| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Fair |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 631 SW 70th 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 |
631 SW 70th Ter Gainesville Multifamily Investment
Renter concentration is high in the surrounding neighborhood and occupancy has trended upward over the past five years, according to WDSuite’s CRE market data. The area’s fundamentals point to stable tenant demand with selective value-add potential rather than outsized rent gains.
The property sits in an Inner Suburb of Gainesville, positioned above the metro median overall (rank 51 out of 114 neighborhoods). Neighborhood-level occupancy has improved over the last five years, though current occupancy trends sit below the metro median, suggesting steady but competitive leasing conditions relative to other Gainesville submarkets.
Renter-occupied housing makes up a large share of the neighborhood’s housing stock (70.6% renter-occupied; top quartile among 114 metro neighborhoods). For investors, this points to a deep tenant base and durable multifamily demand, with lease-up and retention supported by a resident profile oriented toward renting.
Within a 3-mile radius, households have grown even as population edged lower, indicating smaller household sizes and diversification of living arrangements—factors that typically expand the renter pool and support occupancy stability. Forward-looking projections show increases in both households and population by the mid-term, reinforcing the area’s capacity to absorb units as supply cycles.
Local amenity density is mixed: restaurants and pharmacies are reasonably accessible (pharmacies rank in a high national percentile), while dedicated grocery, cafe, and park counts are thinner. This pattern suggests residents rely on a broader retail trade area for daily needs, which is common for inner-suburban settings and can still support consistent apartment demand when combined with commute convenience to Gainesville job nodes.
Home values in the neighborhood are moderate relative to high-cost markets, which can introduce some competition from entry-level ownership. However, rent levels and incomes indicate pockets of affordability pressure, implying that pricing power may hinge on asset quality and management execution rather than across-the-board rent lifts.
Safety indicators for the neighborhood track below national norms, and within the Gainesville metro the area trends below the median on crime. That said, recent year-over-year readings indicate declines in both violent and property offenses, pointing to incremental improvement rather than deterioration.
Investors should underwrite with conservative assumptions and align security, lighting, and access controls to submarket expectations. Framing risk comparatively—versus Gainesville and national benchmarks—can help calibrate insurance, operating practices, and renovation scopes without overstating block-level conditions.
Built in 1980, the asset is slightly older than the neighborhood average vintage, creating a practical path for value-add through interior updates and systems modernization. Neighborhood NOI per unit performance ranks in the top quartile among 114 Gainesville neighborhoods, and a high share of renter-occupied housing supports a durable tenant base. Based on CRE market data from WDSuite, occupancy in the neighborhood has improved over the past five years, though it remains below the metro median—favoring well-managed properties that compete on renovated finishes, maintenance, and service.
Within a 3-mile radius, households have increased and are projected to grow further, indicating a larger tenant base ahead even as average household sizes trend smaller. Moderate home values could create some competition with ownership, while rent-to-income dynamics suggest careful renewal management and amenity-driven differentiation to sustain retention and pricing.
- High renter concentration supports depth of demand and leasing stability.
- 1980 vintage offers clear value-add and systems modernization potential.
- Neighborhood NOI per unit ranks in the top quartile within the metro, signaling competitive operating potential.
- Household growth within 3 miles points to a larger renter pool over the medium term.
- Risk: Neighborhood occupancy sits below the metro median and safety trends are weaker than national norms; underwriting should assume competitive concessions and robust security practices.