| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3527 SW 20th Ave, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 2002 |
| Units | 100 |
| Transaction Date | 2005-03-28 |
| Transaction Price | $47,500,000 |
| Buyer | WEST 20 OWNER LLC |
| Seller | WEST 20 APARTMENTS LLC |
3527 SW 20th Ave Gainesville Multifamily Investment
Positioned in an Inner Suburb pocket with strong renter demand and amenity density, this 2002-vintage asset benefits from a deep tenant base and competitive positioning, according to WDSuite s CRE market data.
The property sits in a Gainesville Inner Suburb neighborhood rated A+ and ranked 2 out of 114 in the metro, signaling competitive fundamentals for multifamily. Amenity access is a clear strength: grocery and restaurant density ranks near the top of Gainesville (each within the top three of 114 neighborhoods) and is in the top quartile nationally, supporting day-to-day convenience and leasing appeal.
Renter-occupied housing is a dominant tenure pattern here, with an 80.6% renter concentration that stands among the highest in the nation (99th percentile). For investors, this indicates a sizable and durable tenant pool. Neighborhood occupancy is 88.1%, suggesting generally stable leasing conditions with some room for active lease management to optimize performance.
Within a 3-mile radius, demographics skew younger with a large 18 34 population share, and the area has seen population and household growth in recent years with additional gains projected by 2028. This points to a larger tenant base over time and supports occupancy stability for well-positioned assets.
Ownership economics provide context for rental demand. Even with modest headline home values, the neighborhood s value-to-income ratio sits in a high national percentile, indicating a high-cost ownership market relative to local incomes. That tends to reinforce reliance on rental housing and can support pricing power. At the same time, rent-to-income metrics indicate affordability pressure for some renter segments, warranting prudent lease management and renewal strategies.
Relative operating performance is also competitive: neighborhood NOI per unit ranks 3 out of 114 locally (top quartile nationally), underscoring solid property-level income potential when assets are well-operated.
Safety metrics for the neighborhood are mixed. Compared with neighborhoods nationwide, reported violent and property offense rates place the area in low national percentiles, indicating below-average safety conditions. Within the Gainesville metro, the neighborhood s crime rank (53 out of 114) sits near the metro midpoint, making it competitive among some submarkets but not a top performer on this dimension.
Recent trend data shows improvement, with year-over-year declines in both violent and property offenses. For investors, the directional trend is constructive, but underwriting should account for local safety perceptions and continue to focus on property-level measures that support resident retention.
Built in 2002, the asset is newer than the neighborhood average (1995), offering competitive positioning versus older stock while allowing for targeted modernization as systems age. The surrounding neighborhood ranks 2 of 114 in Gainesville with top-quartile national standing for amenities and NOI per unit, signaling healthy fundamentals for workforce and student-oriented demand. According to CRE market data from WDSuite, renter concentration is among the nation s highest, and demographic trends within a 3-mile radius point to a growing tenant base that can support occupancy stability for well-operated assets.
Balanced underwriting should note moderate neighborhood occupancy and below-national safety benchmarks alongside strong amenity access and reinforced rental reliance from ownership economics. Execution that prioritizes leasing discipline and resident experience can capture the submarket s demand while managing affordability and retention risk.
- Newer 2002 vintage vs. local average, with potential for targeted modernization
- A+ neighborhood ranked 2/114 in Gainesville with top-quartile national amenity access
- Deep renter pool (high renter-occupied share) and expanding 3-mile tenant base support leasing
- Risks: affordability pressure and below-national safety benchmarks require active lease and retention management