| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 56th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3700 SW 27th St, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1996 |
| Units | 100 |
| Transaction Date | 2006-01-31 |
| Transaction Price | $38,662,500 |
| Buyer | PRCP-FL GAINESVILLE LLC |
| Seller | LEXINGTON GAINESVILLE ASSOCIATES LLC |
3700 SW 27th St, Gainesville FL Multifamily Thesis
High renter concentration and improving neighborhood occupancy point to durable tenant demand, according to WDSuite s CRE market data.
This Urban Core neighborhood in Gainesville ranks 42 out of 114 locally (B+), indicating competitive fundamentals among peer areas in the metro. Neighborhood occupancy has trended higher in recent years, supporting income stability for professionally managed assets. Median asking rents sit above the metro median (ranked 19 of 114), suggesting solid pricing power relative to nearby submarkets while remaining accessible compared with many U.S. neighborhoods.
The area s housing stock skews slightly newer than the metro average; the subject property s 1997 vintage compares favorably to the neighborhood s typical 1993 construction year. For investors, that positioning can reduce near-term competitive pressure from older assets, though planning for system updates remains prudent as the asset approaches three decades in service.
Renter-occupied housing is a defining feature: the neighborhood s renter concentration ranks 6 out of 114, firmly in the top quartile locally. This depth of renter households translates to a broad tenant base and supports leasing velocity, particularly for well-managed communities. At the same time, the neighborhood s rent-to-income metrics sit weaker on a national basis, indicating some affordability pressure and the need for disciplined lease management to sustain retention.
Within a 3-mile radius, demographics show population and household growth over the past five years, with a large share of residents in the 18 34 age range. This youthful profile expands the renter pool and can support steady occupancy for mid-market apartments. Looking forward, forecasts in the same 3-mile radius point to continuing increases in households alongside a moderation in average household size, which typically sustains multifamily demand through greater household formation and turnover activity.
Local amenity density is mixed: restaurant availability is comparatively strong within the metro (top quartile nationally), while other daily-needs amenities like grocery, parks, and pharmacies are thinner within the immediate neighborhood footprint. For properties with on-site conveniences or strong last-mile access, this can be an opportunity to differentiate and capture renewals.
Safety indicators are mixed and should be evaluated with standard operational controls. The neighborhood s crime rank sits 64 out of 114 Gainesville neighborhoods, which is below the metro median. Compared with neighborhoods nationwide, safety percentiles are lower; however, recent trend data shows a meaningful year-over-year decline in estimated violent offenses, indicating improvement.
Investors typically address this profile with lighting, access control, and community engagement to support resident satisfaction and mitigate turnover risk. Always compare current property-level incident reports and recent comp activity when underwriting.
The investment case centers on renter-demand depth, stable-to-improving neighborhood occupancy, and a 1997 vintage that remains competitive versus older local stock. Based on CRE market data from WDSuite, the area s rents perform above the metro median while the neighborhood maintains a high share of renter-occupied units, supporting a broad tenant base and consistent leasing. Demographic trends within a 3-mile radius point to ongoing population and household growth, reinforcing the renter pipeline.
Key considerations include national-level affordability pressure and a safety profile that trails metro leaders, both manageable with thoughtful rent-setting, value-add scope, and property-level operations. The combination of demand depth and relative vintage can position renovations to drive NOI while maintaining occupancy resilience.
- High renter concentration (top quartile locally) supports a deep tenant base and steady leasing.
- Neighborhood occupancy has improved in recent years, aiding income stability.
- 1997 vintage remains competitive versus older nearby stock, with targeted upgrades offering value-add potential.
- 3-mile demographics show population and household growth, reinforcing long-run multifamily demand.
- Risks: affordability pressure and a below-median metro safety rank require disciplined lease management and operational controls.