The Kensley Jacksonville, FL

Investment Summary

• Class-A Asset: $6.6MM CapEx
• High Growth Submarket with Phenomenal Accessibility
• Operational Value-Add Opportunity 
• Unique Opportunity to Obtain Immediate Scale with 300 Units
• Institutional Quality Asset with Great Fundamentals
• Diverse Unit Mix: 1, 2, & 3-Bedroom Units

Class-A Asset: $6.6MM CapEx 

The Kensley presents a compelling investment opportunity, underscored by its extensive $6.6+ million renovation completed late 2021. These significant capital improvements have repositioned the property with top-of-the-market finishes and state-of-the-art smart home features, elevating its appeal to discerning renters and enhancing its competitive edge in the local market. The modern updates and premium amenities are designed to attract high-quality tenants and drive rental income, making The Kensley an incredible opportunity with strong potential for long-term growth.

High Growth Submarket with Phenomenal Accessibility

Located in the highly sought-after Orange Park submarket of Jacksonville, FL, The Kensley benefits from a strategic position with exceptional accessibility and growth potential. Located less than one mile from I-295, the property is well-connected to major employers, retailers, and key attractions, making it a prime location for attracting a diverse tenant base. Orange Park is the #2 hottest job market in the nation and the #1 in Florida, while Jacksonville is the fourth-fastest-growing city in the U.S. 

Southwest Jacksonville’s rental market is thriving, especially in the vicinity of the Collins Road and Interstate 295 interchange. Since the Florida Department of Transportation’s 2016 upgrade to a fully directional interchange, the area has experienced a boom in retail and service amenities, including Walmart, Costco, Starbucks, and various dining and medical options. This enhanced access has improved commuting convenience for residents traveling to downtown Jacksonville, Cecil Commerce Center, or the Butler Corridor, further bolstering economic growth in the area.

Operational Value-Add Opportunity 

The Kensley offers a compelling operational value-add opportunity. Currently, with occupancy below 90% due to a temporary oversupply of new apartment developments, the property is strategically poised to benefit as the Jacksonville market’s supply and demand dynamics stabilize. Market rents have returned to 2021 levels, signaling realistic potential for future rent growth. Furthermore, no new apartment projects are slated for delivery within 5 miles of Kensley in 2025 or 2026, enhancing its prospects for increased occupancy and rental income without injecting new capital.

Tenant Services