| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2162 SW 34th St, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1972 |
| Units | 100 |
| Transaction Date | 2020-01-30 |
| Transaction Price | $16,275,000 |
| Buyer | GAINESVILLE PICCADILLY OPERATOR LLC |
| Seller | PICCADILLY APARTMENTS LLC |
2162 SW 34th St Gainesville Multifamily Investment
High renter concentration in the surrounding neighborhood and dense daily amenities support consistent leasing, according to WDSuite’s CRE market data. Occupancy trends are steady at the neighborhood level, suggesting demand resilience for well-managed assets.
Located in an Inner Suburb of Gainesville, the property benefits from a neighborhood that ranks 2 out of 114 metro neighborhoods (A+). Amenity access is competitive among Gainesville neighborhoods, with restaurants and groceries placing near the top of the metro and in the top quartile nationally, reinforcing convenience-driven renter appeal.
Neighborhood-level renter-occupied housing is elevated (about four in five units renter-occupied), indicating a deep tenant base and potential demand stability for multifamily. Median contract rents in the neighborhood sit near the middle of national markets, while occupancy levels are consistent with local norms, supporting day-one leasing continuity for comparable assets.
Within a 3-mile radius, population and household counts have expanded and are projected to continue growing, pointing to a larger tenant base ahead. The area skews younger, with a sizable 18–34 renter pool, and forecasts call for more households even as average household size trends smaller—factors that typically support absorption of apartments suited to singles and roommates. These dynamics, based on multifamily property research from WDSuite, suggest durable demand tailwinds.
Ownership remains accessible relative to many U.S. markets, yet neighborhood value-to-income and rent-to-income metrics indicate some affordability pressure for renters. For investors, this mix often translates into steady retention for appropriately priced units, while requiring attentive lease management and renewal strategies.
Safety signals are mixed. At the neighborhood level, overall crime benchmarks sit below the national median, but recent trend data shows notable year-over-year improvement, with both violent and property offense estimates declining. This combination warrants standard risk controls while acknowledging improving momentum relative to prior-year readings.
Compared with other Gainesville neighborhoods (114 total), the area performs around the middle of the pack on crime measures. Investors typically address this profile through routine security, lighting, and resident-engagement practices that support leasing and retention without overcapitalizing.
This 100-unit asset, built in 1973, offers scale in a renter-heavy Gainesville neighborhood where amenity access and a large 18–34 renter pool underpin demand. The vintage implies potential value-add through interior updates and select building system improvements, positioning the property to compete against newer stock while capturing rent lifts supported by neighborhood fundamentals. According to commercial real estate analysis from WDSuite, neighborhood-level NOI per unit is competitive locally, and occupancy is in line with area norms, pointing to stable day-to-day operations with upside from renovations.
Forward-looking 3-mile demographic trends indicate continued population and household growth, with smaller average household sizes that can favor multifamily absorption. While neighborhood rent-to-income readings suggest some affordability pressure and safety indicators sit below national medians, recent crime declines and an entrenched renter base support a balanced risk-reward profile for a prudent capital plan.
- Renter-heavy neighborhood and strong daily amenities support consistent leasing
- 1973 vintage presents value-add potential via interiors and selective systems work
- Neighborhood occupancy and NOI per unit are competitive versus local peers
- 3-mile population and household growth expand the tenant base and absorption
- Risks: affordability pressure and mid-pack safety metrics require proactive operations