| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 47th | Good |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2701 SW 13th St, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1984 |
| Units | 100 |
| Transaction Date | 2004-12-15 |
| Transaction Price | $11,390,000 |
| Buyer | BOARDWALK APARTMENT GAINESVILLE LLC |
| Seller | BOARDWALK 13TH LP |
2701 SW 13th St Gainesville Multifamily Investment Opportunity
Deep renter demand and stable neighborhood occupancy support durable income potential, according to WDSuite’s CRE market data. Elevated ownership costs in the area further reinforce reliance on multifamily housing.
Positioned in Gainesville’s inner suburb context, the property benefits from a neighborhood rated A- and ranked 19 out of 114 metro neighborhoods—competitive among Gainesville neighborhoods. Grocery and pharmacy access are strengths (each ranked within the top 12 of 114), supporting day-to-day livability and convenience for residents.
Construction in the surrounding neighborhood skews to the late-1980s on average (1987). With a 1984 vintage, the asset is slightly older than nearby stock—an indicator for investors to plan targeted capital programs or value-add renovations to sharpen competitive positioning while leveraging existing demand drivers.
Renter-occupied housing is a defining feature locally: the neighborhood’s renter concentration is very high, signaling a deep tenant pool and robust leasing funnel for multifamily assets. Neighborhood occupancy has trended upward over the last five years, supporting expectations for income stability relative to more volatile submarkets.
Within a 3-mile radius, population and households have expanded over the past five years, and forecasts point to continued growth. This translates to a larger tenant base and supports absorption and renewal potential. The area’s elevated home values relative to incomes suggest a high-cost ownership market, which tends to sustain rental demand and can aid pricing power when managed alongside retention strategies and affordability monitoring informed by multifamily property research.
Safety indicators in this neighborhood are mixed. Compared with Gainesville’s 114 neighborhoods, the area sits around the middle of the pack for crime, and national comparisons indicate below-average safety levels. However, recent trends show incremental improvement, with both property and violent offense rates easing year over year. For investors, this implies a need for standard risk controls (lighting, access management, resident engagement) while recognizing that the local trajectory has been modestly improving.
The 1984-vintage, 100-unit asset at 2701 SW 13th St is positioned in a Gainesville neighborhood with a high concentration of renter-occupied units and improving occupancy trends—factors that generally support income durability and leasing velocity. Elevated home values relative to local incomes indicate a high-cost ownership market that sustains renter reliance on multifamily. According to CRE market data from WDSuite, daily-needs access (notably groceries and pharmacies) is a local strength, adding to renter convenience and retention potential.
Relative to the neighborhood’s late-1980s average vintage, this property’s 1984 construction suggests planning for selective capital improvements or value-add scope to enhance competitiveness. Demographic data aggregated within a 3-mile radius shows growth in population and households, pointing to a larger renter pool over time. Balanced against these positives, safety metrics trail national benchmarks, and rent-to-income dynamics call for thoughtful lease management to maintain retention while capturing revenue growth.
- High renter concentration and positive occupancy trajectory support leasing stability
- Elevated ownership costs reinforce sustained multifamily demand and pricing power
- Daily-needs proximity (groceries, pharmacies) enhances resident convenience and retention
- 1984 vintage offers value-add and targeted capex opportunities versus late-1980s neighborhood stock
- Risks: safety metrics below national averages and affordability pressure require prudent lease and OpEx management