| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 105 NW 19th St, Gainesville, FL, 32603, US |
| Region / Metro | Gainesville |
| Year of Construction | 1995 |
| Units | 100 |
| Transaction Date | 2007-09-26 |
| Transaction Price | $1,938,800 |
| Buyer | LOOKING GLASS APARTMENTS LLP |
| Seller | KALLMAN CLAYTON H |
105 NW 19th St Gainesville Multifamily Investment Thesis
Renter demand is supported by a high renter-occupied share at the neighborhood level and strong local amenities, according to WDSuite’s CRE market data. Neighborhood occupancy, rents, and demographics point to depth of tenant base, with pricing power contingent on managing affordability and retention.
This Urban Core location ranks 16th out of 114 Gainesville neighborhoods (A rating), placing it in the top quartile locally for overall performance based on WDSuite’s CRE market data. Amenity access is a differentiator: restaurants rank 1st of 114 (top percentile nationally) and pharmacies rank 1st of 114, while grocery access is competitive (7th of 114). Limited parks and cafes suggest outdoor and third-space options may require short commutes.
Renter-occupied housing is concentrated at the neighborhood level (among the highest shares in the metro at 2nd of 114), signaling a deep tenant base for multifamily. Neighborhood occupancy trends are below the metro median (70th of 114), so lease-up and renewal strategies matter for stability. Median home values sit mid-range for Gainesville but, relative to neighborhood incomes, ownership is a high-cost option (value-to-income ranks 1st of 114), which tends to reinforce reliance on rentals and can support pricing power when managed carefully.
Within a 3-mile radius, population and households have expanded over the past five years, with projections through 2028 indicating continued population growth and a substantial increase in households. A large 18–34 cohort and the forecast shift toward smaller household sizes point to sustained renter pool expansion, favoring studios and smaller floor plans. For multifamily property research, this combination aligns with steady demand and supports occupancy durability when product and pricing are calibrated to local incomes.
The property’s 1995 vintage is newer than the neighborhood average construction year, offering relative competitiveness versus older stock; investors should still plan for modernization of systems and common areas to meet current renter expectations.
Safety indicators at the neighborhood level trend below national averages, with national percentiles indicating higher-than-typical violent and property offense rates. Recent year-over-year changes show improvement (declines in both violent and property offense estimates), suggesting conditions have been easing rather than worsening. Comparatively within the Gainesville metro, ranks are in the lower half of the 114-neighborhood set, so prudent security design, lighting, and resident engagement remain relevant operating considerations.
This 100-unit asset benefits from a deep neighborhood renter base and amenity-rich Urban Core positioning. According to CRE market data from WDSuite, the area posts the highest NOI per unit among 114 Gainesville neighborhoods and sits in the top decile nationally, indicating strong revenue potential when operations are well executed. Neighborhood occupancy runs below the metro median, so performance hinges on active leasing, renewals, and product-market fit.
Built in 1995, the property is newer than the neighborhood average, offering competitive positioning versus older stock while leaving room for targeted updates to enhance tenant retention. Within a 3-mile radius, population growth and a rising household count point to a larger tenant base ahead; combined with a high neighborhood renter-occupied share, this supports long-run demand. Ownership costs remain elevated relative to local incomes, which can sustain multifamily reliance, though rent-to-income levels call for thoughtful affordability and lease management.
- Amenity-rich Urban Core with top-ranked restaurant and pharmacy access supports renter convenience and leasing velocity.
- Highest neighborhood NOI per unit among 114 Gainesville neighborhoods; top-decile national positioning underpins revenue potential.
- 1995 vintage offers competitive standing versus older stock, with value-add potential through targeted modernization.
- 3-mile population and household growth expands the renter pool, supporting occupancy stability over time.
- Risks: below-metro-median neighborhood occupancy, affordability pressure relative to incomes, and safety metrics that warrant enhanced property operations.