| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Poor |
| Demographics | 16th | Poor |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4121 NE 15th St, Gainesville, FL, 32609, US |
| Region / Metro | Gainesville |
| Year of Construction | 2000 |
| Units | 100 |
| Transaction Date | 2021-09-30 |
| Transaction Price | $12,750,000 |
| Buyer | 4121 NE 15STH STREET LLC |
| Seller | NONPROFIT HOUSING PRESERVATION V LLC |
4121 NE 15th St Gainesville Multifamily Investment
Neighborhood renter demand is supported by a high share of renter-occupied housing and recent occupancy improvement, according to WDSuite’s CRE market data. Investors should weigh steady renter depth against limited nearby amenities and manage to affordability and retention.
Located in Gainesville, Florida, the property sits in a Rural-designated neighborhood with modest amenity density. Cafes, restaurants, parks, and pharmacies are sparse locally, placing the area below national benchmarks for amenity access (amenities score in lower national percentiles). This creates a car-reliant living pattern but can support value-oriented housing where residents prioritize space and price over walkability.
From a housing perspective, the neighborhood shows an above-median renter concentration for the metro, with roughly half of housing units renter-occupied (competitive nationally at a high percentile for renter share). For investors, this indicates a deep tenant base and supports leasing velocity for multifamily assets. Neighborhood occupancy has trended up over the past five years, suggesting improving housing utilization and a more stable rent roll backdrop relative to earlier periods.
Construction year patterns matter for competitive positioning. The submarket’s average vintage skews to the mid-1980s, while this asset’s 2000 construction is newer than the neighborhood norm—typically favorable for functional layouts and systems. That said, two-decade-old buildings often benefit from targeted modernization (exteriors, interiors, HVAC, and common areas) to sustain rent competitiveness versus newly delivered stock in the broader metro.
Demographics aggregated within a 3-mile radius point to a growing renter pool: population and household counts expanded over the last five years, with further gains projected. Household sizes are edging smaller, which can support steady demand for multifamily units and smaller floor plans. Median incomes have risen meaningfully, though rent-to-income ratios in the immediate neighborhood signal some affordability pressure—an operational consideration for renewal strategies and pricing discipline. These dynamics are consistent with broader commercial real estate analysis across tertiary Florida markets where renter demand is durable but price sensitivity requires active asset management.
Safety indicators for the neighborhood track below national averages, with national percentiles suggesting higher incident rates than many U.S. neighborhoods. However, recent year-over-year data shows double-digit declines in both violent and property offenses, indicating momentum in the right direction. As always, investors should underwrite to submarket trends rather than block-level assumptions and consider routine measures—lighting, access controls, and community engagement—to support resident comfort and retention.
Built in 2000, the property is newer than much of the surrounding neighborhood stock, offering a relative quality advantage while still presenting a straightforward path for value-add upgrades as systems and finishes approach mid-life. Based on CRE market data from WDSuite, the neighborhood shows a high share of renter-occupied housing and improving occupancy trends—both supportive of tenant demand and leasing stability. Demographic growth within 3 miles, alongside rising incomes, expands the prospective renter base, though elevated rent-to-income ratios nearby call for attentive renewal and pricing strategies.
Amenity density in the immediate area is limited, which may temper premiums tied to walkability; however, assets positioned for practical, car-oriented living can capture steady demand from cost-conscious renters. Safety metrics sit below national norms but have improved year over year, suggesting conditions that can be supported through standard property-level operations. Overall, the thesis favors a cash-flow orientation with selective renovations to sustain competitiveness versus older stock across the Gainesville metro.
- Newer-than-neighborhood vintage (2000) supports competitive positioning, with clear value-add opportunities in modernization.
- High renter-occupied share locally underpins tenant depth and leasing stability.
- 3-mile demographics indicate population and household growth, reinforcing demand for multifamily units.
- Limited amenity density suggests a value-oriented, car-reliant resident profile—pricing should reflect this positioning.
- Risks: below-average safety metrics and affordability pressure require proactive asset management and prudent rent setting.