JACKSONVILLE, FL., – September 10, 2021 – NAI Hallmark, a leading commercial real estate brokerage and property management firm in Jacksonville, announces the sale of Villager Apartments South located at 2951 Justina Road, Jacksonville, FL 32277. Senior Associate Luke McCann represented the buyer, Pango Villager Investment, in this off-market transaction which closed for $2,225,000. The seller was Villager Investment Properties, LLC.
The 40-unit multifamily asset was built in 1971 in the Arlington submarket of Jacksonville. The property is centrally located and convenient to all major submarkets of Jacksonville. The property is comprised of five 8-unit buildings, all with sizeable one-bedroom floor plans.
“Villager South Apartments represents a premium value-add opportunity in the heart of the Arlington submarket where investment capital continues to flow across all asset types looking for top appreciation,” said Luke McCann of NAI Hallmark. “Rent levels here are still well below other submarkets of Jacksonville. As the overall local economy continues to thrive through strong population and job growth, I anticipate an even greater appetite for well-positioned assets such as Villager South in the market.”
For more information regarding the sale of Villager Apartments South, or any questions relating to multifamily investment assets, please contact Luke McCann at lmm@naihallmark.com
