| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 60th | Good |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1626 SW 14th St, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1978 |
| Units | 100 |
| Transaction Date | 2018-10-31 |
| Transaction Price | $1,775,000 |
| Buyer | GALEN AP APARTMENTS LLC |
| Seller | TITAN TIPTON LLC |
1626 SW 14th St Gainesville Multifamily Investment
Renter concentration is high in the surrounding neighborhood, supporting depth of demand and leasing stability, according to WDSuite’s CRE market data. Occupancy has trended up at the neighborhood level, though affordability management remains important for retention.
The property sits in an Inner Suburb pocket of Gainesville that ranks 26 out of 114 neighborhoods (A-), indicating performance competitive among Gainesville neighborhoods. Neighborhood metrics reflect the area, not the property, and point to steady renter demand alongside operational discipline on affordability and renewals.
Local convenience is anchored by strong grocery access (ranked 12 of 114; upper-tier nationally) and a dense restaurant mix (ranked 8 of 114), while cafes, parks, and pharmacies are comparatively sparse in the immediate vicinity. For residents, this mix favors everyday essentials and dining, with fewer third places and green spaces nearby.
At the neighborhood level, median contract rents have grown over the past five years and occupancy has improved, supporting an investment case centered on durable renter demand. A high share of renter-occupied housing units (renter concentration) suggests a broad tenant base, which can aid leasing velocity and renewal depth, though it also heightens the need for competitive amenities and service levels to stand out.
Within a 3-mile radius, demographics skew younger, with a large 18–34 cohort, population growth over the past five years, and an increase in households. This combination expands the near-term renter pool and can support occupancy stability. Looking ahead, projections show continued growth and a smaller average household size, which generally favors multifamily absorption over time. Based on CRE market data from WDSuite, elevated ownership costs relative to incomes in the neighborhood context reinforce reliance on rental options, supporting pricing power when paired with careful lease management.
Vintage matters: the property was built in 1978, older than the neighborhood’s average construction year. That age profile typically implies ongoing capital planning and select value-add opportunities to modernize interiors, improve energy systems, or refresh common areas to remain competitive versus newer stock.
Neighborhood safety indicators are mixed and should be monitored alongside property-level controls. Overall crime sits around the metro middle (ranked 61 out of 114 Gainesville neighborhoods), while national comparisons indicate lower relative safety, with both violent and property offense rates positioned in lower national percentiles. These figures describe the neighborhood, not this specific asset.
Trend direction is notable: estimated property offenses declined year over year (approximately a one-fifth reduction), placing the neighborhood in an above-average improvement tier versus peers nationally. For investors, this supports a risk framework focused on lighting, access control, and partnership with local patrols to sustain momentum rather than relying on trend continuation.
This 100-unit, 1978-vintage asset benefits from a renter-heavy neighborhood, steady occupancy gains at the neighborhood level, and strong access to daily-needs retail and dining. The 3-mile trade area shows a large 18–34 population, recent population and household growth, and projections for continued renter pool expansion—all supportive of multifamily demand and lease-up resiliency. According to CRE market data from WDSuite, ownership remains comparatively high-cost relative to local incomes in this neighborhood context, which can sustain reliance on rentals and provide pricing power when coupled with thoughtful renewal strategies.
At the same time, the area’s elevated rent-to-income dynamics and below-average national safety positioning warrant active management. The vintage is older than the neighborhood average, creating both value-add potential and the need for targeted capital improvements to remain competitive against newer supply.
- Renter-heavy neighborhood and growing 3-mile population support a broad tenant base and occupancy stability.
- Daily-needs access (groceries) and dining density help retention and leasing velocity.
- 1978 vintage offers value-add and modernization angles to enhance competitiveness.
- Neighborhood occupancy improvement and rent growth signal durable demand at the area level.
- Risks: affordability pressure (rent-to-income), neighborhood safety positioning, and ongoing CapEx for an older asset.