| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 73rd | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1615 NE 16th Ave, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1978 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1615 NE 16th Ave Gainesville Multifamily Investment
Positioned in an amenity-rich inner suburb of Gainesville, this 1978 asset benefits from steady neighborhood renter demand and broad tenant appeal, according to WDSuite's CRE market data.
The property sits in an Inner Suburb pocket that ranks 1st out of 114 Gainesville neighborhoods overall (A+ rating), with amenity access in the top quartile nationally. Cafe and restaurant density are particularly strong (both near the top of U.S. neighborhoods), and park access ranks among the highest locally—favorable for leasing appeal and day-to-day livability.
Neighborhood occupancy is around the low 90% range and has trended modestly upward in recent years, supporting stable cash flow expectations for well-managed assets. Home values in the area are elevated enough to sustain renter reliance on multifamily housing, while rent-to-income levels indicate manageable affordability pressure—both factors that can aid retention and pricing discipline for operators.
Renter concentration in the immediate neighborhood is roughly in the low-40% share of housing units, signaling a meaningful base of renter-occupied units without overexposure. Within a 3-mile radius, demographics show population growth over the past five years and a notable increase in households, with further household expansion projected—indicating a larger tenant base and continued multifamily demand. These trends, based on commercial real estate analysis from WDSuite, point to durable renter demand as the area matures.
On the convenience side, grocery access measures well above the national average; however, pharmacy presence is limited locally, which may shift some errands to adjacent neighborhoods. Overall, proximity to daily needs, dining, parks, and services supports leasing velocity and resident satisfaction.
Safety indicators for this neighborhood sit below national percentiles, indicating elevated risk versus typical U.S. neighborhoods. Even so, recent year-over-year trends show improving conditions, with both violent and property offense rates moving downward—an important factor for investors evaluating operating strategies and tenant retention.
Given the recent declines and ongoing monitoring needs, owners often focus on lighting, access controls, and active onsite management to support resident experience and occupancy stability as conditions evolve.
This 100-unit multifamily property built in 1978 is newer than the neighborhood average, offering relative competitiveness versus older stock while still presenting potential to modernize systems and finishes. The immediate area’s amenity strength, rising household counts within a 3-mile radius, and neighborhood occupancy around the low 90% range support demand durability and leasing stability. According to CRE market data from WDSuite, local home values and rent-to-income dynamics reinforce renter reliance on multifamily housing, aiding retention for well-operated assets.
Forward-looking fundamentals are anchored by a growing renter pool and strong daily-needs access, while the submarket’s vintage mix creates opportunities for thoughtful value-add. Operators should account for neighborhood safety considerations alongside routine capital planning to sustain occupancy and pricing power over a multi-year hold.
- Amenity-rich Inner Suburb location with top-tier dining and parks supporting leasing appeal
- Neighborhood occupancy around the low 90% range helps underpin cash flow stability
- 1978 vintage offers relative competitiveness vs. older stock with room for modernization
- Within 3 miles, population and household growth expand the tenant base over time
- Risk: Safety metrics sit below national percentiles, requiring active management and security focus