| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 56th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2335 SW 35th Pl, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1996 |
| Units | 100 |
| Transaction Date | 1994-12-12 |
| Transaction Price | $92,000 |
| Buyer | ARBOR VILLAS EAST LLC |
| Seller | WARREN MICHAEL E |
2335 SW 35th Pl Gainesville Multifamily Investment
Renter demand is supported by a high renter-occupied share in the neighborhood and improving occupancy, according to CRE market data from WDSuite. Expect steady leasing fundamentals driven by a deep tenant base, while monitoring affordability pressures at the neighborhood level.
Located in Gainesville s Urban Core, the neighborhood carries a B+ rating and is competitive among 114 Gainesville neighborhoods (rank 42 of 114), based on CRE market data from WDSuite. Neighborhood occupancy is trending upward with an 87% rate and multi-year improvement, suggesting resilience for stabilized multifamily assets.
The area shows a notably high share of renter-occupied housing (rank 6 of 114; national percentile 98), indicating a deep pool of prospective tenants and potential support for lease-up and retention. Median contract rents are top quartile among 114 Gainesville neighborhoods (rank 19 of 114), reflecting solid renter willingness to pay in this location relative to the metro.
Within a 3-mile radius, population and household counts have grown, and forecasts point to further increases in both households and incomes by 2028. This expansion implies a larger tenant base and supports occupancy stability for professionally managed units, especially those positioned for workforce and student-adjacent demand.
Property vintage is 1996 versus a neighborhood average year of 1993. The slightly newer construction can be relatively competitive against older stock, though investors should still plan for modernization of systems and common areas to meet current renter expectations. Restaurant density is relatively strong locally (metro-competitive rank), while everyday retail like groceries, pharmacies, parks, and cafes is limited within the immediate neighborhood footprint; residents often rely on nearby corridors for these needs.
Safety metrics in this neighborhood trend below metro averages (crime rank 64 of 114), and national comparisons indicate lower-than-average safety levels. However, recent data shows year-over-year declines in violent offenses, a constructive directional trend for long-term operations and resident retention.
Investors should underwrite with prudent assumptions ighting, access control, and security-aware site design and track submarket trends rather than block-level variation. Directional improvement helps, but policy, enforcement, and neighborhood activation will continue to shape outcomes over time.
This 100-unit Gainesville asset benefits from a high neighborhood renter concentration and improving occupancy, supporting day-to-day leasing stability. Based on CRE market data from WDSuite, neighborhood rents benchmark competitively within the metro, while a growing 3-mile population and household base points to a larger tenant pool over the medium term. The 1996 vintage is slightly newer than the neighborhood average, offering relative competitiveness versus older stock; targeted upgrades can further enhance positioning and support rent readiness without relying on outsized premiums.
Balanced underwriting should account for neighborhood safety readings that trail broader benchmarks and for rent-to-income levels that signal affordability pressure for some cohorts. Still, the combination of deep renter demand, upward-trending occupancy, and long-run demographic expansion supports a durable hold with value-add potential focused on interiors, amenities, and operational execution.
- High renter-occupied share supports demand depth and leasing stability
- Neighborhood occupancy improving, with rents competitive within the Gainesville metro
- 1996 vintage provides relative competitiveness; targeted modernization can capture value-add upside
- 3-mile population and household growth expands the tenant base over the medium term
- Risks: below-metro safety readings and affordability pressure require careful rent and retention strategy