| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3006 SW 23rd St, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1975 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3006 SW 23rd St Gainesville Multifamily Investment
Renter concentration in the surrounding neighborhood supports a deep tenant base, while current occupancy trends signal the need for active lease management, according to WDSuite s CRE market data. Investors should weigh value-add potential at this location against local affordability pressures and competition from nearby rentals.
This Inner Suburb neighborhood is rated A and ranks 11 out of 114 within the Gainesville metro, placing it in the top quartile locally. The area is highly amenitized for daily needs with grocery, pharmacy, cafes, and restaurants ranking near the top of the metro which supports leasing convenience and retention. Park access is limited (ranked 114 of 114), so on-site amenities can be a differentiator for resident appeal.
Occupancy in the neighborhood averages 80.8%, which sits below national comparisons (19th percentile), underscoring the importance of competitive positioning and proactive management to sustain leasing velocity. At the same time, the neighborhood has a high share of renter-occupied housing (approximately three-quarters, ranking 5 of 114), indicating depth in the tenant pool and durable multifamily demand.
Within a 3-mile radius, demographics indicate a large 18 to 3 cohort and growth in both population and households over the last five years, with projections calling for continued increases and smaller average household sizes. For investors, that combination points to a larger tenant base and steady absorption potential for efficiently sized units, supporting occupancy stability for well-managed assets.
Home values in the neighborhood trend below many U.S. areas (27th percentile nationally). While ownership is relatively more accessible than in high-cost markets, the local rent-to-income ratio is elevated, which calls for disciplined pricing and renewal strategies to balance occupancy with rent growth. Vintage also matters here: the property s 1976 construction is older than the neighborhood average (1994), suggesting value-add and capital planning opportunities to improve competitive standing against newer stock.
Relative to neighborhoods nationwide, safety indicators here rank in lower national percentiles, meaning reported crime is higher than in many U.S. neighborhoods. Compared with the Gainesville metro, this area is not among the strongest on safety metrics; investors should factor this into marketing, security planning, and tenant retention tactics.
Recent direction is mixed: estimated property offenses have edged down year over year, while estimated violent offenses ticked up. These are neighborhood-level signals rather than property-specific conditions, and trends can vary by block and over time. Owners typically address this through lighting, access control, and coordination with local resources as part of standard operating procedures.
This 100-unit property at 3006 SW 23rd St combines scale with a renter-heavy neighborhood that ranks in the top quartile within the Gainesville metro. According to CRE market data from WDSuite, neighborhood occupancy runs below national benchmarks, so execution will matter; however, household growth within a 3-mile radius and a large 18 to 3 renter pool support demand for smaller, efficiently priced units.
Built in 1976, the asset is older than the neighborhood s average vintage, pointing to value-add and capital planning levers to enhance NOI and competitive positioning versus newer product. Elevated rent-to-income levels in the neighborhood argue for careful lease management and renewal strategies, but strong local amenities and renter concentration help underpin leasing fundamentals over the long term.
- Top-quartile neighborhood within Gainesville (rank 11 of 114) supports leasing fundamentals
- Renter-occupied housing share is high, indicating a deep tenant base for multifamily
- 3-mile radius shows growing households and a large 18 to 3 cohort, supporting demand for smaller units
- 1976 vintage offers value-add and capex pathways to improve relative competitiveness
- Risk: Neighborhood occupancy is below national comparisons and safety metrics lag, requiring strong operations and tenant retention tactics