| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Fair |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 604 SW 70th Ter, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1980 |
| Units | 100 |
| Transaction Date | 2012-01-30 |
| Transaction Price | $1,313,900 |
| Buyer | HOLLY HEIGHTS GAINESVILLE 1 LL |
| Seller | FIFTY SIX LLC |
604 SW 70th Ter Gainesville Multifamily Investment
High renter concentration and improving neighborhood occupancy point to durable tenant demand, according to WDSuite’s CRE market data, though performance sits below the metro median today. This 1980 vintage, 100-unit asset offers operational scale with potential value-add upside.
Located in Gainesville’s inner-suburban fabric, the property sits in a renter-oriented neighborhood where 70.6% of housing units are renter-occupied. That depth of renter-occupied stock supports a larger tenant base and can aid leasing and renewals, even as the neighborhood’s occupancy level remains below the metro median but has trended higher over the past five years based on CRE market data from WDSuite.
Local retail is limited for everyday destinations such as cafes, grocery, parks, and childcare within the immediate neighborhood, while pharmacy access is comparatively stronger. For investors, this mix suggests residents may travel slightly farther for discretionary amenities, which can modestly influence leasing preferences and unit finishes, while daily medical and prescription needs are met nearby.
Within a 3-mile radius, household counts have increased in recent years and are projected to expand further over the next five years, indicating a broader renter pool expansion and support for occupancy stability. Population trends show smaller average household sizes, which often align with demand for apartments and smaller floorplans.
Home values in the neighborhood sit at moderate levels for the region. That ownership landscape can introduce some competition with entry-level for-sale options, but it also supports rental retention where professionally managed communities can deliver convenience and predictable monthly costs. Rent-to-income in the neighborhood implies some affordability pressure, suggesting attention to pricing power, unit mix, and renewal strategies will be important for asset management and commercial real estate analysis.
Safety metrics for the neighborhood trend weaker than both Gainesville’s metro median and national norms, with the area positioned in the lower tier among 114 metro neighborhoods and below the national median. However, recent data indicates improvement, including a year-over-year decline in both violent and property offenses, according to WDSuite’s CRE market data.
For investors, the takeaway is twofold: plan underwriting with conservative assumptions around security, insurance, and resident experience, while noting the recent downward trend that could continue to narrow the gap versus broader metro performance.
This 100-unit Gainesville property presents a scale advantage and a clear value-add angle. Built in 1980, the vintage may require targeted capital planning (exteriors, unit interiors, systems), but that same profile can unlock rent and retention gains relative to older nearby stock. The immediate neighborhood’s occupancy sits below the metro median yet has improved over the past five years, and renter concentration is high—both dynamics that can support leasing durability with thoughtful operations.
Within a 3-mile radius, projections point to growth in households and a larger renter pool, reinforcing demand for professionally managed apartments. Ownership costs in the area are moderate for the region, which can create some competition from entry-level for-sale options; still, professionally managed communities can differentiate on convenience and amenity consistency. According to CRE market data from WDSuite, the neighborhood’s rent-to-income profile suggests measured pricing power, making renewal strategy and expense control central to returns.
- Scale and operations: 100 units support professional management, marketing efficiency, and cost control.
- Value-add pathway: 1980 vintage lends itself to targeted renovations and systems upgrades for rent and retention lift.
- Demand fundamentals: High renter-occupied share locally and projected household growth within 3 miles support leasing.
- Pricing discipline: Neighborhood rent-to-income levels imply steady but measured pricing power; renewal strategy is key.
- Key risks: Below-metro occupancy and safety metrics warrant conservative underwriting and thoughtful resident-experience investments.