| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Fair |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6928 SW 6th Pl, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1980 |
| Units | 100 |
| Transaction Date | 2022-01-28 |
| Transaction Price | $3,100,100 |
| Buyer | HOLLY HEIGHTS GAINESVILLE 1 LLC |
| Seller | CEDAR RIDGE APARTMENTS LLC |
6928 SW 6th Pl Gainesville Multifamily Investment
Renter demand in the neighborhood is supported by a high share of renter-occupied units and steady lease-up potential, according to WDSuite’s CRE market data. Investors should view this as a workforce-oriented location with pricing set by neighborhood fundamentals rather than luxury drivers.
This Inner Suburb location in Gainesville balances workforce housing dynamics with proximity to daily needs. Amenity density is modest within the neighborhood itself, though pharmacy access scores well compared with national peers, while restaurants are present but not clustered. Investors should underwrite resident convenience based on nearby corridors rather than immediate block-level retail.
Neighborhood occupancy trends indicate stabilization, with the area’s occupancy rate positioned below the metro median but improving over the past five years. Rent levels sit around the mid-range compared with national peers, and median contract rents have trended upward over the last cycle, supporting gradual revenue growth assumptions rather than outsized rent spikes.
The renter-occupied share is high for the neighborhood (renter concentration is among the highest in the metro), which points to a deep tenant base and ongoing leasing velocity for multifamily properties. Median home values remain comparatively attainable for the region, so underwriting should consider some competition from entry-level ownership; however, the strong renter concentration and student/young professional presence in Gainesville still support sustained apartment demand and lease retention.
Within a 3-mile radius, households increased while average household size declined, signaling more, smaller households entering the market—an important driver for multifamily absorption. Looking forward, 3-mile forecasts indicate population growth and a sizable increase in households, which should expand the local renter pool and support occupancy stability. These patterns align with investor takeaways surfaced through commercial real estate analysis from WDSuite.
Safety indicators for the neighborhood trend weaker than the metro median, with rankings in the lower half among 114 Gainesville neighborhoods. In national terms, the area does not place in higher safety percentiles. That said, recent data show year-over-year declines in both violent and property offenses, suggesting incremental improvement that investors can factor into risk assessment and insurance planning.
As always, safety conditions vary by block and over time. Comparative analysis at the neighborhood level is most appropriate for underwriting, and ongoing monitoring of local trends can help calibrate operating assumptions.
This 100-unit multifamily asset is positioned for durable renter demand in a Gainesville neighborhood with a high share of renter-occupied housing and improving occupancy trends. Household growth within 3 miles, coupled with smaller average household sizes, points to a larger tenant base over the next several years—supporting leasing stability and measured rent growth. According to CRE market data from WDSuite, neighborhood rent levels are mid-range versus national peers, reinforcing a pragmatic pricing position rather than a premium play.
Key considerations for underwriting include amenity convenience that relies on nearby corridors, safety metrics that trail metro averages but show recent improvement, and rent-to-income levels that warrant attentive lease management. Overall, the location’s renter concentration and projected household gains underpin a steady, operations-focused thesis.
- High neighborhood renter concentration supports a deeper tenant base and steady leasing
- 3-mile forecasts indicate population growth and more households, aiding occupancy stability
- Mid-range rent positioning enables pragmatic pricing versus premium competition
- Operations-forward thesis with potential to capture incremental growth through thoughtful management
- Risks: safety metrics below metro median, limited immediate amenities, and rent-to-income pressures require disciplined underwriting