| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 56th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2841 SW 37th Pl, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1990 |
| Units | 100 |
| Transaction Date | 2000-08-21 |
| Transaction Price | $1,069,800 |
| Buyer | 36 INVESTMENTS INC |
| Seller | --- |
2841 SW 37th Pl Gainesville Multifamily Investment
Neighborhood occupancy has trended upward in recent years and renter demand is deep in this Urban Core pocket, according to WDSuite's CRE market data. These dynamics point to stable leasing conditions at the neighborhood level, with pricing shaped by value-oriented renters rather than luxury positioning.
The property sits in a B+ rated, Urban Core neighborhood that is competitive among Gainesville neighborhoods (ranked 42 out of 114). Local fundamentals skew toward workforce renters, with the surrounding blocks showing an above-median rent level within the metro and improving occupancy at the neighborhood scale. Restaurants are present nearby, while immediate access to groceries, parks, pharmacies, and cafes is limited, suggesting residents may rely on short drives for daily needs.
Renter-occupied housing is notably concentrated here, creating a large tenant base for multifamily assets. The renter concentration ranks 6 out of 114 Gainesville neighborhoods, indicating one of the higher renter shares in the metro and supporting depth of demand for lease-up and renewals. Median contract rents in the neighborhood track above the metro median, while home values are lower relative to national norms, a combination that tends to favor sustained reliance on rental options over homeownership for many households.
Within a 3-mile radius, population and household counts have grown over the past five years and are projected to expand further by 2028, signaling a larger tenant pool and support for occupancy stability. Household sizes have adjusted gradually, and the mix remains weighted toward younger adults, consistent with Gainesville's university-anchored profile. These trends align with investor expectations for steady unit absorption at attainable rent points; based on multifamily property research from WDSuite, demand is likely to remain service- and education-driven rather than luxury-led.
The asset's 1990 vintage is slightly older than the area's average construction year, which may point to selective value-add opportunities (interiors, systems, and common areas) to maintain competitiveness against newer product. Given modest amenity density in the immediate blocks, on-site features and management execution can play an outsized role in retention and achievable effective rents.
Safety metrics for the neighborhood are below national benchmarks, with WDSuite's data indicating higher reported incident rates than many areas nationwide. Within the Gainesville metro, the neighborhood's crime positioning sits below the metro average (crime rank 64 out of 114), though recent trends show a year-over-year decline in violent incidents, which is a constructive signal to monitor over upcoming leasing cycles.
For investors, the practical takeaway is to underwrite proactive security measures and resident engagement as part of operating plans. Monitoring continued improvement and comparable submarkets across Gainesville can help calibrate marketing, screening, and retention strategies to sustain occupancy and stabilize effective rents.
Major employer records with verified distances are not available for this address context. Investors typically see demand supported by education, healthcare, and service-sector employment in Gainesville; confirm proximity and commute times during diligence to assess leasing depth and retention.
This 100-unit multifamily asset at 2841 SW 37th Pl is embedded in a renter-heavy Urban Core pocket with improving neighborhood occupancy and rents that sit above the metro median. According to CRE market data from WDSuite, renter concentration is among the highest in Gainesville, reinforcing demand depth for workforce-oriented units and supporting lease renewal prospects even as residents are price-sensitive.
Built in 1990, the property is slightly older than nearby stock, which can create value-add potential through targeted interior updates and modernization of building systems to remain competitive. Nationally lower home values in the area help sustain reliance on rentals, while neighborhood affordability pressure argues for careful rent setting, amenities that enhance retention, and expense control to protect NOI.
- Renter-heavy neighborhood supports a deep tenant base and steady renewal prospects.
- Neighborhood occupancy has improved, reinforcing leasing stability at attainable rents.
- 1990 vintage offers selective value-add opportunities to keep pace with newer stock.
- Lower local home values bolster rental reliance, aiding demand consistency.
- Risks: below-average safety metrics and amenity scarcity nearby require active management and thoughtful resident services.