| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 56th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4004 SW 26th Dr, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 2005 |
| Units | 100 |
| Transaction Date | 2012-01-24 |
| Transaction Price | $1,800,000 |
| Buyer | KKB L L C |
| Seller | MAGNOLIA MANOR APARTMENTS LLC |
4004 SW 26th Dr, Gainesville FL Multifamily Opportunity
Positioned in Gainesville’s Urban Core, the asset benefits from a deep renter base and steady neighborhood occupancy, according to WDSuite’s CRE market data. The investment lens centers on demand durability with measured attention to affordability management and tenant retention.
The surrounding neighborhood is rated B+ and is competitive among Gainesville neighborhoods (ranked 42 out of 114), indicating balanced fundamentals for workforce-oriented leasing. Restaurant density trends better than most local peers, while other day-to-day amenities are thinner; investors should underwrite convenience as a modest value-add lever (e.g., partnerships for delivery services or onsite offerings), based on CRE market data from WDSuite.
Renter concentration is high: 76.3% of housing units are renter-occupied in the neighborhood, placing it among the top quartile nationally for renter share. This depth of the tenant base typically supports leasing velocity and occupancy stability across cycles, though it also heightens the importance of differentiated unit finishes and responsive management to retain residents.
Neighborhood occupancy sits in the high-80s and has improved over the past five years, suggesting demand resilience. Median asking rents in the area have advanced meaningfully over the period, while household incomes rank lower within the metro, which implies that lease management and renewal strategies should remain calibrated to affordability to sustain pricing power without elevating turnover risk.
Demographic statistics aggregated within a 3-mile radius point to population growth and a faster increase in households, expanding the local renter pool. Forecasts indicate further growth with smaller average household sizes over the next five years, which supports demand for efficiently planned units and steady absorption for well-managed properties.
The property’s 2005 vintage is newer than the neighborhood’s average construction year (1993). That positioning can enhance competitiveness versus older stock, though investors should still plan for mid-life system upgrades and select modernization to align with current renter expectations.
Home values in the area remain moderate in metro context, which can create some competition from ownership options. Even so, elevated rent-to-income ratios locally suggest that many households will continue to rely on rental housing, reinforcing the need for balanced rent setting and resident retention programs.
Safety indicators trend below national averages for comparable neighborhoods, and the area ranks below the metro median (64 out of 114) on crime. However, recent data show an improvement in violent offense rates year over year, which is a constructive signal to monitor. For underwriting, investors typically account for these dynamics through security, lighting, and community engagement measures rather than assuming rapid structural change.
This 100-unit, 2005-vintage asset aligns with Gainesville’s renter-driven Urban Core, where a high share of housing units are renter-occupied and neighborhood occupancy has trended upward. Demographic data within a 3-mile radius indicate population growth and a larger household count ahead, supporting a growing renter pool and sustained absorption. According to commercial real estate analysis from WDSuite, the property’s relative youth versus nearby stock can position it competitively with targeted refresh programs, while affordability pressure in the area argues for disciplined rent-setting and renewal tactics to preserve retention.
The investment case centers on stable demand from renters, economies of scale at 100 units, and value-add potential through selective modernization and amenity positioning. Key risks include local affordability pressure and safety metrics that trail national benchmarks, both of which can be managed with prudent capital planning, security enhancements, and resident experience initiatives.
- High renter-occupied share supports depth of tenant demand and leasing stability.
- Neighborhood occupancy has improved over five years, reinforcing cash flow consistency.
- 2005 vintage is newer than local averages, offering competitive positioning with targeted upgrades.
- 3-mile demographics show population and household growth, expanding the renter pool.
- Risks: elevated rent-to-income dynamics and below-average safety require careful rent strategy, security, and retention focus.