| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3643 SW 20th Ave, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1978 |
| Units | 100 |
| Transaction Date | 2022-08-16 |
| Transaction Price | $4,019,300 |
| Buyer | SKYWOOD PARK LLC |
| Seller | ARP SW 20TH AVENUE LLC |
3643 SW 20th Ave Gainesville Multifamily Opportunity
Renter demand in the neighborhood is deep and amenity access is strong, according to WDSuite’s CRE market data, supporting steady leasing for a 100-unit asset. Neighborhood occupancy trends sit below the metro median, making active management and selective value-add key to driving performance.
Located in Gainesville’s inner suburb, the property benefits from a high concentration of daily conveniences. The neighborhood ranks 6th of 114 Gainesville neighborhoods for overall amenities and sits in the 75th percentile nationally, with especially dense access to groceries, pharmacies, and dining—competitive among Gainesville neighborhoods and favorable for resident retention.
Dining and essentials are a local strength: restaurant, grocery, and pharmacy density ranks near the top of 114 metro neighborhoods and in the mid- to high-90s percentiles nationally. This level of proximity typically supports leasing velocity and reduces drive-time friction for residents—an advantage for workforce and student-oriented renter segments.
The neighborhood’s renter-occupied share is among the highest in the metro (ranked 1st of 114), indicating a deep tenant base and reinforcing multifamily demand. However, the neighborhood occupancy rate is below the metro median (ranked 68th of 114), so operational focus on renewals and pricing discipline will matter more than in tighter submarkets.
Construction in the surrounding area skews newer than this asset (average 1995 vs. property vintage 1979). For investors, the older vintage suggests potential capital planning for interiors and systems, with an opportunity to reposition against newer competitive stock if upgrades are well targeted.
Within a 3-mile radius, population has expanded and households have grown faster than population, pointing to a larger renter pool over time. Forecasts through 2028 indicate continued population growth and a substantial rise in households, which should support occupancy stability and leasing demand for well-managed assets.
Ownership costs in the neighborhood are relatively high versus local incomes (high national value-to-income percentile), which tends to sustain reliance on rental housing. At the same time, rent-to-income levels signal affordability pressure; investors should emphasize unit mix, renewal strategy, and amenity positioning to support retention while managing concessions.
Safety indicators in this neighborhood trail many areas nationwide (low national safety percentiles), and the neighborhood ranks in the less favorable half of the 114 Gainesville neighborhoods for crime. That said, recent trend data shows year-over-year declines in both violent and property offenses, suggesting incremental improvement rather than deterioration.
Investors should underwrite conservative security provisions and community programming, and monitor citywide and neighborhood trends over time. Use comparative framing—site-level controls, lighting, and property management practices can meaningfully influence resident experience even where broader area metrics lag regional averages.
The broader Gainesville employment base provides varied service, healthcare, education, and retail jobs that support renter demand and practical commute times. Proximity to these clusters can aid leasing durability for workforce and student renters.
3643 SW 20th Ave offers scale at 100 units in a renter-heavy Gainesville neighborhood with strong amenity access and consistent daily-needs proximity. While neighborhood occupancy trends are below the metro median, the tenant base is deep, and population and household growth within 3 miles point to ongoing renter pool expansion. According to CRE market data from WDSuite, surrounding stock averages newer construction, positioning this 1979-vintage asset for targeted value-add to compete on finishes and functionality.
Home values relative to incomes indicate a high-cost ownership landscape locally, which tends to sustain reliance on multifamily housing. At the same time, rent-to-income dynamics call for disciplined lease management and renewal strategies. Execution focus—operational efficiency, selective renovations, and amenity alignment—should be central to driving occupancy stability and NOI.
- Renter-heavy neighborhood supports deep tenant demand and leasing durability.
- Amenity-rich location (groceries, dining, pharmacies) aids retention and reduces commute friction.
- 1979 vintage presents value-add potential to compete against newer nearby stock.
- Household and population growth within 3 miles supports occupancy stability over the medium term.
- Risks: below-metro-median neighborhood occupancy, affordability pressure, and area safety metrics require disciplined operations.