| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 213 NW 8th St, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1999 |
| Units | 100 |
| Transaction Date | 2004-02-25 |
| Transaction Price | $575,000 |
| Buyer | REGALADO FLORENCIO G |
| Seller | OKKEN TIM |
213 NW 8th St Gainesville Multifamily Investment
High renter concentration and a high-cost ownership landscape in the surrounding neighborhood point to durable tenant demand, according to WDSuite’s CRE market data.
Positioned in Gainesville’s Urban Core, the neighborhood surrounding 213 NW 8th St is rated A and ranks 16th out of 114 local neighborhoods, placing it in the top quartile among Gainesville submarkets. The area offers strong daily-needs convenience with abundant restaurants (top national percentiles), plus high access to grocery and pharmacy options. Parks and cafés are less prevalent, so outdoor and third-space amenities are comparatively limited.
Renter demand indicators are notable: neighborhood renter-occupied share is very high, supporting a deep tenant base for multifamily assets. Neighborhood occupancy has been softer and below national averages in recent years, suggesting investors should prioritize leasing strategies and renewals to stabilize performance. Median contract rents in the neighborhood sit near the middle of national ranges, providing room to compete on value and retention rather than solely on headline pricing.
Within a 3-mile radius, demographics point to a growing renter pool: recent years show population and household growth, and projections indicate a substantial increase in households by 2028. Expected decreases in average household size suggest more smaller households entering the market, which can support absorption of studio and one-bedroom inventory and help underpin occupancy stability.
Ownership costs remain elevated relative to local incomes (high national value-to-income standing), which tends to keep more households in the rental market and can support lease retention for well-positioned properties. At the same time, rent-to-income levels indicate affordability pressure for some residents, making renewal management and amenity-driven differentiation important for sustained performance. The property’s 1999 vintage is newer than the neighborhood average (1986), providing a competitive edge versus older stock while still leaving room for targeted system upgrades and modernization to support positioning.
Safety conditions in the surrounding neighborhood trend below national norms, and the area ranks 67th of 114 Gainesville neighborhoods, indicating higher crime levels than many local peers. However, recent year-over-year data show declines in both property and violent offenses, a constructive trend investors can monitor as part of ongoing risk assessment and operating plans. Comparisons are based on neighborhood-level metrics and national percentiles from WDSuite’s CRE market data.
This 100-unit, 1999-vintage asset benefits from an Urban Core location where renter concentration is very high and ownership is relatively costly compared with local incomes—factors that sustain reliance on multifamily housing. Amenity access is strong for daily needs (grocery and pharmacy), and restaurant density is among the highest nationally, supporting leasing and retention. While neighborhood occupancy has trailed national averages, strong neighborhood-level income performance per unit and deep renter demand create a platform for disciplined leasing and value-focused positioning, based on CRE market data from WDSuite.
Within a 3-mile radius, population and households have grown and are projected to continue expanding, implying a larger tenant base and ongoing renter pool expansion. The 1999 construction is newer than area norms, which can moderate near-term capital needs while leaving room for targeted modernization to drive rent positioning. Key risks include affordability pressure (elevated rent-to-income) and below-average safety metrics, which call for careful renewal strategies, expense control, and resident-experience improvements.
- High renter concentration and costly ownership support durable multifamily demand
- 1999 vintage newer than neighborhood average, offering competitive positioning with targeted upgrades
- Amenity-rich Urban Core location aids leasing velocity and retention
- Demographic growth within 3 miles expands the tenant base and supports occupancy stability
- Risks: softer neighborhood occupancy, affordability pressure, and below-average safety require active management