| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 56th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3611 SW 34th St, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1981 |
| Units | 100 |
| Transaction Date | 2012-05-14 |
| Transaction Price | $10,350,000 |
| Buyer | ORLANDO DAKOTA CANYON LLC |
| Seller | HOMESTEAD APARTMENTS LIMITED |
3611 SW 34th St Gainesville Multifamily Investment
Deep renter demand and steady neighborhood occupancy trends point to durable leasing fundamentals, according to WDSuite’s CRE market data. Watch pricing power and retention where rent-to-income runs high, but the area’s renter concentration supports a broad tenant base.
The property sits in Gainesville’s Urban Core, where the neighborhood carries a B+ rating and shows a high share of renter-occupied housing. That renter concentration (competitive at the metro level) indicates a large and reliable tenant base for multifamily operators and can support occupancy stability through cycles, based on CRE market data from WDSuite.
Within a 3-mile radius, demographics skew toward young adults with population growth and a notable increase in households over the past five years, expanding the pool of prospective renters. Forward-looking projections in the same 3-mile radius point to continued population and household gains, which can underpin future leasing velocity and limit downtime between turns.
Neighborhood occupancy is below the metro median among 114 Gainesville neighborhoods but has improved over the last five years, suggesting demand has been firming even as supply adjusts. Median asking rents are above the metro midpoint, while neighborhood rent-to-income ratios are elevated, so operators should balance rent setting with renewal incentives to sustain performance.
Local amenity depth is mixed: restaurant density is comparatively strong among Gainesville neighborhoods, but everyday conveniences like groceries, parks, and pharmacies are thinner within the immediate neighborhood. This tilts the location toward car-reliant routines but remains workable for value-focused renters who prioritize access and price over walkable retail.
Construction year is 1981, earlier than the neighborhood average vintage. For investors, that age profile often translates to targeted capital planning and value-add opportunities—modernizing common areas, unit interiors, and building systems to sharpen competitive positioning against newer stock.
Home values here track lower than national norms, which can create some competition from ownership options. Even so, the area’s high renter-occupied share has supported a deep tenant base, aiding lease-up and renewals when operations and finishes meet local expectations.
Safety indicators for the neighborhood trail national averages, and the area ranks below the metro median among 114 Gainesville neighborhoods. That said, recent trend data shows a year-over-year decline in violent offense rates, indicating improving momentum even if overall levels remain elevated compared with many U.S. neighborhoods.
Investors typically address these dynamics with practical measures—lighting, access control, and visible on-site management—to support resident confidence and retention. Evaluate block-level patterns during due diligence and benchmark against comparable Urban Core assets across the metro for context.
The 1981-vintage, 100-unit asset benefits from a strong renter-occupied presence in the surrounding neighborhood and a young, expanding 3-mile renter pool—factors that support demand depth and lease-up consistency. While neighborhood occupancy sits below the metro median, it has improved over the last five years, and median rents land above the metro midpoint, pointing to potential value-add upside if renovations align with local expectations and retention is actively managed.
Given the older vintage, targeted capex across interiors and building systems can enhance competitive positioning versus newer stock, while amenity-light surroundings suggest focusing on in-property offerings that drive resident satisfaction. Pricing decisions should consider elevated rent-to-income ratios; disciplined renewal strategies can preserve occupancy stability, according to WDSuite’s commercial real estate analysis.
- High renter concentration supports a broad tenant base and stable demand.
- Improving neighborhood occupancy trends bolster near-term leasing confidence.
- 1981 vintage creates clear value-add pathways via interior and systems upgrades.
- Amenity-light environs favor investing in on-site features to drive retention.
- Risk: Elevated rent-to-income ratios call for careful rent growth and renewal management.