Multifamily Tax Credit
Southside Commons
9801 Old Baymeadows Rd, Jacksonville, FL 32256
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is excited to present Southside Commons (“The Property”), a 162-unit multifamily residential complex built in 1972, strategically located in Southside Jacksonville — the city’s top performing submarket, which led in absorption in 2024 with over 1,250 units leased. This centrally located, garden-style asset offers excellent visibility along Old Baymeadows Road (26K+VPD) with direct access to Interstate 95 (<1mile) and Southside Boulevard (0.25miles), connecting to all major MSA employment hubs and 135K jobs within 5-miles. The Property borders Florida State College of Jacksonville (Deerwood campus) and sits directly across from the 236K SF Deerwood Village Shopping Center (anchored by Publix, now underre-development), offering rare suburban walkability. Southside Commons consists of a blend of affordable (75%) and market-rate (25%) units, with unit sizes averaging 1,206SF — among the largest in the submarket. Current ownership has also invested $650K in capital improvements, including renovations to ~65 units and $160K + inroofing, landscaping, and amenity upgrades. The Property can be acquired free and clear or with the benefit of attractive assumable debt at a 3.33% interest rate.
The Property is strongly positioned for continued performance and value creation, supported by exceptional market fundamentals. Household incomes average approximately $89,000 within a 3-mile radius. Population growth within a 1-mile radius reached 18% from 2020–2024 (3.6%annually), with an additional 7% (1.4%annually) projected through 2029. Rent growth in Southside is forecasted at 0.9% in 2025, with nearly 16% cumulative growth through 2030 (3.1%annually). These trends offer ample room for further rent increases, particularly given the Property’s spacious floorplans and upgraded units. Southside Commons represents a compelling opportunity for investors seeking a stable, income-producing asset in a high-growth Jacksonville submarket with significant remaining upside.
Southside Commons
Investment Highlights
- Market / Affordable Asset –Subject features a mixture of affordable (75%) and market-rate (25%) units.
- Assumable Debt –Existing, assumable debt on the property at a favorable 3.33% rate.
- Capital Expenditures –Owner has spent ~$650K+ in capex, including ~65 units renovated, and $160K+ in roofing, landscaping and amenity-space improvements.
- Centrally-located with superb-visibility –26K+ vehicles passing each day along Old Baymeadows Rd –and quick subject access to Interstate 95 (<1 mile westward) and Southside Blvd (0.25 miles eastward) connecting all major MSA employment hubs.
- Rare suburban walkability –borders Florida State College of Jacksonville (FSCJ), Deerwood campus –and located directly across Old Baymeadows Road from the Deerwood Village Shopping Center (236K SF of Retail) with Publix under re-development.
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- Market / Affordable Asset –Subject features a mixture of affordable (75%) and market-rate (25%) units.
- Assumable Debt –Existing, assumable debt on the property at a favorable 3.33% rate.
- Capital Expenditures –Owner has spent ~$650K+ in capex, including ~65 units renovated, and $160K+ in roofing, landscaping and amenity-space improvements.
- Centrally-located with superb-visibility –26K+ vehicles passing each day along Old Baymeadows Rd –and quick subject access to Interstate 95 (<1 mile westward) and Southside Blvd (0.25 miles eastward) connecting all major MSA employment hubs.
- Rare suburban walkability –borders Florida State College of Jacksonville (FSCJ), Deerwood campus –and located directly across Old Baymeadows Road from the Deerwood Village Shopping Center (236K SF of Retail) with Publix under re-development.
Investment Overview
Marcus & Millichap is excited to present Southside Commons (“The Property”), a 162-unit multifamily residential complex built in 1972, strategically located in Southside Jacksonville — the city’s top performing submarket, which led in absorption in 2024 with over 1,250 units leased. This centrally located, garden-style asset offers excellent visibility along Old Baymeadows Road (26K+VPD) with direct access to Interstate 95 (<1mile) and Southside Boulevard (0.25miles), connecting to all major MSA employment hubs and 135K jobs within 5-miles. The Property borders Florida State College of Jacksonville (Deerwood campus) and sits directly across from the 236K SF Deerwood Village Shopping Center (anchored by Publix, now underre-development), offering rare suburban walkability. Southside Commons consists of a blend of affordable (75%) and market-rate (25%) units, with unit sizes averaging 1,206SF — among the largest in the submarket. Current ownership has also invested $650K in capital improvements, including renovations to ~65 units and $160K + inroofing, landscaping, and amenity upgrades. The Property can be acquired free and clear or with the benefit of attractive assumable debt at a 3.33% interest rate. The Property is strongly positioned for continued performance and value creation, supported by exceptional market fundamentals. Household incomes average approximately $89,000 within a 3-mile radius. Population growth within a 1-mile radius reached 18% from 2020–2024 (3.6%annually), with an additional 7% (1.4%annually) projected through 2029. Rent growth in Southside is forecasted at 0.9% in 2025, with nearly 16% cumulative growth through 2030 (3.1%annually). These trends offer ample room for further rent increases, particularly given the Property’s spacious floorplans and upgraded units. Southside Commons represents a compelling opportunity for investors seeking a stable, income-producing asset in a high-growth Jacksonville submarket with significant remaining upside.
Exclusively Listed By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
