| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3436 SW 42nd Ave, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1972 |
| Units | 100 |
| Transaction Date | 2007-01-30 |
| Transaction Price | $800,000 |
| Buyer | BRIANS OASIS LLC |
| Seller | FALLON JOHN H |
3436 SW 42nd Ave Gainesville Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base, while occupancy at the neighborhood level runs softer and rewards active leasing strategy according to WDSuite’s CRE market data.
Located in Gainesville’s inner suburb, the property sits within a neighborhood that rates A and is competitive among Gainesville neighborhoods (11th of 114). Amenity access is a strength: cafés, groceries, and restaurants are dense for the metro and land in the top quartile nationally, which can aid leasing and retention for workforce and student-oriented renters.
The neighborhood’s renter-occupied share is high, indicating strong multifamily demand depth. At the same time, neighborhood occupancy has trended higher over the past five years but remains below metro norms, so underwriting should lean on marketing, renewals, and unit turn efficiency to stabilize performance. Park access is limited locally, which places more weight on on-site features and nearby private amenities when positioning the asset.
Vintage also matters: the asset was built in 1972, while the neighborhood skews newer on average (1990s). Older physical plant typically implies near- to medium-term capital planning for systems, exteriors, and interiors; the flip side is potential value-add through targeted renovations to compete against newer stock.
Within a 3-mile radius, demographics skew younger with a sizable 18–34 cohort and household counts have increased, pointing to a larger tenant base. Median contract rents in the radius have grown, and median home values in the immediate neighborhood are relatively modest versus national benchmarks, which can introduce some competition from ownership but still leaves a large renter pool in place. Rent-to-income metrics suggest some affordability pressure locally, so operators should focus on renewal management and right-sizing unit finishes and amenities to sustain pricing power.
Safety indicators in the neighborhood trend below metro and national averages. Based on WDSuite’s data, the area ranks below the midpoint among 114 Gainesville neighborhoods, and national percentiles indicate comparatively higher crime levels than many U.S. neighborhoods. For context, recent trends are mixed: property offenses show a modest year-over-year improvement, while violent offenses edged higher.
Investors typically account for this with practical measures such as lighting, access control, and resident engagement, which can support retention and leasing in submarkets where safety is a consideration.
This 100-unit Gainesville asset offers exposure to a high renter-occupied neighborhood with strong amenity access, supporting tenant demand and leasing velocity. Neighborhood occupancy has improved over five years yet remains softer than the metro, so the business plan should emphasize marketing, renewal capture, and operational execution. Built in 1972, the property is older than much of the surrounding housing stock, creating clear value-add angles through selective modernization. According to CRE market data from WDSuite, the nearby renter pool is sizable within a 3-mile radius and household counts have been increasing, which supports occupancy stability over the hold.
Balanced against these strengths are affordability pressures and below-average safety readings at the neighborhood level, which call for disciplined rent-setting, tenant retention strategies, and property-level security investments. With the right capital plan and operations, the asset can compete effectively against newer comparables while leveraging the area’s deep renter base.
- High renter concentration supports a deep tenant base and steady leasing
- Strong café, grocery, and restaurant access aids marketing and retention
- 1972 vintage offers value-add potential via targeted renovations
- Neighborhood occupancy improving but below metro norms—requires active lease management
- Risks: below-average safety indicators and local affordability pressure necessitate prudent operations