Golden Shore of Jacksonville

7703 Hare Ave Jacksonville FL

The Offering

Golden Shore of Jacksonville- exterior view- lake and building

Nathan Holdings is pleased to present Golden Shores of Jacksonville, a 355-unit, value-add offering in a high-demand Jacksonville location. Garden-type multi-family housing, consists of one-story and two-story buildings, for blue-collar residents. The property is close to major demand drivers such as the downtown CBD, the Butler Corridor/Deerwood Office Park, Jacksonville University, and the University of North Florida. Upgraded and newer properties nearby are getting $150 – $400 monthly rent premiums. The investor has the tremendous opportunity to achieve strong rent gains by ownership through the modest interior and community enhancements. The property is closely situated to another property we own, making property management cost-effective and efficient.

Jacksonville’s city is averaging 20,000 new jobs annually and net in-migration of approximately 30,000 residents per year. Fueled by its strong in-migration, along with state and local government support behind giving residents the ability to GET BACK TO WORK, Jacksonville leads the state in rent growth in 2020. Jacksonville represents a robust local economy in a state that is OPEN FOR BUSINESS. Assets like Golden Shores of Jacksonville are well-positioned to benefit from that growth.

Investment Highlights

Exterior of Golden Shore of Jacksonville

Incredible value-add upside through strategic renovations
Rental rates well below competitive set – offering significant room to run
Proven ability to push rents through modest improvement programs
High demand/high occupancy pointing toward climbing rental rate environment
Excellent Unit Mix – Majority large desirable studio units
Limited Area Supply – Immediate Area Best Renting Option
Proximate to top retailers like Target, Home Depot, Lowes, Starbucks, Walmart Supercenter and AMC Cinemas
Convenient access to job hubs in Downtown Jacksonville, Butler Corridor, Jaxport, and Mayport Naval Station
One of Florida’s Strongest Markets

355

Units

icon used to state Sqr fit of the property

195,800

Sqr Ft

1960

Year Built

2020

Year Renovated

Property Details

Community Amenities

Lake Front
Playground
Barbecue and picnic area
On-site laundry facility

Unit Amenities

Newley Renovated Units
Air conditioning
Dishwasher*
Walk-in closet(s)*
Fully Equipped Kitchens
Ceramic Tiled Kitchens and Foyer*
Additional storage available

*In select units

floorplan - Golden Shore of Jacksonville

Type	Units	Sqr Ft.
Studio	248	450
1×1	74	750
2×1	30	1050
2×1.5	2	1050

Market

Jacksonville Overview

One of the nation’s most resilient and desirable multi-family markets. Jacksonville is the largest and the most populous city in Florida and the thirteenth most populous in the United States. Jacksonville is located in the Coast region of northeast Florida. It is centered on the banks of the St. Johns River, about 25 miles south of the Florida/Georgia border and approximately 340 miles north of Miami.

Jacksonville has a diverse economic base and is expanding at a rapid pace. Bloomberg Wealth recently listed Jacksonville, Florida, as one of the top 10 cities for population growth in 2020. The city economy is balanced among distribution, biomedical technology, finance, information services, manufacturing, and other industries. The city is a transportation hub, with a deep-water port that ranks with New York as the nation’s top two vehicle handling ports. The United States Navy is a major contributor to Jacksonville’s economy and workforce. The area’s four navy bases employ more than 56,000 and have a combined annual payroll of $1.59 billion. Bloomberg reports that over 19,000 employees of the world’s top Wall Street Firms – such as Bank of America, Citigroup, JP Morgan Chase, and Wells Fargo – have a presence in Jacksonville. Jacksonville is also home to one of only three Mayo clinics in the country. Numerous universities, colleges, and community colleges in the area contribute to a skilled workforce.

The region boasts a lower-than-average commute time, low cost of living, lack of state income taxes, picturesque river, professional sports year-round sunshine, and beach access – making Jacksonville an outstanding real estate investment market.