| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 58th | Good |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 636 NW 26th Ave, Gainesville, FL, 32609, US |
| Region / Metro | Gainesville |
| Year of Construction | 1973 |
| Units | 100 |
| Transaction Date | 1984-03-01 |
| Transaction Price | $745,000 |
| Buyer | BEL AIR GAINESVILLE L C |
| Seller | COLLIER NATHAN S |
636 NW 26th Ave, Gainesville FL Multifamily Opportunity
Neighborhood renter demand appears durable and occupancy has improved in recent years, according to WDSuite’s CRE market data, positioning this 100-unit asset for steady leasing.
The property sits in an Inner Suburb of Gainesville where daily needs are convenient: neighborhood grocery and pharmacy access ranks among the best in the metro (8th out of 114 neighborhoods), and park access is similarly strong. Cafes are limited, but essential services are close by—helpful for retention and day-to-day livability.
Multifamily dynamics in the neighborhood point to a broad tenant base. The share of renter-occupied units is high relative to national norms, supporting depth of demand for apartments. Neighborhood occupancy is in a healthy range and has trended upward over the last five years, which helps underpin cash flow stability. Rents in the area have risen over the past cycle, and median contract rent remains near the metro middle, suggesting room to compete on value without sacrificing velocity.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, indicating a larger tenant base ahead. A substantial 18–34-year-old cohort supports demand for smaller formats and efficient layouts. Mean and median household incomes have also advanced in recent years, a positive backdrop for renewal capture and measured pricing, based on commercial real estate analysis from WDSuite.
Vintage is a consideration: the neighborhood’s average construction year skews late-1970s, while this asset was built in 1973. That older profile often implies near- to medium-term capital planning for systems, exteriors, and interiors—but it can also create value-add potential through targeted renovations that elevate competitiveness versus nearby 1970s stock.
Ownership costs in the area, relative to incomes, sit on the higher side by national standards. This environment can reinforce reliance on rental housing and support lease retention, though operators should still manage affordability carefully to sustain occupancy.
Safety indicators for the neighborhood trail national averages. Compared with Gainesville’s 114 neighborhoods, this area sits around the metro middle on overall crime (rank 58 of 114), while national comparisons indicate below-median safety. Recent data shows year-over-year declines in violent offenses, which is a constructive trend, but property offenses remain elevated compared with many neighborhoods nationwide. Investors should underwrite standard security measures and active management.
This 100-unit community, built in 1973 with compact average layouts, aligns with a deep local renter pool and a sizable 18–34 population within 3 miles—factors that support steady leasing and efficient turnover. Neighborhood occupancy has improved over the past five years, and essential amenities (grocery, pharmacy, parks) are strong for the metro, supporting everyday convenience and lease retention. According to CRE market data from WDSuite, area rents have risen over the last cycle while remaining competitive, enabling operators to balance velocity with pricing.
The 1973 vintage suggests near- to medium-term capital planning, but it also opens a practical value-add path—modernizing interiors and common areas to outperform older nearby stock. Elevated ownership costs relative to incomes help sustain rental demand, though operators should calibrate rent-to-income and safety considerations in underwriting and ongoing asset management.
- Strong neighborhood convenience (grocery, pharmacy, parks) supports retention and leasing stability.
- High renter-occupied share and growing 3-mile population expand the tenant base.
- Competitive rent positioning with upward trend provides room for measured pricing.
- 1973 vintage offers clear value-add potential through targeted renovations.
- Risks: below-national safety metrics and affordability pressure warrant conservative underwriting and active management.