| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1605 NW 4th Ave, Gainesville, FL, 32603, US |
| Region / Metro | Gainesville |
| Year of Construction | 1996 |
| Units | 100 |
| Transaction Date | 1989-08-18 |
| Transaction Price | $75,800 |
| Buyer | COLLEGE PK APT GAINESVILLE LTD PTNR |
| Seller | COLLIER NATHAN S |
1605 NW 4th Ave Gainesville Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base, while income performance trends are competitive for the metro, according to WDSuite’s CRE market data.
Located in Gainesville’s Urban Core, the neighborhood rates in the top quartile among 114 metro neighborhoods (A rating; rank 16), signaling durable fundamentals for multifamily. Renter-occupied housing is prevalent, indicating a sizable tenant pool that can support leasing velocity and occupancy management at the property level.
Amenity access is a clear strength. Neighborhood data show restaurants, groceries, and pharmacies in the top quartile nationally, with restaurants and pharmacies especially dense. Childcare access also scores above national norms. By contrast, parks and cafes are limited in this micromarket. For investors, the mix points to strong daily-needs convenience that can aid retention even if recreational greenspace is sparse.
Neighborhood rent levels trend around the national midrange, while occupancy is below metro leaders, suggesting measured pricing power with a need for active leasing strategy. Home values are elevated relative to local incomes (high value-to-income ratio), which tends to sustain reliance on rental housing and supports depth of demand. These dynamics, based on commercial real estate analysis from WDSuite, translate to stable renter interest but favor disciplined renewal management.
Within a 3-mile radius, recent years show population and household growth, with forecasts indicating additional expansion and a smaller average household size ahead. This trajectory implies a larger, more diffuse renter pool and steady demand for multifamily units in the near to medium term.
The neighborhood’s average construction year trends older than the subject’s 1996 vintage. That positioning can be competitive versus older stock, while investors should still plan for aging systems and selective modernization to meet current renter expectations.
Safety metrics for this neighborhood track below national percentiles and are below the metro median (ranked 67 among 114 metro neighborhoods), so investors should underwrite to heightened resident-perception considerations. That said, recent data indicate year-over-year declines in both property and violent offense rates, suggesting incremental improvement. As always, evaluate security measures, lighting, and operational practices consistent with submarket norms.
The asset’s Urban Core location benefits from a renter-heavy neighborhood, supportive amenity density, and household growth within a 3-mile radius—factors that underpin a stable tenant base. Neighborhood income performance is competitive for the metro, while homeownership remains a high-cost proposition relative to local incomes, reinforcing reliance on rentals and supporting demand depth. Based on CRE market data from WDSuite, occupancy trends lag top-performing Gainesville areas, so maintaining leasing momentum and renewal discipline will be important to sustain cash flow.
Built in 1996, the property is newer than much of the surrounding stock, offering relative competitiveness versus older assets. Targeted capital planning for aging systems and selective interior or common-area updates can help capture retention and modest pricing power as nearby households and renters expand over the next several years.
- Renter-heavy neighborhood supports a sizable, renewable tenant base and occupancy stability.
- Strong daily-needs access (restaurants, groceries, pharmacies) aids retention and leasing.
- 1996 vintage is competitive versus older local stock; plan for aging systems and targeted updates.
- Homeownership costs relative to incomes reinforce rental demand, supporting long-term fundamentals.
- Risks: below-median metro safety rankings and softer neighborhood occupancy require proactive operations.