| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 28th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3461 SW 2nd Ave, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1972 |
| Units | 100 |
| Transaction Date | 2016-10-20 |
| Transaction Price | $1,312,500 |
| Buyer | GATOR APARTMENT INVESTORS LLC |
| Seller | WESTON SQUARE APARMENTS LLC |
3461 SW 2nd Ave Gainesville Multifamily Opportunity
Renter demand is supported by a high concentration of renter-occupied housing in the surrounding area and proximity to daily amenities, according to WDSuite’s CRE market data. Neighborhood occupancy has softened, so lease-up and retention discipline will be important to capture demand.
Situated in an Inner Suburb location of Gainesville, the neighborhood earns an A- rating and ranks 23 out of 114 metro neighborhoods — a top quartile position that signals competitive fundamentals versus many local peers. Amenity access is a strength: restaurants and cafes score in the mid-80s nationally by percentile, and parks and pharmacies also place above the national median, supporting day-to-day convenience that helps leasing and retention.
Rents in the neighborhood have risen meaningfully over the past five years, and the area’s renter-occupied share is elevated (ranked 13 of 114), indicating a deep tenant base for multifamily product. At the same time, the neighborhood’s occupancy rate ranks 103 of 114, suggesting some softness relative to the metro; properties with active management and targeted upgrades can differentiate to stabilize performance.
Within a 3-mile radius, population has grown while household counts increased at a faster pace, pointing to a larger tenant base and gradual shifts toward smaller household sizes over time. Forecasts in WDSuite’s data point to continued growth in households, which can support absorption and occupancy stability for well-positioned assets.
Ownership remains relatively costly compared with local incomes (value-to-income ratio ranks 9 of 114 and sits in the top quintile nationally), which reinforces reliance on rental housing and can sustain depth of demand. Rent-to-income levels indicate some affordability pressure for residents, a consideration for lease management and renewal strategies.
The property’s 1972 vintage is older than the neighborhood’s average construction year (1985). For investors, this highlights potential value-add and capital planning opportunities — modernizing interiors, systems, and curb appeal to enhance competitive positioning against newer stock.
Safety indicators for this neighborhood trail national averages, with both violent and property offense rates in lower national percentiles. Within the Gainesville metro, the area’s crime rank sits in the lower half among 114 neighborhoods, indicating higher incident rates than many peers. Investors should underwrite appropriate security measures and operating practices.
Trend-wise, WDSuite’s data show improvement over the last year — property offenses declined materially and violent offenses eased — suggesting conditions have been moving in a better direction recently. Monitoring momentum and block-level variations over time can help align operating budgets and resident experience with current patterns.
This 100-unit asset in Gainesville benefits from a deep renter pool, strong amenity access, and neighborhood positioning in the top quartile of metro peers. While neighborhood occupancy has been comparatively soft, a sizable concentration of renter-occupied units and continued household growth within a 3-mile radius support demand resilience for well-managed properties. According to CRE market data from WDSuite, ownership costs are elevated relative to incomes locally, which can reinforce reliance on multifamily housing and help sustain leasing depth.
Built in 1972, the property is older than the neighborhood average vintage, pointing to clear value-add potential through unit and systems modernization. Execution risk centers on stabilizing occupancy and navigating safety perceptions; however, recent improvements in offense trends and targeted operational focus can mitigate downside while positioning the asset to capture renter demand.
- Deep renter base and growing households within 3 miles support absorption and retention
- Amenity-rich Inner Suburb location with top-quartile neighborhood ranking among 114 metro areas
- 1972 vintage offers value-add and capital planning avenues to enhance competitiveness
- Elevated ownership costs versus incomes reinforce multifamily demand and leasing depth
- Risks: softer neighborhood occupancy and below-average safety metrics require proactive management