| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Fair |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 620 SW 67th Ter, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1980 |
| Units | 100 |
| Transaction Date | 2021-12-23 |
| Transaction Price | $2,377,900 |
| Buyer | HOLLY HEIGHTS GAINESVILLE LLC |
| Seller | FORTY EIGHT LLC |
620 SW 67th Ter Gainesville Multifamily Investment
Renter demand in this inner-suburban Gainesville neighborhood is supported by a high share of renter-occupied units and steady neighborhood-level occupancy, according to WDSuite’s CRE market data. Note: occupancy metrics cited refer to the neighborhood, not the property.
Positioned in an Inner Suburb with a B neighborhood rating, this location is competitive among Gainesville neighborhoods (38th of 114 for amenities) while trending more utilitarian than lifestyle-driven. Restaurants and pharmacies are accessible relative to the metro, though cafes, parks, and grocery options are limited nearby. For investors, this mix supports day-to-day convenience without commanding premium rent purely on amenity adjacency.
Neighborhood occupancy is in the lower half of Gainesville but has improved in recent years, signaling firmer demand than earlier in the cycle. Importantly, renter concentration is high (renter-occupied share above 70%), indicating a deep tenant base that can support leasing velocity and renewal capture during typical turnover. All occupancy and tenure figures here reflect the neighborhood, not the property.
The asset’s 1980 vintage is slightly older than the local average (early 1980s). That age profile points to classic value-add levers—exterior refresh, unit interior updates, and systems upgrades—to improve competitive positioning versus newer stock while planning for capital needs typical of this era.
Within a 3-mile radius, households have been increasing even as population edged down, implying smaller household sizes and a gradually expanding renter pool. Forward-looking projections indicate growth in both population and households, which supports occupancy stability and absorption potential over the medium term. Median home values are moderate by national standards, which can create some competition from ownership; however, rent-to-income dynamics suggest investors should manage pricing and renewals with an eye on affordability pressure and retention risk.
Relative to Gainesville overall, the neighborhood ranks in the lower safety tiers (68th of 114 for crime), and it sits in low national safety percentiles. Year over year, both violent and property offense rates have trended down, which is constructive but does not yet change the area’s comparative positioning. Investors typically underwrite enhanced on-site lighting, access controls, and community management as part of operating plans in locations with similar profiles.
This 100-unit, 1980-vintage property aligns with a high-renter neighborhood that shows improving occupancy and a deep tenant base. According to CRE market data from WDSuite, neighborhood occupancy has firmed while remaining below national norms, suggesting room for operational upside with disciplined leasing and renewal execution. The vintage supports a clear value-add path—modernize interiors and address aging systems—to improve rent competitiveness against newer comparables.
Within a 3-mile radius, the trend toward smaller households and projected growth in both households and population points to a larger tenant base over time, aiding lease-up and renewal stability. Ownership costs are relatively moderate locally, so pricing strategy should balance rent growth ambitions with retention. The submarket’s amenity mix is serviceable, and investors can lean on convenience and refreshed product quality rather than lifestyle premiums to drive demand.
- High renter concentration supports deep tenant demand and renewal capture
- 1980 vintage offers value-add potential through interiors and systems upgrades
- Neighborhood occupancy improving, creating operational upside with focused leasing
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: below-average safety profile and moderate ownership costs require prudent pricing and security planning