North Jacksonville’s Breakwater Studios, a 192-unit studio complex carved out of a 1970s motel, just scored a big resale win. The property changed hands on May 5 for $12.3 million, a sharp jump in value for the budget-friendly community tucked just west of I-95 near the Jacksonville Zoo. On a per-unit basis, the deal pencils out to roughly $64,062.
Deal details
The buyer is TLV Investments 2 LLC, which acquired Breakwater Studios through a Sunrise-based entity called Jax Fund 5 LLC. The seller, Shoreline Capital CRE LLC, moved the asset through 1057 Broward Landing LLC. The sale closed May 5 at $12.3 million, according to Jax Daily Record.
Property background and prior sale
The complex sits at 1057 Broward Rd on roughly 8.65 acres and started life in 1973 as a motel before being converted into a 192-unit studio community. Public records from the Duval County Property Appraiser show the parcel sold in 2022 for about $7.39 million, underscoring how quickly values have climbed heading into 2026. The county lists the parcel under ID 022106-0020 and details the low-rise buildings and land area that make up the site.
A closer look at the units and rents
Listings for Breakwater Studios show compact units of roughly 286 to 316 square feet, with advertised monthly rents in the ballpark of $800 to $890. The community is marketed as smoke-free and value-oriented, aimed at renters watching every dollar rather than chasing luxury finishes. On-site features include property management and maintenance, laundry facilities, a clubhouse, courtyard, grilling and picnic areas, key-fob entry and bicycle storage, according to Apartments.com.
What the sale signals for Jacksonville's market
At about $64,062 per unit, the Breakwater Studios sale sits well below the metro’s recent average price-per-unit benchmarks, which lines up with its small-footprint, renter-by-necessity profile rather than a high-end, amenity-heavy product. Industry data shows Jacksonville has absorbed a heavy wave of new deliveries and is carrying a sizable under-construction pipeline, trends that have cooled rent growth and steadied occupancy in many submarkets. That broader context is laid out in the April 2026 Jacksonville multifamily report, and, according to Yardi Matrix, the metro’s 2025 average price per unit was roughly $155,199.
Who is behind the buyer
Florida business filings show Jax Fund 5 LLC, the entity listed on the deed, as a Sunrise-based fund managed by TLV Investments 2 LLC, a standard structure for buyers assembling regional portfolios. Company registration records list a Sunrise address for Jax Fund 5 LLC and identify TLV Investments 2 LLC as its manager, according to Sunbiz/BizProfile.
