| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Fair |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6824 SW 6th Pl, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1980 |
| Units | 100 |
| Transaction Date | 2014-09-30 |
| Transaction Price | $134,000 |
| Buyer | HOLLY HEIGHTS GAINESVILLE 1 LL |
| Seller | HOLLY HEIGHTS HOLDINGS AND ACQUISITION L |
6824 SW 6th Pl Gainesville Multifamily Investment
Renter-occupied housing is prevalent in the surrounding neighborhood, and occupancy has trended higher over the past five years, according to WDSuite’s CRE market data. Mid-market rents support a broad tenant base, with neighborhood dynamics pointing to durable multifamily demand.
Situated in an Inner Suburb of Gainesville, the property benefits from a neighborhood with a high share of renter-occupied units, indicating depth in the tenant base that can support leasing stability. Neighborhood occupancy is currently below the metro median (ranked 82 of 114 metro neighborhoods), but it has improved over the past five years, a constructive signal for future performance based on CRE market data from WDSuite.
Rents are positioned in the middle of the local market (neighborhood median rent ranks 33 of 114; mid-50s nationally), which helps maintain demand across a range of price points. Median household income in the neighborhood ranks in the lower decile nationally, so operators should expect some affordability pressure; the rent-to-income ratio is also in a low national percentile, reinforcing the need for careful lease management and renewal strategies.
The surrounding area is amenity-light on cafés, groceries, and parks (each ranking at or near the bottom among 114 metro neighborhoods), but pharmacy access is comparatively strong (Top quintile locally; around 80th percentile nationally). For investors, this suggests residents may rely more on destination retail corridors, while everyday health-related convenience is present.
Construction in the neighborhood averages early 1980s; this asset’s 1980 vintage is slightly older than the average and may present value-add potential through modernization and systems upgrades. Within a 3-mile radius, households have increased despite a modest population dip, and forward-looking projections indicate population growth with a larger number of smaller households by 2028. That trend typically expands the renter pool and helps support occupancy resilience relative to the metro and national CRE context.
Neighborhood safety metrics trail both metro and national benchmarks. The area ranks 68 out of 114 Gainesville metro neighborhoods for crime, placing it below the metro median. Nationally, the neighborhood sits in low percentiles for both violent and property offenses, signaling elevated safety risk relative to many U.S. neighborhoods.
Recent trend data is directionally constructive: estimated violent and property offense rates declined over the latest year. For investors, this mix points to a risk factor that warrants active management (lighting, access control, partnerships with local public safety) while noting the improving trajectory.
This 100-unit, 1980-vintage multifamily property in Gainesville’s inner suburbs is positioned in a renter-heavy neighborhood that has shown improving occupancy trends. Mid-market rents and a deep renter base support demand, while 3-mile demographics point to household growth and smaller household sizes over the next five years—conditions that typically expand the renter pool and help sustain occupancy. According to commercial real estate analysis from WDSuite, the area’s amenity mix is limited but everyday pharmacy access is solid, and the vintage may offer value-add upside through targeted renovations and system updates.
Key considerations include below-metro-median neighborhood occupancy today, localized affordability pressures (as indicated by low national rent-to-income percentile), and safety metrics that trail regional and national norms. These risks can be mitigated with active operations, thoughtful unit and common-area improvements, and disciplined leasing and renewal strategies.
- Renter-heavy neighborhood and improving occupancy support leasing stability
- Mid-market rent positioning broadens demand across income tiers
- 1980 vintage offers potential value-add through modernization and system upgrades
- 3-mile outlook shows more, smaller households—expanding the renter pool
- Risks: below-metro-median neighborhood occupancy, affordability pressures, and elevated safety concerns