The River City Landing apartments at 2681 University Blvd. N. sold Jan. 27 for $30.88 million.
The 320-unit community is across the street from Jacksonville University.
The buyer is J&B Kochen LLC of Hollywood, Florida, through 2681 University Blvd. LLC.
The seller is Toro Real Estate Partners of Jericho, New York, through four LLCs: Toro Jax Property I LLC, DJ Montgomery Property LLC, DiRenzo Real Estate Management IV LLC and DC Montgomery LLC.
The per-unit price is $96,500.
The transaction was brokered by NAI Hallmark.
The 23.98-acre community, built in 1968, comprises one-, two- and three-bedroom units from 800 to 1,280 square feet. Rents are $890 to $1,339 per month, according to apartments.com. It offers student discounts.
Amenities include two play areas, a dog park, five laundry facilities, handball, tennis and volleyball courts and a picnic area with grills.
The apartment interiors have been recently renovated and maintenance is on-site.
The property last sold in May 2019 by Ansonia Mezzco LLC of New York for $25.6 million.