| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 65th | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1210 NW 11th Ave, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1980 |
| Units | 100 |
| Transaction Date | 2020-10-30 |
| Transaction Price | $4,395,000 |
| Buyer | MBJ INVESTMENTS INC |
| Seller | WAGNER PHILIP H |
1210 NW 11th Ave Gainesville Multifamily Investment
Neighborhood fundamentals point to durable renter demand supported by a high share of renter-occupied housing and improving occupancy trends, according to WDSuite’s CRE market data. Focus is on steady leasing and cash flow predictability rather than outsized rent spikes.
Situated in Gainesville’s inner suburb fabric, the property benefits from a neighborhood that ranks 4 out of 114 across the metro (A+), indicating competitive positioning among Gainesville neighborhoods. Amenity access is a local strength: grocery, parks, and pharmacies rank near the top of metro peers, while restaurant density is strong; cafés are less concentrated. For investors, this mix tends to support daily convenience and resident retention.
Built in 1980, the asset is slightly newer than the neighborhood’s average construction year. That vintage can remain competitive versus older stock, though investors should plan for targeted system updates or interior modernization to sustain leasing velocity and renter appeal over a multi-year hold.
Renter-occupied housing is prominent at the neighborhood level, signaling a deep tenant base for multifamily. Neighborhood occupancy sits in the mid-80s and has trended upward over the last five years; this refers to the neighborhood, not the property. In a market where rent-to-income is around one-fifth, pricing power may be more about steady renewals than aggressive increases, helping manage turnover risk.
Within a 3-mile radius, population and households have expanded in recent years with forecasts calling for further growth, indicating a larger tenant base and ongoing demand for rental units. Median home values are below many coastal markets but ownership costs relative to incomes skew higher than some metros, which can reinforce reliance on multifamily rentals and support occupancy stability. These dynamics align with Gainesville’s university-anchored economy while remaining grounded in local income and housing trends based on CRE market data from WDSuite.
Safety trends are mixed. Compared with 114 metro neighborhoods, this area sits below the metro median for safety, and national comparisons place it in lower safety percentiles. However, recent year-over-year readings indicate double-digit declines in both property and violent offense estimates, suggesting improvement momentum. Use prudent underwriting—security measures, lighting, and resident engagement—to help manage risk.
This 1980-vintage, 100-unit asset aligns with renter-driven neighborhood dynamics and strong daily amenities. Neighborhood occupancy has firmed over five years and renter concentration is high, supporting depth of the tenant base and steady renewal potential. According to CRE market data from WDSuite, local rent-to-income levels point to relatively manageable affordability pressure, which can aid lease retention and reduce turnover cost.
The vintage positions the property for selective value-add—targeted unit refreshes and system updates—to improve competitive standing against older product while avoiding the capex intensity of much earlier stock. Demographic growth within 3 miles and a strong services/retail amenity set further support leasing consistency. Key risks include neighborhood safety that trails metro and national benchmarks and occupancy that, while improving, requires active leasing management.
- Renter-occupied concentration supports a deep tenant base and stable renewals.
- Upward neighborhood occupancy trend over five years supports leasing stability (neighborhood metric).
- 1980 construction offers value-add potential through targeted interior and system updates.
- Strong grocery/park/pharmacy access aids retention and day-to-day livability.
- Risk: Safety ranks below metro median; proactive operations and security planning recommended.