| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Fair |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 402 SW 69th St, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1984 |
| Units | 100 |
| Transaction Date | 2016-11-28 |
| Transaction Price | $195,000 |
| Buyer | CMM 402 LLC |
| Seller | DELLEPERE ALEJANDRO V |
402 SW 69th St Gainesville Multifamily Investment
High renter concentration and improving neighborhood occupancy support stable tenant demand, according to WDSuite’s CRE market data, while broader Gainesville fundamentals remain steady for cash-flow focused screening in this submarket. This commercial real estate analysis suggests the asset can compete on renter depth rather than on amenity adjacency.
The property sits in an inner-suburb location of Gainesville where the neighborhood rates B and performs around the metro middle overall. Occupancy in the neighborhood is below the metro median but has improved over the past five years, pointing to gradual stabilization rather than late-cycle softness, based on CRE market data from WDSuite.
Renter-occupied share is high at the neighborhood level, indicating a deep tenant base for multifamily. Median contract rents benchmark near national mid-market levels, supporting lease-up and renewal strategies that favor value positioning over top-of-market premiums.
Within a 3-mile radius, households increased even as population edged down in recent years, implying smaller household sizes and a shift toward more housing units in use—conditions that generally expand the renter pool and support occupancy. Forward-looking projections for the same 3-mile radius indicate growth in both population and households through 2028, which would expand the local tenant base and help sustain leasing velocity if realized.
Local amenity density is mixed: restaurant access is competitive among Gainesville neighborhoods, pharmacies are comparatively accessible, while on-block cafes, groceries, and parks are limited. For investors, this typically favors demand from cost-conscious renters prioritizing access to major corridors over walk-to-everything convenience.
Home values sit below high-cost coastal markets, which can create some competition from entry ownership options. For operators, that dynamic argues for emphasizing durable value, functional finishes, and service quality to support retention and pricing power without overreliance on premium rent positioning.
Safety indicators for the neighborhood trail both metro and national norms. The neighborhood’s crime ranking places it below the Gainesville metro median, and national comparison percentiles indicate lower relative safety versus many U.S. neighborhoods. Recent year data, however, shows declines in both violent and property incident rates, suggesting directional improvement.
Investors should underwrite to the local trend—acknowledging recent reductions—while calibrating operations (lighting, access control, and resident engagement) to market expectations for inner-suburban assets in Gainesville.
This 100-unit asset is positioned in a renter-heavy Gainesville neighborhood where occupancy has been trending upward even as it sits below the metro median—conditions that can reward disciplined operations and value-oriented unit positioning. High neighborhood renter concentration points to depth of demand, while household growth within a 3-mile radius and projections for additional population and household expansion support a larger tenant base and occupancy stability. According to CRE market data from WDSuite, rent levels track near the national middle, which favors steady absorption for well-managed, functional units.
Affordability metrics imply some rent-to-income pressure, so retention and revenue management will matter more than premium amenity packages. Homeownership remains relatively attainable in this part of Florida, which argues for competitive pricing and service to reduce move-outs to entry-level ownership. Taken together, the thesis centers on durable renter demand, operational execution, and selective upgrades sized to the submarket’s value orientation.
- Renter-heavy neighborhood supports a deep tenant base and consistent leasing.
- Neighborhood occupancy trending upward, aiding stabilization potential with sound management.
- 3-mile radius projections show expanding households and population, reinforcing demand over the medium term.
- Mid-market rent positioning offers room for value-focused unit and common-area upgrades.
- Risk: Below-metro safety readings and attainable ownership require disciplined pricing, resident experience, and targeted security measures.