| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3650 SW 20th Ave, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1979 |
| Units | 100 |
| Transaction Date | 2009-08-13 |
| Transaction Price | $500,000 |
| Buyer | 20TH AVENUE INVESTMENTS LLC |
| Seller | GOMEZ PROPERTY MANAGEMENT LLC |
3650 SW 20th Ave Gainesville Multifamily Investment
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting a deep tenant base and consistent leasing, according to WDSuite’s CRE market data. Neighborhood occupancy is measured at the neighborhood level, not the property, and points to steady demand with room for operational upside.
This Inner Suburb location is competitive among Gainesville neighborhoods (ranked 2 out of 114 overall with an A+ neighborhood rating), offering strong day-to-day convenience and a broad renter pool. Grocery, restaurant, and pharmacy access ranks near the top of the metro (each among the best 3–3 positions out of 114), while parks are also readily accessible. Cafés are abundant relative to the metro, though formal childcare options are limited within the immediate neighborhood.
Neighborhood metrics indicate a high renter concentration: a large share of housing units are renter-occupied, which supports multifamily demand depth and leasing velocity. Neighborhood occupancy is moderate for the metro, suggesting stable operations with potential for revenue management and targeted marketing to lift performance. The area’s NOI per unit levels are competitive among Gainesville neighborhoods and sit in the upper tiers nationally, reinforcing the viability of workforce-oriented product.
Within a 3-mile radius, recent population growth and a notable increase in households point to a larger tenant base over time, with forecasts calling for continued renter pool expansion as household counts rise and average household sizes trend smaller. For investors, this dynamic favors sustained occupancy and consistent absorption of renovated units. Median home values are lower than many U.S. neighborhoods, but ownership remains a high-cost proposition relative to local incomes (high national value-to-income standing), which tends to reinforce reliance on rental housing and can support pricing power with careful lease management.
The property’s 1979 vintage is older than the neighborhood’s average construction year (mid-1990s), implying capital planning needs and potential value-add upside. Targeted renovations and system updates can enhance competitive positioning versus newer stock while capturing demand from the sizable renter base drawn by the location’s amenity density and access to services.
Neighborhood safety benchmarks sit around the metro median based on rank among 114 Gainesville neighborhoods. Compared with neighborhoods nationwide, safety indicators are below national averages; however, both violent and property offense rates have posted double-digit year-over-year declines, signaling an improving trend. Investors should underwrite prudent security measures and active management while recognizing the directional improvement.
This 100-unit, 1979-vintage asset benefits from a high-renter neighborhood with strong daily conveniences and competitive NOI performance at the neighborhood level. The surrounding area shows steady neighborhood occupancy alongside abundant amenities, supporting tenant retention. Based on CRE market data from WDSuite, the broader context includes rising household counts within a 3-mile radius and a high-cost ownership landscape relative to incomes, both of which tend to sustain multifamily demand and support occupancy stability.
The older vintage versus the neighborhood’s mid-1990s average underscores a clear value-add path: interior upgrades, common-area enhancements, and system improvements can position the property competitively against newer product. With a large renter-occupied housing share nearby and ongoing renter pool expansion, well-executed renovations and disciplined lease management can translate into durable cash flow, while underwriting should account for neighborhood safety considerations and affordability pressures on residents.
- High renter concentration in the neighborhood supports depth of demand and leasing stability.
- Amenity-rich location (grocery, dining, pharmacies, parks) enhances retention and rentability.
- 1979 vintage offers value-add potential to compete with newer stock in the submarket.
- 3-mile demographics point to renter pool expansion, supporting occupancy over time.
- Risks: neighborhood safety sits below national averages and rent-to-income pressures require careful lease and renewal management.