| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1015 SW 7th Ave, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 2003 |
| Units | 100 |
| Transaction Date | 2012-07-20 |
| Transaction Price | $3,309,650 |
| Buyer | CAPITAL ASSETS GROUP II LLC |
| Seller | CAPITAL ASSETS GROUP LLC |
1015 SW 7th Ave Gainesville Multifamily Investment
Renter demand in this Urban Core neighborhood is deep, and neighborhood NOI per unit trends are strong according to WDSuite’s CRE market data, supporting steady leasing potential. Recent occupancy patterns show some softness, so underwriting should emphasize tenant retention and leasing velocity.
The property sits in Gainesville’s Urban Core with a neighborhood rating of A and a rank of 16 out of 114 metro neighborhoods, placing it in the top quartile among Gainesville areas for overall fundamentals. Local context points to durable renter demand and competitive positioning versus much of the metro.
Livability is reinforced by dense daily-needs access: grocery and pharmacy availability rank near the top of the metro, and restaurant density is among the highest locally, while parks and cafes are more limited. School ratings in the immediate area trend below metro and national norms, which investors should factor into marketing and tenant mix expectations rather than rent strategy.
Multifamily dynamics favor leasing: the neighborhood has a high share of renter-occupied housing units, indicating a large tenant base and consistent turnover. At the same time, neighborhood occupancy has eased versus prior years, so assets that differentiate on operations or finishes can capture demand from competing stock.
Vintage matters: built in 2003, the asset is newer than the neighborhood’s average 1980s-era stock, which typically supports competitiveness on systems and finishes. Investors should still plan for mid-life capital items and selective upgrades to maintain an edge against newer deliveries.
Within a 3-mile radius, population and households have expanded in recent years, and forecasts indicate further growth alongside rising median incomes and contract rents. This broadened renter pool supports occupancy stability and pricing power for well-managed properties, while also requiring attention to rent-to-income affordability to sustain retention.
Ownership costs in the neighborhood are relatively elevated versus local incomes, which tends to reinforce reliance on multifamily housing rather than home purchase. For investors, that context can support lease-up velocity and renewal capture, particularly for units positioned at attainable price points.
Safety outcomes in this neighborhood track below national benchmarks, and the area ranks 67 out of 114 Gainesville neighborhoods for crime, placing it below the metro median. However, WDSuite data indicates year-over-year declines in both property and violent offense rates, a constructive directional trend to monitor.
Investors should underwrite standard safety measures, emphasize lighting and access controls, and coordinate with residents on situational awareness. Comparative positioning may improve if recent downward trends continue, but assumptions should remain conservative.
This 100-unit, 2003-vintage multifamily asset benefits from a top-quartile neighborhood ranking within Gainesville and a renter-heavy housing stock that supports leasing depth. Based on CRE market data from WDSuite, neighborhood NOI per unit trends are strong, while recent occupancy moderation argues for focused asset management to drive retention and capture demand from comparable properties.
The location offers dense daily-needs access and newer-than-average vintage versus surrounding 1980s stock, positioning the property competitively. Within a 3-mile radius, population and household growth, together with rising incomes and rents, point to a larger tenant base over time. Investors should balance this with affordability considerations and conservative lease-up and renewal assumptions.
- Top-quartile neighborhood ranking in Gainesville supports long-term fundamentals
- 2003 construction offers competitive positioning versus older nearby stock
- Large renter-occupied share indicates depth of tenant demand
- Daily-needs amenity density (grocery, pharmacy, restaurants) supports retention
- Risk: recent occupancy softness and affordability pressure require disciplined pricing and retention strategies