| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3515 SW 39th Blvd, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1990 |
| Units | 100 |
| Transaction Date | 2005-02-07 |
| Transaction Price | $10,500,000 |
| Buyer | GREENWICH GREEN APARTMENTS LLC |
| Seller | GREENWICH GREEN INC |
3515 SW 39th Blvd Gainesville Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base, while occupancy has trailed the metro, according to WDSuite’s CRE market data. These occupancy figures reflect the neighborhood, not the property, pointing to potential value-add execution for leasing stability.
The property sits in an inner-suburban Gainesville location with strong daily-needs access. Neighborhood amenities score in the top quartile nationally, with dense coverage of grocery, restaurants, cafes, and pharmacies that enhances renter convenience and supports retention. Within the Gainesville metro, these amenity levels rank competitively versus 114 neighborhoods.
Neighborhood occupancy ranks below the metro median, indicating softer leasing conditions relative to other Gainesville submarkets. For investors, this typically rewards hands-on management, targeted renovations, and sharper marketing to capture demand. The surrounding housing stock skews renter-occupied at a high share, signaling depth in the multifamily tenant pool and helping stabilize demand through cycles.
Demographic statistics aggregated within a 3-mile radius point to a large 18–34 cohort and growth in households, which expands the renter pool and can support absorption over time. Projections indicate continued increases in households alongside smaller average household sizes, a pattern that generally favors multifamily leasing velocity and renewal prospects when properties are appropriately positioned.
Home values in the immediate area are lower relative to many U.S. neighborhoods, which can create some competition from ownership options. At the same time, rent-to-income ratios trend elevated locally, suggesting affordability pressure that calls for disciplined pricing and lease management. Together, these dynamics argue for a durable, workforce-oriented positioning rather than aggressive premiumization.
Constructed in 1990, the asset is slightly older than the area’s average vintage. That typically implies targeted capital expenditures to refresh exteriors, common areas, and unit finishes, unlocking value through repositioning while improving competitive standing against newer stock.
Safety levels in the neighborhood trend below metro averages and below national norms, so investors should underwrite enhanced on-site security, lighting, and access controls. Recent data shows property offenses easing modestly, while violent offenses ticked up year over year, indicating a mixed trend that warrants continued monitoring and operational focus.
Rank comparisons are measured against 114 Gainesville neighborhoods, and national percentiles compare neighborhoods nationwide. Use these as directional context for risk management rather than as block-level predictions.
The investment thesis centers on demand depth from a predominantly renter-occupied neighborhood, robust amenity access, and a growing local renter pool within a 3-mile radius. Although neighborhood occupancy has lagged the metro, targeted value-add and operational execution can improve capture and retention, especially as households expand and smaller household sizes support multifamily demand. Based on CRE market data from WDSuite, the area’s amenity density and renter concentration provide a solid foundation for long-term leasing fundamentals.
The 1990 vintage points to practical renovation and systems planning that can lift competitive positioning without overcapitalizing. Pricing discipline remains important given elevated rent-to-income ratios and neighborhood-level safety considerations; underwriting should reflect enhanced security, pragmatic rent growth, and a focus on durable, workforce-oriented finishes and amenities.
- High renter-occupied share supports a deep tenant base and demand resiliency.
- Amenity-rich inner-suburban location aids retention and everyday convenience.
- 1990 vintage offers value-add potential through targeted renovations and systems updates.
- Household growth within 3 miles expands the renter pool, supporting absorption and occupancy over time.
- Risks: below-metro neighborhood occupancy, elevated rent-to-income ratios, and safety trends require disciplined pricing and security-focused operations.