| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 41st | Fair |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2510 NE 9th St, Gainesville, FL, 32609, US |
| Region / Metro | Gainesville |
| Year of Construction | 1992 |
| Units | 100 |
| Transaction Date | 2013-10-11 |
| Transaction Price | $2,650,000 |
| Buyer | FLORIDA HOMES 3 LLC |
| Seller | U S BANK NATIONAL ASSOCIATION |
2510 NE 9th St Gainesville Multifamily Investment
Stable neighborhood occupancy and a solid renter base point to durable lease-up and retention, according to WDSuite s CRE market data. The location offers everyday convenience with grocery access and commuter connectivity, supporting consistent renter demand.
This Inner Suburb pocket of Gainesville ranks competitive among 114 metro neighborhoods for overall neighborhood quality, with everyday convenience anchored by strong grocery and restaurant density. Cafe, park, and pharmacy options are thinner locally, so residents rely more on nearby corridors for those needs, but essential retail is close enough to support day-to-day living.
Neighborhood occupancy is strong and above metro medians, supported by a renter-occupied housing share around the mid-40s that signals a meaningful tenant base for multifamily. Median contract rents in the area have outpaced many peer neighborhoods over the last five years, indicating pricing power where product quality and management execution are aligned.
Within a 3-mile radius, demographics skew young—over half of residents are ages 18–34—and both population and household counts have expanded, pointing to a larger tenant pool and steady demand for rental units. Household incomes have also moved up over time, helping mitigate affordability pressure and supporting lease retention and renewal velocity.
Home values locally are below many national peers, which can create some competition with entry-level ownership, yet the combination of rising incomes and healthy occupancy supports continued renter reliance on multifamily housing. Average school ratings trail broader benchmarks, so family-oriented demand may be more selective, but proximity to services and employment still underpins leasing stability.
Safety indicators for this neighborhood track below both national and metro averages, and the area does not rank in the top half among the 114 Gainesville neighborhoods. That said, recent trends show year-over-year improvements in both property and violent offense rates, suggesting conditions have been moving in a favorable direction.
Investors should underwrite prudent security and operational practices (lighting, access controls, and vendor coordination) and consider how safety perceptions may influence unit absorption and renewal strategy. Monitoring ongoing trend data will be important to confirm that recent improvements persist.
Built in 1992, this 100-unit asset offers relatively newer vintage versus much of the area s older stock, positioning it competitively while still leaving room for targeted modernization of systems and finishes. Strong neighborhood occupancy and a meaningful renter concentration support demand stability, and larger average floorplans (about 1,140 sq ft) can help capture tenants seeking more space, aiding retention.
According to CRE market data from WDSuite, the surrounding neighborhood shows healthy rent performance and solid daily-needs access, with demographic momentum within a 3-mile radius expanding the renter pool. While school ratings and safety metrics warrant conservative underwriting, the combination of steady occupancy, everyday convenience, and value-add potential creates a balanced, long-term thesis.
- 1992 vintage offers competitive positioning vs. older local stock, with selective renovation upside
- Strong neighborhood occupancy and sizable renter base support leasing durability
- Larger average unit size (~1,140 sq ft) enhances appeal and renewal potential
- Demographic growth within 3 miles expands the tenant pool and supports rent collections
- Risk: Safety and school-rating headwinds require prudent management, marketing, and underwriting