| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 56th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2330 SW Williston Rd, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1990 |
| Units | 100 |
| Transaction Date | 1994-08-10 |
| Transaction Price | $13,880,000 |
| Buyer | KINGS GAINESVILLE APARTMENTS LLC |
| Seller | COLONIAL REALTY LP |
2330 SW Williston Rd Gainesville Multifamily Investment
Neighborhood renter concentration is high and occupancy has trended upward, pointing to a durable tenant base near the University corridor, according to WDSuite’s CRE market data. These are neighborhood-level signals, not property performance, and they support steady leasing dynamics even as pricing requires thoughtful management.
The property sits in Gainesville’s Urban Core, where neighborhood-level metrics indicate resilient renter demand and a deep tenant pool. Neighborhood occupancy is in the mid-80s and has improved over the past five years, while the share of renter-occupied housing units is among the highest in the metro (ranked 6 out of 114 neighborhoods), signaling a broad base of multifamily demand rather than owner turnover.
Within a 3-mile radius, population and household counts have expanded, and forecasts point to further increases in both population and households over the next five years. This growth implies a larger tenant base and supports occupancy stability as more renters enter the market. Median rents in the neighborhood have risen meaningfully over the last five years, which aligns with Gainesville’s broader demand drivers but also calls for active lease management to balance retention.
Local amenity availability is mixed: restaurant density performs above many areas in the metro, while cafes, parks, groceries, and pharmacies are sparse in the immediate neighborhood. For investors, this typically means residents rely on a narrower set of nearby services and destination retail nodes, which can concentrate demand along key corridors.
Home values in the neighborhood sit below national medians, which creates a relatively more accessible ownership landscape. For multifamily investors, that can introduce some competition with entry-level ownership; however, the high renter-occupied share and projected renter pool expansion within 3 miles help sustain leasing depth and reduce volatility in unit absorption.
Safety indicators for this neighborhood trend below national averages, and the area ranks in the lower half among 114 Gainesville neighborhoods for crime. That said, recent data show a year-over-year decline in estimated violent offenses, suggesting some improvement in trend even if absolute levels remain elevated compared with many U.S. neighborhoods.
Investors typically account for these dynamics through lighting, access control, and resident engagement measures, and by underwriting with conservative assumptions for marketing and turnover. Always evaluate property-specific measures and block-level context during due diligence, as neighborhood statistics reflect broader patterns rather than this asset’s conditions.
Built in 1994, the 100-unit asset is positioned for durable renter demand in a Gainesville neighborhood with a very high share of renter-occupied housing and improving occupancy. Within a 3-mile radius, population and households are growing and are projected to expand further, supporting a larger tenant base and steady lease-up prospects. Based on CRE market data from WDSuite, neighborhood rents have increased over five years, reinforcing pricing power when paired with careful retention strategy.
The vintage supports a pragmatic value-add thesis: systems and finishes may benefit from targeted modernization to remain competitive against newer supply, while the neighborhood’s renter depth and growth trajectory help backfill turnover. Counterbalancing factors include safety considerations and household affordability pressure in the neighborhood, which argue for disciplined underwriting and asset management.
- High neighborhood renter-occupied share supports deep tenant demand and leasing stability
- 3-mile population and household growth point to a larger renter pool and occupancy support
- 1994 vintage offers targeted value-add and modernization potential versus older stock
- Neighborhood rents have risen over five years, supporting measured pricing power with retention focus
- Risks: below-average safety metrics and affordability pressure require conservative underwriting and proactive management