| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2348 SW 34th Pl, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1978 |
| Units | 100 |
| Transaction Date | 1997-07-18 |
| Transaction Price | $75,000 |
| Buyer | TILGHMAN MICHAEL A |
| Seller | TALISMAR APT LTD |
2348 SW 34th Pl Gainesville Multifamily Investment
High renter concentration and strong amenity access suggest durable tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends lag metro norms, so underwriting should emphasize leasing strategy and value-add execution.
The property sits in an Inner Suburb neighborhood that rates competitively within the Gainesville metro (A grade; rank 11 of 114). Amenity density is a notable strength: grocery and restaurant access scores among the top quartile nationally and competitive among Gainesville neighborhoods, supporting day-to-day convenience that can aid leasing and retention.
Renter concentration is high, with a large share of housing units renter-occupied at the neighborhood level. For multifamily owners, this indicates a deep tenant base and steady turnover flow, though it also raises the bar for property management and renewal strategies to maintain occupancy stability versus the metro.
Within a 3-mile radius, demographics skew young (a large 18–34 cohort) with recent growth in both population and households, pointing to renter pool expansion that can support absorption. Looking ahead, projections indicate continued increases in households, which can sustain demand for well-positioned units and reduce exposure to prolonged vacancy.
Home values in the neighborhood sit below national medians, which can introduce some competition from ownership options. Even so, elevated amenity access and a strong renter-occupied base favor multifamily demand, while rent-to-income levels suggest some affordability pressure—calling for disciplined pricing and asset-specific commercial real estate analysis on unit mixes and concessions.
Vintage matters: built in 1978, the asset is older than the neighborhood’s average construction year. Investors should underwrite capital plans for systems, interiors, and common areas; well-executed renovations can improve competitive positioning relative to newer stock while targeting measurable rent and retention impacts.
Safety indicators for the neighborhood trail both metro and national benchmarks, with ranks below the metro median among 114 Gainesville neighborhoods and low national percentiles. This points to a setting where active property-level security, lighting, and access controls can be material to resident satisfaction and leasing.
Recent trends are mixed: estimated property crime has eased year over year, while estimated violent offense ticked up. For investors, the takeaway is to budget for pragmatic mitigation measures and highlight on-site practices in marketing to support perception and resident retention. Comparisons should be made at the neighborhood level; block-by-block conditions can vary.
This 100-unit, 1978-vintage community benefits from a high share of renter-occupied housing in the neighborhood and strong daily-need amenities that support leasing and renewal performance. Occupancy at the neighborhood level trails metro norms, so the investment case centers on hands-on asset management and targeted upgrades to capture demand from a large nearby 18–34 renter cohort and ongoing household growth within 3 miles. Based on CRE market data from WDSuite, the area’s amenity depth and renter base are durable positives, while pricing should reflect rent-to-income conditions.
Execution risk lies in elevating the property’s competitive position versus newer stock. A focused value-add program—systems, interiors, and curb appeal—paired with measured concessions and renewals can improve occupancy stability and retention without overreaching on rents.
- High renter-occupied share supports a deep tenant base and steady demand.
- Strong grocery and restaurant access aids leasing velocity and renewals.
- 1978 vintage offers clear value-add pathways to compete with newer stock.
- Demographic tailwinds within 3 miles point to ongoing renter pool expansion.
- Risk: neighborhood safety and below-metro occupancy require active management, security, and disciplined pricing.