| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3415 SW 39th Blvd, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 2000 |
| Units | 100 |
| Transaction Date | 2007-05-24 |
| Transaction Price | $14,726,400 |
| Buyer | FL NOOK HOLDINGS LP |
| Seller | GATEWAY AT GLADES LLC |
3415 SW 39th Blvd Gainesville Multifamily Investment
Strong renter concentration and amenity access in an inner-suburb location point to durable tenant demand, according to CRE market data from WDSuite. Neighborhood occupancy has trended softer than the metro, suggesting value-add execution and leasing strategy can be meaningful drivers.
The property sits in an Inner Suburb area of Gainesville rated A and ranked 11 out of 114 neighborhoods in the metro, indicating it 19s competitive among Gainesville neighborhoods. Residents benefit from a dense daily-needs ecosystem: grocery and restaurant density are in the top quartile nationally, with cafes and pharmacies also comparing favorably. These amenities support resident convenience and leasing appeal.
Multifamily suitability is reinforced by renter-occupied housing concentration: the neighborhood 19s renter share is among the highest in the metro (ranked 5 of 114), pointing to a deep tenant base that can support occupancy stability. Median contract rents in the area sit near national mid-range levels, while five-year growth has been healthy, framing a backdrop where thoughtful pricing and renewals can sustain performance.
Within a 3-mile radius, demographics show a large 18 34 population share and an increase in households over the past five years, expanding the potential renter pool. Projections indicate additional household growth by 2028, which can support absorption and lease-up velocity if units are positioned correctly. Median household incomes have been rising locally, further underpinning rent collections and potential rent steps when paired with unit quality.
Home values in the neighborhood are lower relative to national levels, which can introduce some competition from entry-level ownership; however, the area s elevated renter concentration and convenience of nearby amenities continue to support multifamily demand. The average construction year in the neighborhood is 1994, while this asset was built in 2000, giving it a modest age advantage versus older stock; investors should still plan for ongoing system updates and selective modernization to stay competitive.
One relative constraint is park access, which trails metro peers. Operators may offset this by emphasizing on-site features and nearby private recreation options to maintain leasing momentum.
Safety indicators for the neighborhood trend below national averages, and the area ranks 73 out of 114 Gainesville neighborhoods for crime, placing it below the metro median. Recent data show property offenses easing slightly year over year, while violent offenses ticked up modestly; both remain less favorable than national percentiles. Investors typically account for this with enhanced security measures and resident engagement to support retention.
This 100-unit, 2000-vintage asset offers scale and larger average floor plans (about 1,287 sq. ft.), positioning it well against older neighborhood stock. The location benefits from strong renter concentration and top-quartile amenity access that support leasing. According to CRE market data from WDSuite, neighborhood occupancy trends trail metro norms, creating room for value-add execution and more active revenue management.
Within a 3-mile radius, household counts have increased and are projected to grow further by 2028, expanding the tenant base and supporting absorption. Lower neighborhood home values can create some ownership competition, but the high share of renter-occupied units and daily-needs proximity underpin steady multifamily demand. Operators should plan for ongoing system updates typical of a 2000 build to maintain competitive positioning and support rent steps.
- Scale and larger unit sizes support family and roommate demand profiles
- High renter-occupied share and strong amenity access bolster leasing appeal
- Occupancy softness versus metro suggests upside via value-add and revenue management
- 2000 vintage offers a modest age advantage vs. neighborhood average; plan for targeted modernization
- Risks: below-median safety metrics and ownership competition require focused retention and positioning