| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2900 SW 23rd Ter, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1999 |
| Units | 100 |
| Transaction Date | 2005-02-01 |
| Transaction Price | $11,593,600 |
| Buyer | ACC OP UC GAINESVILLE LLC |
| Seller | UNIVERSITY CLUB APARTMENTS OF GAINESVILL |
2900 SW 23rd Ter Gainesville Multifamily Investment
High renter concentration in the surrounding neighborhood and strong everyday amenities support steady tenant demand, according to WDSuite’s CRE market data. Focus is on neighborhood dynamics around the property, not the asset’s own occupancy.
Located in Gainesville’s inner suburb, the area around 2900 SW 23rd Ter benefits from dense daily-needs access. Neighborhood amenity density scores competitively versus many U.S. locations, with particularly strong proximity to grocery and dining options. This convenience profile can help reduce resident friction and support lease retention for multifamily assets serving workforce and student-adjacent renters.
Neighborhood renter-occupied share is high (measured for the neighborhood, not the property), indicating a deep local tenant base. Median contract rents in the neighborhood sit near national mid-range levels, while the rent-to-income ratio suggests some affordability pressure; owners typically manage this with thoughtful renewals and amenity-value positioning to sustain occupancy.
Amenity mix stands out: the neighborhood ranks among the stronger Gainesville sub-areas for cafes, grocery, pharmacies, and restaurants by density, while park access is limited. For investors, this translates to daily convenience and service coverage that can bolster appeal, even as limited green space may put more emphasis on on-site outdoor areas or nearby private amenities.
Within a 3-mile radius, demographics skew toward ages 18–34, with recent population and household growth and further expansion projected. This points to a larger tenant pool over time and supports leasing velocity for well-positioned apartments. Compared with national CRE trends, the neighborhood’s mix of younger residents and ongoing household growth can underpin steady absorption, though lease management remains important where incomes trail national medians.
Safety indicators for the neighborhood compare below national averages, based on national percentile readings where higher percentiles indicate safer conditions. Property and violent offense percentiles are low versus neighborhoods nationwide, suggesting investors should underwrite conservative security and operational practices and monitor trend direction over time rather than relying on short-term variations.
Relative standing is assessed at the neighborhood level within the Gainesville metro and nationally; investors often address this context with lighting, access controls, and resident engagement, and by emphasizing the area’s proximity to services and employment that can support resident stability.
Built in 1999, the property is slightly newer than the average neighborhood vintage, which can offer a competitive edge versus older stock while still leaving room for targeted modernization as systems age. The neighborhood’s high renter-occupied share and strong daily-needs access (grocery, dining, pharmacies) support durable demand and resident convenience. At the neighborhood level, occupancy runs below many U.S. areas, so operators may prioritize renewal strategies and marketable upgrades to sustain leasing, according to CRE market data from WDSuite.
Within a 3-mile radius, population and household counts have grown and are projected to expand further, with a large 18–34 cohort that broadens the renter pool. Neighborhood ownership costs are relatively accessible compared with many U.S. markets, which can introduce some competition from entry-level ownership; however, the area’s renter orientation and amenity density help sustain multifamily demand. Rent-to-income levels indicate affordability pressure that should be reflected in pricing, amenity positioning, and renewal tactics.
- 1999 construction offers competitive positioning versus older stock, with selective modernization potential.
- High neighborhood renter-occupied share and strong daily-needs amenities support leasing and retention.
- 3-mile radius shows population and household growth, expanding the renter pool over time.
- Pricing power should consider rent-to-income pressures; focus on renewals and value-forward upgrades.
- Risk: Neighborhood safety indicators and below-average occupancy require proactive operations and underwriting.