| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 73rd | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 400 NW 1st Ave, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1979 |
| Units | 100 |
| Transaction Date | 2010-01-25 |
| Transaction Price | $1,321,000 |
| Buyer | SP 400 APARTMENTS LP |
| Seller | GAINESVILLE HOUSING AUTHORITY |
400 NW 1st Ave Gainesville Multifamily Investment
Amenity-rich inner suburb with durable renter demand and steady neighborhood occupancy, according to WDSuite’s CRE market data. Positioning supports consistent leasing while offering operational upside through targeted upgrades.
Located in Gainesville’s Inner Suburb, the neighborhood carrying 400 NW 1st Ave is rated A+ and ranks 1 out of 114 metro neighborhoods, signaling strong overall livability relative to the local market. Amenity access is a differentiator: restaurants and cafes are in the top percentile nationally, and park access sits in the top quartile, supporting walkable, lifestyle-driven appeal that can aid leasing velocity and retention.
From an investment lens, neighborhood occupancy is around the low-90s with a modest upward trend over the past five years, per WDSuite. The share of housing units that are renter-occupied is around the low-40s within the immediate neighborhood, and renter concentration within a 3-mile radius is meaningfully higher, indicating a deep tenant base that can support absorption and renewal performance. Median contract rents in the neighborhood have risen materially over the last five years, consistent with broader metro momentum yet still positioned to compete against newer stock.
Demographic statistics aggregated within a 3-mile radius point to population and household growth, alongside a large 18–34 cohort that expands the renter pool. Rising household incomes over recent periods and a rent-to-income relationship near one-fifth, based on WDSuite’s commercial real estate analysis, suggest manageable affordability pressure that can support lease stability while leaving room for measured rent optimization. Median home values in the neighborhood sit in the mid-range for the metro, reinforcing continued reliance on multifamily rentals for many households rather than shifting to ownership.
Asset vintage context: the property’s 1979 construction is newer than the neighborhood’s average vintage, which skews early-1960s. That positioning helps competitiveness versus older local stock, while still leaving room for modernization of systems and finishes to drive value-add returns and operational efficiency.
Safety indicators for the neighborhood trail national benchmarks, with overall crime metrics below national percentiles for safer areas. Within the metro context, conditions vary by corridor and property frontage; investors typically underwrite with conservative assumptions and emphasize on-site lighting, access control, and resident engagement to support retention.
Recent trend data from WDSuite shows year-over-year declines in both violent and property offense estimates, an encouraging directional shift that compares favorably to many neighborhoods nationwide. As always, investors should pair the metro-level perspective with a property-specific review of incident trends, security measures, and nearby activity nodes.
This 100-unit asset delivers scale in an A+-rated Gainesville neighborhood with top-tier amenity access and a deep renter base. Neighborhood occupancy has held around the low-90s with a gradual upward trajectory, and 3-mile demographics indicate renter pool expansion supported by population and household growth. According to CRE market data from WDSuite, rents have advanced meaningfully while remaining competitive versus newer deliveries, positioning the asset for steady cash flow with disciplined revenue management.
Built in 1979, the property is newer than the area’s average vintage, offering relative competitiveness against older stock while preserving clear value-add pathways through targeted modernization of interiors and building systems. The location’s strong restaurants, cafes, and parks footprint supports leasing velocity and resident satisfaction, with affordability dynamics that can reinforce retention under prudent rent-setting.
- Amenity-rich A+ neighborhood supports leasing velocity and renewal potential.
- Scale: 100 units enable operating efficiencies and professional management.
- 1979 vintage is newer than local average, with clear value-add and systems-upgrade upside.
- Stable neighborhood occupancy and growing 3-mile renter base support cash flow durability.
- Risk: Safety metrics lag national norms; underwrite for security investments and conservative collections.