florida is nonsense clown act, (synthetic growth), Irma money is overbuilding / lifting a false R/E data market, and thanks to local tax multipliers are up 1-2 points; only adds to "comfort levels" if looking at SOUTH FL, Monroe/Miami-Dade / Broward , etc, the East coast of the State has no industry to fund usual and customary lease terms. "rental agreement's" are a worthless <30 day waste of paper, and at that over abundant liability suites are fuel on the fire.
Seeing it is JAX, FL I wouldn't know... but same thought may apply.