| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3640 SW 20th Ave, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1984 |
| Units | 100 |
| Transaction Date | 2013-08-30 |
| Transaction Price | $1,485,000 |
| Buyer | GREENWICH GREEN LLC |
| Seller | PINNACLE POINT LLC |
3640 SW 20th Ave Gainesville Multifamily Opportunity
Amenity-rich inner-suburb location with a deep renter base and steady leasing drivers, according to WDSuite’s CRE market data. Neighborhood metrics point to durable demand drivers, though pricing power should be managed alongside local affordability and occupancy dynamics.
This Inner Suburb neighborhood ranks among the very best in the Gainesville metro (A+; competitive at 2 of 114 neighborhoods), reflecting strong location fundamentals for multifamily. Dense daily-needs access stands out — grocery, restaurant, and pharmacy density score in the upper national percentiles — supporting resident convenience and lease retention.
Amenity depth is a clear strength: restaurant, cafe, and grocery concentrations are among the highest in the metro (each ranked near the top of 114), with national standing in the mid‑90th percentiles. These patterns typically correlate with renter stickiness and consistent traffic to well-managed properties.
Renter-occupied share in the neighborhood is very high (around four in five housing units), indicating a large and replenishing tenant pool for multifamily operators. By contrast, neighborhood occupancy is below the metro median, suggesting that operators should emphasize targeted leasing and renewal strategies to maintain stabilized performance.
Within a 3‑mile radius, population has expanded in recent years and households are projected to grow substantially over the next five years, pointing to a larger tenant base and continued renter pool expansion. The area skews younger with a sizable 18–34 cohort, which generally supports sustained demand for smaller formats and well-amenitized multifamily. Elevated value-to-income dynamics locally suggest that ownership costs remain comparatively high versus incomes, which tends to reinforce reliance on rental housing and can aid lease-up velocity and retention for competitively positioned assets.
The property’s 1984 vintage is older than the neighborhood’s average construction year (1995). Investors should underwrite ongoing capital planning and value-add opportunities (exteriors, common areas, and in-unit finishes/systems) to improve competitive positioning versus newer stock while capturing rent premiums where supported.
Safety indicators are mixed. Compared with neighborhoods nationwide, this location sits in lower national safety percentiles, and within the Gainesville metro it tracks around the middle of the pack (approximately mid-range at 53 out of 114 neighborhoods). For investor underwriting, this typically calls for prudent security, lighting, and resident-engagement measures to support retention and stabilize operations.
Recent trend data is directionally positive: estimated violent and property offense rates show year‑over‑year declines, which can help sentiment and leasing if sustained. As always, investors should evaluate property-level history and management practices alongside these neighborhood trends.
Positioned in an A+‑rated, amenity-rich Inner Suburb, the asset benefits from one of Gainesville’s most convenient renter environments and a very high neighborhood share of renter-occupied units. According to CRE market data from WDSuite, nearby services and food/retail density score in top national percentiles, which typically supports leasing velocity and renewal rates. The neighborhood’s occupancy runs below the metro median, so execution will matter — thoughtful leasing, renewals, and targeted upgrades can differentiate well-located assets.
The 1984 vintage is older than the submarket average (1995), creating clear value‑add and capital planning angles to compete with newer stock. Within a 3‑mile radius, population and households are expanding and are projected to grow further, pointing to a larger tenant base and improved demand depth. Elevated rent-to-income conditions in the neighborhood warrant careful pricing and retention strategies but also reflect a high-cost ownership landscape that tends to sustain reliance on rental housing.
- A+ neighborhood positioning with top-tier amenity access supporting demand and retention
- High renter-occupied share indicates deep tenant base for multifamily leasing
- 1984 vintage offers value-add and CapEx levers to enhance competitiveness
- 3‑mile demographics point to population and household growth, expanding the renter pool
- Risks: neighborhood occupancy below metro median and affordability pressure require disciplined pricing and leasing execution