| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3800 SW 34th St, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 2001 |
| Units | 100 |
| Transaction Date | 2000-05-31 |
| Transaction Price | $900,000 |
| Buyer | STONERIDGE 3900 CORP |
| Seller | GRADY TOM W |
3800 SW 34th St Gainesville Multifamily Investment
Positioned in an Inner Suburb pocket with high renter concentration and strong daily-needs access, the asset offers durable tenant demand even as occupancy varies across nearby blocks, according to WDSuite’s CRE market data.
The property sits in a Gainesville Inner Suburb neighborhood rated A (ranked 11 out of 114 metro neighborhoods), indicating competitive standing among local districts for investors screening multifamily. Daily-needs access is a clear strength: grocery, restaurant, and cafe density ranks near the top of the metro and scores in the mid‑90s nationally, supporting convenience and leasing appeal. Park access is limited, so on‑site amenities and proximity to private recreation can matter more for resident retention.
Neighborhood occupancy currently trails broader national norms and sits below the metro median, but the area’s renter base is deep. Renter-occupied housing accounts for a high share of neighborhood units (top national percentile), which typically supports leasing velocity and renewal depth for workforce-oriented properties. Median asking rents in the neighborhood have risen meaningfully over the past five years, reinforcing long‑run pricing power if operations and finish levels are kept competitive.
Within a 3‑mile radius, population and households have grown over the last five years and are projected to expand further by 2028, pointing to a larger tenant pool and support for occupancy stability. Household income distribution skews younger and renter‑heavy, aligning with student and early‑career cohorts that value proximity to services and flexible housing options. These dynamics suggest steady demand for well‑managed units and consistent renewal opportunities.
The asset’s 1999 construction is newer than the neighborhood’s average vintage (mid‑1990s). That positioning can be advantageous versus older local stock, while still leaving room for targeted modernization of systems and finishes to enhance competitive standing and capture value‑add upside.
Safety indicators in this neighborhood track below national averages, and the area ranks in the lower half when compared with the 114 Gainesville metro neighborhoods. Nationally benchmarked data show property and violent offense rates in lower percentiles, signaling a comparatively higher‑risk profile than many U.S. neighborhoods. Recent trends are mixed: property offenses have eased modestly over the past year, while violent offenses have increased slightly. Investors typically account for this with tighter access control, lighting, and partnership with professional security protocols.
This 100‑unit, 1999 vintage asset benefits from a deep renter pool, high amenity access, and proximity to Gainesville’s service corridors. The neighborhood is competitive within the metro and shows sustained renter demand, while a younger, renter‑leaning 3‑mile radius supports leasing and renewal prospects. According to CRE market data from WDSuite, neighborhood occupancy runs below broader benchmarks, suggesting a focus on leasing execution and retention; however, meaningful five‑year rent gains and a high renter share indicate resilient demand for well‑positioned units.
The 1999 vintage offers a head start versus older stock, with potential to drive NOI through targeted renovations and operational upgrades. Ownership costs in the area are relatively accessible compared with coastal markets, which can introduce some competition from entry‑level ownership; at the same time, a high renter concentration and projected growth in nearby households point to continued reliance on multifamily housing. Lease management should consider measured affordability pressure in the area to sustain retention while capturing incremental rent growth.
- High renter concentration supports a deep tenant base and renewal potential.
- Amenity-rich location (groceries, restaurants, cafes) enhances leasing appeal and convenience.
- 1999 construction presents value‑add upside via targeted modernization versus older local stock.
- Demand outlook aided by projected growth in population and households within 3 miles.
- Risks: below‑average safety metrics and softer neighborhood occupancy call for strong leasing and property management.