113 NW 3rd Ave Gainesville Multifamily Investment

Neighborhood position: This address sits in an Inner Suburb pocket that ranks first among 114 Gainesville neighborhoods with an A+ neighborhood rating, per WDSuite. Amenity access is a clear strength, with restaurants and cafes concentrated at levels that are top-tier nationally, reinforcing leasing appeal for workforce and student-adjacent renters.

Livability and access: The immediate area scores in the upper national percentiles for parks and everyday conveniences like groceries, while pharmacy options are thinner within the neighborhood footprint, indicating some reliance on adjacent districts for fills. For investors prioritizing walkable lifestyle drivers, this concentration of dining and open space supports visibility and retention.

Rents, occupancy, and tenure: Neighborhood rent levels benchmark above the metro median (rank 22 of 114), and occupancy trends sit above the metro median as well. Roughly 42.9% of housing units here are renter-occupied, indicating a meaningful renter concentration that underpins depth of the tenant base without signaling saturation. These dynamics point to stable demand with room for targeted repositioning rather than heavy lease-up risk.

Demographics within 3 miles: WDSuite’s multifamily property research shows population and household counts have risen over the past five years, with projections calling for continued population growth and a larger household base. This expansion, coupled with rising incomes across the radius, supports a growing renter pool and helps sustain occupancy and rent performance versus metro and national baselines.

Asset vintage: Built in 2007, the property is newer than the neighborhood’s older housing stock. That positioning typically enhances competitive standing against mid-century assets, while still leaving scope for selective modernization of interiors and common areas to capture incremental rent and bolster renewal rates.