| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3700 Windmeadows Blvd, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1972 |
| Units | 100 |
| Transaction Date | 2019-02-28 |
| Transaction Price | $39,500,000 |
| Buyer | WINDMEADOWSW APARTMENTS OWNER LLC |
| Seller | MCKINLEY WINDMEADOWS LLC |
3700 Windmeadows Blvd Gainesville Multifamily with Deep Renter Base
Renter concentration in the immediate neighborhood is high and amenity density is strong, supporting a durable tenant base according to CRE market data from WDSuite. Neighborhood multifamily occupancy is around 88%, suggesting leasing stability with careful asset and lease management.
This Inner Suburb location ranks A+ (2 of 114 metro neighborhoods), with a dense mix of daily needs and lifestyle options that helps underpin renter demand. Grocery and restaurant density is competitive among Gainesville neighborhoods and sits in the top quartile nationally, with cafes also testing top-tier availability. Parks access trends above national median, enhancing overall livability for residents.
The area skews renter-occupied at the neighborhood level, indicating a sizeable and active tenant pool for multifamily assets. Neighborhood multifamily occupancy is approximately 88%, which points to steady leasing but places a premium on operations, marketing, and renewal strategies to sustain performance.
Within a 3-mile radius, demographics show modest recent population growth and a notable increase in total households, with projections calling for further population growth and a sizable expansion in households by 2028. This translates to a larger tenant base and supports occupancy stability, particularly for well-managed properties positioned near amenities.
Elevated home value-to-income ratios at the neighborhood level and a high renter share suggest that ownership is a higher-cost path relative to incomes here, which typically sustains reliance on multifamily rentals. That said, rent-to-income ratios indicate pockets of affordability pressure, so rent setting and retention programs remain important to preserve pricing power and reduce turnover risk.
Built in 1972, the property is older than the neighborhood s average construction year. Investors should account for capital planning and potential value-add opportunities (systems, interiors, and common areas) to improve competitiveness versus younger stock while aligning with the area s amenity strengths.
Safety metrics for the neighborhood trail national benchmarks, so prudent underwriting should include security design, lighting, and partnership with professional management. Recent data indicates year-over-year declines in both violent and property offense rates, signaling improvement, but conditions can vary by block and over time.
Investors typically evaluate insurance, security provisions, and resident engagement as part of the operating plan, and benchmark against Gainesville s broader submarkets to monitor further trend improvement.
The thesis centers on a large renter pool, strong amenity access, and dependable neighborhood leasing dynamics. Based on CRE market data from WDSuite, the immediate area s renter concentration is high and neighborhood multifamily occupancy is around 88%, supporting day-to-day stability when paired with active renewal management. Elevated ownership costs relative to incomes reinforce reliance on rentals, while amenity density (groceries, restaurants, pharmacies, parks) supports lease retention.
At the same time, the 1972 vintage suggests clear value-add pathways. Modernizing interiors and key systems can strengthen competitive positioning against newer stock. Within a 3-mile radius, recent population growth, a rising household count, and forward projections for additional household expansion point to a broader tenant base over the next several years practical support for occupancy and cash flow durability with disciplined operations.
- Deep neighborhood renter base and amenity-rich location underpin demand
- Neighborhood occupancy around 88% supports leasing stability with proactive management
- 1972 vintage offers value-add and capital planning opportunities to boost competitiveness
- Three-mile demographics point to population and household growth, expanding the renter pool
- Risks: below-national safety benchmarks and rent-to-income pressure require careful pricing and security strategy