| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2340 SW 32nd Pl, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1975 |
| Units | 100 |
| Transaction Date | 2023-07-27 |
| Transaction Price | $2,400,000 |
| Buyer | PMF GAINESVILLE V LLC |
| Seller | LOVVORN DONNA |
2340 SW 32nd Pl Gainesville Multifamily Investment
Neighborhood metrics indicate a high renter-occupied share that supports a deeper tenant base, according to WDSuite’s CRE market data. Strong everyday amenities nearby further aid leasing velocity and retention for well-positioned units.
Rated A and ranked 11 out of 114 Gainesville neighborhoods, the location is competitive among Gainesville neighborhoods for multifamily investors. Amenity access is a clear strength: restaurants, grocery options, and cafes score in high national percentiles, offering daily convenience that supports leasing and renewal prospects. The trade-off is limited park access within the immediate area.
The property’s 1975 vintage is older than the area’s average construction year (1994), pointing to potential capital planning for systems, interiors, and curb appeal. For investors, this also presents value-add potential to reposition versus older stock and capture demand from renters seeking turn-key finishes without premium Class A pricing.
Tenure dynamics are favorable for multifamily demand. Neighborhood data shows a very high share of renter-occupied housing (top national percentile), signaling depth in the tenant pool and supporting absorption for a 100-unit asset. However, the neighborhood’s reported occupancy level trends below the metro median, so execution may rely on product differentiation, management, and targeted concessions during lease-up cycles.
Within a 3-mile radius, population and household counts have grown and are projected to expand further, with a large 18–34 cohort that typically leans toward renting—supporting a larger tenant base and ongoing demand for professionally managed units. Paired with steady rent growth in the area, these dynamics suggest opportunities for measured revenue management as renovations enhance competitiveness.
Home values in the neighborhood are relatively modest by national comparison, which can introduce some competition from ownership options. Even so, elevated rent-to-income ratios at the neighborhood level point to affordability pressure that calls for thoughtful lease management and amenity-value alignment rather than aggressive price moves. In short, pricing power is achievable where upgrades and conveniences are clear.
Safety indicators should be assessed with a comparative lens. The neighborhood ranks 73 out of 114 within the Gainesville metro, and national percentiles indicate safety levels below national norms (violent offense and property crime sit in low national percentiles). For investors, this typically translates to the need for proactive site-level measures—lighting, access controls, and visible management—to support resident comfort and retention.
Recent trends are mixed: estimated property offenses declined modestly year over year, while estimated violent offenses increased over the same period. Monitoring local policing initiatives and community partnerships, alongside property-specific security investments, can help stabilize perception and performance over the hold period.
2340 SW 32nd Pl combines a competitive Gainesville neighborhood location with strong daily amenities and a deep renter base, while offering value-add potential due to its 1975 construction. Based on commercial real estate analysis from WDSuite, neighborhood renter concentration is high, helping underpin demand for a 100‑unit asset even as overall neighborhood occupancy trends below the metro median.
Within a 3-mile radius, a large 18–34 population and growing household counts support a larger tenant base and leasing continuity. Amenity density (restaurants, groceries, cafes) enhances day-to-day convenience, while modest neighborhood home values suggest some competition from ownership—reinforcing the need for well-calibrated renovations and resident experience to sustain retention and rent growth over time.
- Deep renter pool and amenity-rich location support leasing and renewals.
- 1975 vintage offers clear value-add and modernization upside versus older stock.
- 3-mile demographics skew young with expanding households, bolstering long-run multifamily demand.
- Pricing power achievable where upgrades and convenience justify rent relative to incomes.
- Risks: neighborhood occupancy below metro median and below-national safety metrics require active management and targeted capital.