| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 73rd | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 405 SE 2nd Ave, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1994 |
| Units | 100 |
| Transaction Date | 2001-10-03 |
| Transaction Price | $1,249,000 |
| Buyer | ARLINGTON SQUARE WISTERIA DOWNS LTD PTNR |
| Seller | COLLIER NATHAN S |
405 SE 2nd Ave Gainesville Multifamily Investment
Situated in an amenity-rich inner suburb of Gainesville, this 100-unit asset benefits from strong neighborhood renter demand and steady occupancy, according to WDSuite’s CRE market data. The area’s deep tenant base and daily-needs access support durable performance for efficiently sized units.
The property sits in an Inner Suburb neighborhood rated A+ and competitive for daily convenience. Amenities are a clear strength: cafes, restaurants, parks, and groceries rank near the top among 114 Gainesville metro neighborhoods, with cafes and parks in the top national tiers. This level of walkable lifestyle infrastructure typically supports leasing velocity and day-to-day resident satisfaction.
Neighborhood occupancy is near the metro median among 114 neighborhoods, indicating stable tenant demand rather than dependence on a single driver. Renter-occupied housing share ranks in the top quartile locally and is high by national comparison, signaling a deep pool of prospective renters and supporting multifamily absorption and retention.
The average construction year in the neighborhood skews older (1960s), while this property was built in 1994. Newer vintage relative to nearby stock can provide competitive positioning on systems and finishes; investors may still consider targeted upgrades to modernize common areas or in-unit features to reinforce pricing power.
Within a 3-mile radius, demographics show population growth over the last five years with a notable increase in households, and forecasts point to further household expansion by 2028. A large 18–34 cohort and rising median incomes create a larger tenant base for smaller-format units, while an improving income mix supports rent growth management. Home values in the neighborhood sit in a mid-range context for Florida, which can temper move-outs to ownership and help sustain lease retention without eliminating competition from entry-level buying.
Safety conditions trend mixed. Compared with neighborhoods nationwide, this area sits below the national median for safety; within the Gainesville metro it is around the middle of the pack among 114 neighborhoods. Notably, recent year-over-year data show double-digit declines in both violent and property offense rates, suggesting improving momentum even as the area remains relatively higher crime than national averages.
Investors typically underwrite with enhanced security measures and active property management in similar urban-adjacent locations. Monitoring ongoing trends and coordinating with local resources can help maintain resident confidence and protect occupancy.
Built in 1994 with 100 units averaging approximately 387 square feet, the asset aligns with demand from a large 18–34 renter pool within 3 miles and benefits from top-tier neighborhood amenities that support leasing and retention. Neighborhood occupancy is near the metro median, and renter concentration is in the top quartile locally, indicating depth of demand. According to commercial real estate analysis from WDSuite, the location’s amenity strength and relative vintage advantage versus older nearby stock support competitive positioning with scope for selective value-add.
Forward-looking household growth and an improving income mix expand the tenant base, while mid-range ownership costs in the area reduce immediate move-outs to ownership but do not eliminate competition. Investors should balance these positives against urban safety considerations and plan for ongoing operational attention to security and maintenance.
- 1994 vintage competes well against older neighborhood stock with potential for targeted renovations
- Amenity-rich location (top-tier cafes, restaurants, parks) supports leasing velocity and retention
- Large 18–34 renter cohort within 3 miles and projected household growth expand the tenant base
- Neighborhood occupancy near metro median with high renter-occupied share indicates demand depth
- Risk: Below-national safety standing warrants proactive security and hands-on management