| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 61st | Best |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1040 SW 14th Ave, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1989 |
| Units | 100 |
| Transaction Date | 1998-07-01 |
| Transaction Price | $3,222,800 |
| Buyer | OAKBROOK HOLDING LLC |
| Seller | OAKBROOK WALK LTD |
1040 SW 14th Ave Gainesville Multifamily Investment
Neighborhood indicators point to a deep renter base and improving occupancy trends, according to WDSuite’s CRE market data. These metrics reflect neighborhood conditions rather than this specific property and suggest steady demand drivers for a 1989 vintage, 100-unit asset in Gainesville.
Located in Gainesville’s Inner Suburb, the neighborhood ranks 25th out of 114 metro neighborhoods with an A- rating, indicating competitive fundamentals within the local context. Grocery and dining access are relative strengths (grocery density ranks 8 of 114; restaurants 7 of 114), while cafes, parks, childcare, and pharmacies are limited within the immediate area. For investors, this mix often supports day-to-day convenience for residents even as lifestyle amenities remain more destination-based.
Renter concentration is a defining feature: the neighborhood’s share of renter-occupied housing is among the highest in the metro (rank 3 of 114). This typically signals a deep tenant base and consistent leasing velocity for multifamily. Neighborhood occupancy has also trended higher over the past five years, supporting the case for demand durability, though individual asset performance will vary.
Construction year averages in the neighborhood skew to the mid-1980s. With a 1989 vintage, the property is slightly newer than local norms, which can enhance competitive positioning against older stock. However, investors should still plan for targeted modernization and systems upgrades as part of long-term capital planning.
Within a 3-mile radius, population and household counts have grown historically and are projected to expand further, pointing to a larger tenant base over time. The area skews younger with a large 18–34 share, which often aligns with sustained multifamily demand and supports occupancy stability across cycles. Neighborhood-level school ratings stand out at the top of the metro (rank 1 of 114; top percentile nationally), a potential retention benefit for households who prioritize education access.
Income levels in the immediate neighborhood are lower relative to metro norms, and rent-to-income readings indicate affordability pressure. For investors, this underscores the importance of pricing discipline, amenity selection, and lease management to support retention, even as NOI per unit performance sits competitively among Gainesville neighborhoods (rank 7 of 114).
Safety metrics are mixed when viewed comparatively. The neighborhood’s crime rank is 34th out of 114 Gainesville neighborhoods, indicating higher crime relative to the metro median and somewhat below-average safety versus neighborhoods nationwide. At the same time, year-over-year trends show improvement, with estimated violent and property offense rates declining at a pace that ranks above many peers nationally.
For investors, this combination suggests using practical measures—on-site lighting, access control, and resident engagement—while monitoring ongoing trend improvement. Interpret these figures as neighborhood-level indicators, not a block-level assessment for the property.
This 100-unit, 1989-vintage multifamily asset sits in a Gainesville neighborhood with strong renter orientation and improving occupancy trends, factors that typically support leasing stability. Amenity access is anchored by grocery and dining density, while broader lifestyle amenities are more limited nearby. Population and household growth within a 3-mile radius point to gradual renter pool expansion, and school ratings are among the metro’s strongest—features that can aid retention. Based on CRE market data from WDSuite, neighborhood NOI per unit is competitive among Gainesville submarkets, though affordability pressure suggests disciplined rent setting and expense control remain important.
The 1989 construction is slightly newer than the neighborhood average, which can position the asset favorably versus older stock; however, investors should anticipate targeted modernization and systems updates to sustain competitiveness. Risk considerations include neighborhood-level affordability pressure (high rent-to-income), a crime profile that runs above the metro median despite recent improvement, and limited nearby parks and specialty amenities—factors to weigh in underwriting and asset management plans.
- Deep renter-occupied housing share supports tenant demand and leasing velocity
- Occupancy trending upward at the neighborhood level, aiding revenue stability
- Grocery and restaurant density convenient for residents; top-ranked schools bolster retention
- 1989 vintage offers relative competitiveness versus older stock with value-add modernization potential
- Risks: affordability pressure, above-metro crime levels (improving), and limited parks/cafes nearby