| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1600 NW 4th Ave, Gainesville, FL, 32603, US |
| Region / Metro | Gainesville |
| Year of Construction | 1979 |
| Units | 100 |
| Transaction Date | 2012-06-01 |
| Transaction Price | $1,780,000 |
| Buyer | TERRAPIN D LLC |
| Seller | E F N PROPERTIES LLC |
1600 NW 4th Ave Gainesville Multifamily Investment
High renter concentration in the neighborhood supports a deep tenant base, while recent occupancy softness suggests active leasing management may be required, according to WDSuite’s CRE market data.
Situated in Gainesville’s Urban Core, the neighborhood ranks 16 out of 114 metro neighborhoods with an overall A rating, signaling competitive positioning among Gainesville submarkets for multifamily investors. Restaurant access is a standout strength (top percentile nationally), with grocery and pharmacy density also scoring in the top decile, while cafes and parks are limited. This mix supports daily convenience and foot traffic around the asset.
Neighborhood occupancy is below the metro median, indicating some near-term lease-up and retention work. However, renter concentration is exceptionally high (top percentile nationally), framing a sizable pool of renter-occupied units that can underpin demand depth for a 100-unit community. Median contract rent in the neighborhood is moderate relative to many metros, which can aid leasing velocity, though pricing power will hinge on asset quality and tenant profile.
Within a 3-mile radius, population and households have expanded over the past five years, and are projected to continue growing through 2028. This points to a larger tenant base and supports occupancy stability over time. The area skews young, with a substantial 18–34 cohort, which typically aligns with sustained demand for rentals near campus-adjacent amenities and services.
Ownership costs in the neighborhood are elevated relative to local incomes (top percentile value-to-income ratio), which tends to sustain reliance on rental housing and can support lease retention. At the same time, neighborhood-level rent-to-income is high, indicating potential affordability pressure that owners should incorporate into renewal strategy and concessions planning. Average school ratings are weak in this immediate area; for multifamily, the tenant base is more likely driven by proximity, convenience, and service employment than K–12 priorities.
The asset’s 1979 vintage is older than the neighborhood’s average construction year. Investors should underwrite ongoing capital needs and consider value-add or systems modernization to stay competitive against newer stock, particularly given the neighborhood’s amenity strength and the large renter pool.
Safety trends should be assessed with care. The neighborhood’s crime ranking sits below the metro median (ranked 67 out of 114), and national comparisons indicate lower relative safety at present. That said, recent year-over-year estimates show declines in both property and violent offenses, suggesting some improvement, according to WDSuite’s CRE market data.
For underwriting, frame security and lighting upgrades, visible management presence, and resident engagement as operational tools to support retention and stabilize tenancy. Compare micro-level trends to broader Gainesville patterns over multiple years to avoid over-weighting short-term fluctuations.
1600 NW 4th Ave sits in a competitively positioned Urban Core neighborhood with exceptional amenity access and a very high share of renter-occupied housing units, supporting depth of demand for multifamily. While neighborhood occupancy has softened versus the metro median, population and household growth within a 3-mile radius point to a larger tenant base over time. Based on CRE market data from WDSuite, ownership costs are elevated relative to local incomes, which tends to reinforce reliance on rental housing and can aid lease retention.
Built in 1979, the property may benefit from targeted renovations and systems updates to enhance competitiveness against newer stock. Pricing strategy should account for neighborhood-level affordability pressure and safety headwinds, with operational focus on renewals, value-oriented amenities, and consistent property oversight.
- Core location with top-tier amenity access and strong renter concentration supporting demand depth
- Growing 3-mile population and household base supports leasing and occupancy over time
- 1979 vintage offers value-add potential through unit modernization and building systems upgrades
- Elevated ownership costs favor renter reliance, aiding retention and long-term demand
- Risks: below-metro occupancy, affordability pressure, and safety headwinds require proactive leasing and operations