| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1016 SW 8th Ave, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 2007 |
| Units | 100 |
| Transaction Date | 2014-09-25 |
| Transaction Price | $1,950,000 |
| Buyer | GAINESVILLE HISTORIC PROPERTIES LLC |
| Seller | VISIONS SOUTH LLC |
1016 SW 8th Ave Gainesville Multifamily Investment
Renter demand is reinforced by an Urban Core location with strong neighborhood amenities and a high share of renter-occupied units, according to WDSuite’s CRE market data. Neighborhood occupancy trends warrant close leasing management, but proximity-driven convenience supports steady tenant interest.
Located in Gainesville’s Urban Core, the property benefits from amenity depth that supports daily convenience and lease retention. The neighborhood ranks 16 out of 114 metro neighborhoods (top quartile nationally) and shows particularly strong access to restaurants, groceries, and pharmacies, while parks and cafes are more limited. These patterns typically favor walkable, student- and workforce-oriented renting, helping sustain traffic even as competition shifts.
Neighborhood occupancy is measured for the neighborhood, not the property. Current occupancy sits below national medians, and five-year trends indicate some softening, suggesting owners should plan for disciplined leasing and renewal strategies. Counterbalancing this, renter concentration is high (share of housing units that are renter-occupied), indicating a deep tenant base for multifamily operators.
Home values sit in the mid range for the region, but the neighborhood’s value-to-income ratio is elevated relative to national benchmarks. In practice, this points to a high-cost ownership market for local incomes and tends to sustain reliance on multifamily rentals, which can aid pricing power and reduce move-outs to ownership during tight leasing seasons.
Within a 3-mile radius, population and households have grown over the last five years, with projections indicating continued expansion. A large share of adults falls in the 18–34 range, which typically supports apartment demand and turnover-driven leasing velocity. These demographic dynamics, based on CRE market data from WDSuite, imply a larger tenant base over time and support for occupancy stability.
The neighborhood’s average construction vintage skews older than 2000s stock; this asset was built in 2007, which is newer than the neighborhood average. Newer vintage can be competitively positioned versus older buildings, though investors should still underwrite for selective modernization as systems age to sustain rent premiums.
Safety conditions should be evaluated in context. The neighborhood ranks 67 out of 114 Gainesville metro neighborhoods on crime, indicating it is below the metro median. Compared with neighborhoods nationwide, safety indicators align with lower national percentiles, so prudent security, lighting, and access-control measures are advisable for asset operations.
Recent momentum is directionally positive: one-year estimates show declines in both property and violent offenses versus the prior year, according to WDSuite’s CRE market data. While this improvement is encouraging, investors should underwrite with conservative assumptions and monitor submarket trends alongside property-level measures.
2007 construction provides a relative edge versus older neighborhood stock, supporting competitive positioning with the right refresh program. High renter concentration at the neighborhood level signals depth in the tenant pool, while the Urban Core setting delivers amenity access that helps sustain demand even when occupancy across the neighborhood trends below national norms. According to CRE market data from WDSuite, ownership costs run high relative to local incomes, which generally reinforces reliance on rentals and can support pricing discipline.
Within a 3-mile radius, recent growth in population and households — with projections indicating further expansion — points to a larger renter base over time. This supports an investment thesis centered on durable renter demand, steady leasing activity, and targeted value-add to maintain competitiveness as systems age.
- Urban Core location with strong daily amenities supports traffic and retention
- 2007 vintage offers competitive positioning versus older area stock; plan selective modernization
- High renter-occupied share indicates depth of tenant base and demand durability
- Demographic growth within 3 miles expands the renter pool and supports occupancy stability
- Risks: neighborhood safety sits below metro average and occupancy is softer; underwrite conservative leasing and security measures