| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 60th | Good |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2120 SW 14th St, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1973 |
| Units | 100 |
| Transaction Date | 2024-11-01 |
| Transaction Price | $1,950,000 |
| Buyer | ALACHUA COUNTY |
| Seller | ST FRANCIS HOUSE INC |
2120 SW 14th St Gainesville Multifamily Investment
Positioned in an Inner Suburb of Gainesville, the area shows a deep renter base and improving occupancy, according to WDSuite’s CRE market data. The submarket’s fundamentals support stable leasing with room for value-add strategy execution.
This Inner Suburb neighborhood rates A- and is competitive among Gainesville’s 114 neighborhoods on everyday convenience: grocery access ranks 12 of 114 and restaurants 8 of 114, while cafes, parks, pharmacies, and childcare options are limited locally. For investors, this mix suggests reliable daily-needs access with fewer lifestyle anchors inside the immediate blocks, which can be offset by broader Gainesville amenities.
Neighborhood occupancy is below the metro median (rank 89 of 114) but has strengthened over the past five years, signaling stabilization potential rather than late-cycle softness. The area’s renter-occupied share is among the highest nationally, supporting depth of multifamily demand and a broader tenant pool for leasing and renewals.
Within a 3-mile radius, population and households have grown in recent years and are projected to expand further, indicating a larger tenant base ahead. Projections also point to smaller average household sizes, which typically favor multifamily absorption and support occupancy stability, a dynamic supported by commercial real estate analysis trends in similar university-adjacent markets.
Ownership remains a higher-cost path relative to local incomes (value-to-income ranks in a strong national percentile), which tends to reinforce reliance on rental housing and can support lease retention. At the same time, elevated rent-to-income levels warrant disciplined pricing and proactive renewal management to limit turnover risk.
Safety indicators sit below national averages, with neighborhood crime measures placing in lower national percentiles. In the Gainesville context, the area sits mid-pack (rank 61 of 114), which underscores the importance of standard property-level security, lighting, and access controls for tenant retention.
Recent trends show property offenses declining year over year, while violent offense trends are relatively flat. For underwriting, this points to steady management expectations rather than abrupt shifts, with performance more dependent on property operations than neighborhood volatility.
Built in 1973, this 100-unit asset is older than the neighborhood’s average vintage, creating a clear value‑add path through targeted capital improvements and modernization. Leasing fundamentals benefit from one of the highest renter concentrations nationally and household growth within a 3‑mile radius, while neighborhood occupancy has improved even though it still trails the metro median. According to CRE market data from WDSuite, this combination supports durable tenant demand with upside from renovation-driven rent positioning.
Investors should calibrate pricing to local affordability, given elevated rent-to-income levels, and incorporate standard security and amenity investments that bolster retention. The amenity mix favors grocery and dining convenience, with fewer park and pharmacy options close-in, suggesting on-site offerings and resident programming can further strengthen competitiveness versus older stock.
- 1973 vintage positions the asset for value‑add upgrades and rent repositioning relative to newer comparables.
- High renter concentration and growing nearby households expand the tenant base and support occupancy stability.
- Competitive grocery and dining access enhances day‑to‑day livability for residents.
- Occupancy is below metro median but improving, indicating stabilization potential with active management.
- Risks: Elevated rent‑to‑income levels and below‑average safety metrics require careful pricing, security, and renewal strategy.