| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 28th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5120 SW 13th Pl, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 2008 |
| Units | 100 |
| Transaction Date | 2007-09-28 |
| Transaction Price | $3,339,000 |
| Buyer | WOODLANDS OF GAINESVILLE LLC |
| Seller | --- |
5120 SW 13th Pl Gainesville Multifamily Investment
Positioned in an inner-suburb pocket with steady renter demand and newer product relative to the area, this asset benefits from a large tenant base and proximity-driven convenience, according to WDSuite’s CRE market data.
The property sits in a Gainesville inner-suburb neighborhood rated A- and ranked 23 out of 114 locally, placing it in the top quartile among metro neighborhoods for overall performance. Dining and cafe density are competitive among Gainesville neighborhoods and score in the upper national percentiles, with parks and everyday services (pharmacies, groceries) also above typical national availability. These fundamentals support convenience-led leasing and resident retention.
Construction in the surrounding neighborhood skews older (average 1985), while the property’s 2008 vintage is newer than much of the nearby stock. That positioning can aid leasing versus older comparables and may reduce immediate capital needs, though systems are approaching mid-life and selective modernization or common-area upgrades can still sharpen competitiveness.
Renter-occupied housing accounts for a substantial share of local units (neighborhood renter concentration is high by national standards), indicating depth in the tenant pool for multifamily. Neighborhood occupancy levels, however, trend below national norms, signaling that effective leasing, unit mix alignment, and amenity differentiation remain important to sustain stability.
Demographic statistics are aggregated within a 3-mile radius: households have grown even as population edged down, pointing to smaller household sizes and a broadening renter pool. Forecasts indicate meaningful increases in both population and households over the next five years, which would enlarge the tenant base and support occupancy over time. Elevated value-to-income ratios locally suggest a high-cost ownership market relative to incomes, reinforcing reliance on rental options; at the same time, a rent-to-income ratio near the upper range calls for attentive lease management and renewal strategies.
Safety indicators place the neighborhood roughly mid-range within the 114 Gainesville neighborhoods, with levels that are less favorable than many areas nationally. Recent trends show improvement, with estimated property and violent offense rates declining year over year, suggesting gradual momentum in the right direction. Investors should evaluate site-level controls, lighting, and management practices as part of standard diligence, and consider how visibility and design can support resident comfort.
The area draws from Gainesville’s diverse employment base and commuter flows, supporting workforce housing demand and retention. Specific nearby employer distance data is not available in this view; investors may wish to validate key nodes (healthcare, education, and services) during diligence to tie proximity to leasing performance.
This 2008-vintage, 100-unit asset stands newer than much of the surrounding housing stock, offering competitive positioning versus older properties while leaving room for targeted value-add. The neighborhood ranks in the top quartile locally for overall performance, with strong amenity access and a high share of renter-occupied units supporting a deep tenant base. Neighborhood occupancy trails national norms, but household growth within a 3-mile radius and forward-looking projections point to an expanding renter pool that can support leasing and renewal performance. Based on CRE market data from WDSuite, ownership remains relatively costly versus incomes, which tends to sustain multifamily demand, while rent-to-income levels suggest prudent lease management and resident retention focus.
Taken together, the fundamentals favor long-term durability driven by renter demand, amenity convenience, and the asset’s more contemporary vintage, while acknowledging execution needs around leasing strategy and ongoing capital planning as systems mature.
- Newer 2008 vintage versus neighborhood average supports competitive positioning and reduces near-term capex risk.
- High renter-occupied share indicates a deep tenant base and steady multifamily demand.
- Amenity-rich location (dining, cafes, parks, services) aids leasing velocity and retention.
- Forecast growth in households within 3 miles expands the prospective renter pool and supports occupancy over time.
- Risks: neighborhood occupancy below national norms and mid-range safety require strong leasing, site management, and targeted value-add to differentiate.