| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Fair |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6918 SW 6th Pl, 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 1 LLC |
| Seller | FIFTY SIX LLC |
6918 SW 6th Pl Gainesville Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and improving occupancy trends, according to WDSuite’s CRE market data. Positioning and lease management matter here given below-metro-average occupancy, but the tenant base is deep for a 100-unit asset.
Neighborhood and Demand Context
This Inner Suburb location is competitive among Gainesville neighborhoods on overall livability (ranked 51 of 114) and shows increasing renter activity. Neighborhood occupancy has trended higher over the past five years, while the share of housing units that are renter-occupied is elevated (70.6%), indicating depth in the tenant pool and support for leasing velocity and renewals.
At the 3-mile radius level (demographics aggregated within a 3-mile radius), household counts increased even as average household size declined, pointing to more individual households entering the renter pool. Forward-looking projections show growth in both population and households, which supports multifamily demand and can help stabilize occupancy and reduce downtime between turns.
Amenity access is mixed: restaurants are roughly in line with national norms, while pharmacies score strong (around the 80th percentile nationally). However, cafes, grocery, and parks are limited within the immediate neighborhood, which places more weight on on-site features and property management as competitive differentiators.
The property s 1980 vintage is slightly older than the neighborhood s average construction year (1982). Investors should underwrite routine capital planning and consider value-add or modernization to enhance competitiveness versus newer stock and to support rent positioning.
Home values in the neighborhood are relatively moderate for the metro, which can mean some competition from ownership options. For multifamily owners, this points to a need for careful pricing and resident experience to sustain retention and occupancy, especially as rent-to-income metrics (neighborhood level) suggest some affordability pressure that may affect renewal decisions.
Safety Context
Relative to Gainesville s 114 neighborhoods, the area ranks in the lower half on crime (rank 68 of 114), placing it below the metro median for safety. Nationally, the neighborhood sits in low safety percentiles, indicating higher reported offense rates than many areas across the country.
Recent trends are moving in a constructive direction: estimated violent and property offenses have declined year over year. For investors, this improvement is worth monitoring alongside on-site security practices and resident engagement, but underwriting should still reflect a below-metro-average safety profile.
Why Invest
This 100-unit asset benefits from a high neighborhood renter concentration and improving neighborhood occupancy, supporting leasing resilience and a broad tenant base. Based on CRE market data from WDSuite, the submarket’s renter-occupied share is strong, while occupancy trends have improved, suggesting demand support even as performance varies by asset quality and operations.
The 1980 vintage provides a clear value-add angle: targeted renovations and system updates can enhance competitiveness versus newer stock. Within a 3-mile radius, projections indicate growth in population and households and shrinking household sizes, which can expand the renter pool and support occupancy stability. Balanced pricing and resident experience will be important given moderate ownership costs nearby and neighborhood-level affordability pressure.
- Deep renter base and improving neighborhood occupancy support leasing stability.
- 1980 vintage offers value-add and modernization potential to drive NOI.
- 3-mile radius forecasts point to population and household growth, expanding the tenant pool.
- Pricing power is tempered by moderate ownership costs and neighborhood affordability pressure.
- Below-metro-average safety profile is a risk; recent declines in estimated offenses are a positive trend to monitor.