| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 47th | Good |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3301 SW 13th St, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1972 |
| Units | 100 |
| Transaction Date | 2002-03-27 |
| Transaction Price | $7,150,000 |
| Buyer | SOUTHWEST 13TH STREET APARTMENTS LLC |
| Seller | OAK FOREST ASSOCIATES LLC |
3301 SW 13th St Gainesville Multifamily Opportunity
Neighborhood fundamentals point to durable renter demand and rising occupancy at the area level, according to WDSuite’s CRE market data, with elevated home values in the submarket helping sustain multifamily reliance. These signals suggest stable tenant depth rather than outsized rent risk, based on neighborhood metrics rather than the property itself.
Situated in Gainesville’s inner suburb fabric, the neighborhood ranks in the top quartile among 114 metro neighborhoods overall, indicating competitive livability and investment appeal at the local scale. Grocery and pharmacy access test strong versus the metro and compare well nationally, while parks, cafes, and childcare are less dense—an amenity mix that supports daily convenience even if lifestyle offerings are more limited nearby.
Multifamily dynamics are supportive: neighborhood occupancy has trended upward over the past five years, and the share of renter-occupied housing units is high, signaling depth in the tenant base and potential leasing stability. Median contract rents at the neighborhood level sit modestly above national midpoints with multi‑year growth, reinforcing steady demand without pointing to overheating.
Demographic statistics aggregated within a 3‑mile radius show a sizable young‑adult cohort and continued population and household growth projected over the next five years, which translate into a larger renter pool and support for occupancy and leasing velocity. Income levels in the immediate area span a wide range; paired with a high‑cost ownership market locally, this context tends to sustain demand for professionally managed rentals and can aid retention for well‑positioned assets.
Vintage matters for underwriting: built in 1972, the asset is older than the neighborhood’s average construction year. Investors should plan for capital expenditures tied to building systems and potential renovations; in return, the vintage may offer value‑add and repositioning upside relative to newer competitive stock.
Neighborhood safety compares below national averages, with crime levels that are not among the stronger cohorts nationally. Within the Gainesville metro, the area sits below the metro median for safety among 114 neighborhoods. Recent neighborhood data indicate modest year‑over‑year declines in both property and violent offenses, a constructive near‑term trend to monitor rather than a resolved risk. Investors should assess on‑site security, lighting, and property management practices as part of risk management.
3301 SW 13th St benefits from a renter‑oriented neighborhood where occupancy has improved over the last five years and renter concentration is high, supporting leasing stability. Elevated home values at the neighborhood level indicate a high‑cost ownership market, which typically sustains reliance on multifamily housing and can bolster pricing power for well‑maintained assets. According to CRE market data from WDSuite, local benchmarks such as neighborhood NOI per unit rank among the stronger cohorts in the metro, underscoring income potential at the submarket level.
The property’s 1972 vintage suggests a clear value‑add pathway through systems upgrades and interior modernization to compete with newer stock. Daily‑needs accessibility (notably grocery and pharmacy density) aligns with resident convenience, while limited park and cafe density nearby may call for on‑site amenity programming to support retention.
- Renter‑heavy neighborhood and improving occupancy support depth of tenant demand
- High‑cost ownership landscape reinforces reliance on rentals and potential pricing power
- Older 1972 vintage offers value‑add potential via renovations and systems upgrades
- Strong daily‑needs access (grocery, pharmacy) supports resident convenience and retention
- Risk: Safety metrics sit below national averages; active management and site improvements are important