| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 28th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 701 SW 62nd Blvd, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1988 |
| Units | 100 |
| Transaction Date | 1986-05-01 |
| Transaction Price | $516,200 |
| Buyer | KRISER S P |
| Seller | --- |
701 SW 62nd Blvd Gainesville Multifamily Opportunity
Neighborhood renter concentration is strong and amenity access is competitive for Gainesville, supporting a stable tenant base, according to WDSuite’s CRE market data.
This Inner Suburb location in Gainesville balances livability and access. Restaurants and cafes are dense for the metro—competitive among Gainesville neighborhoods (ranked 6th of 114 for both restaurants and cafes) and top quartile nationally by amenity density—helping properties capture convenience-driven demand and lease retention.
Renter-occupied housing is prevalent in the neighborhood (above metro median by share), signaling depth in the tenant pool for multifamily. By contrast, neighborhood occupancy has been softer than many Gainesville submarkets (ranked 103rd of 114), so asset selection, operations, and leasing execution matter to stabilize performance relative to peers.
Within a 3-mile radius, households expanded while average household size trended lower over the last five years, effectively enlarging the pool of potential renters despite flat population trends. Forward-looking estimates point to notable growth in both population and households through 2028, which supports leasing velocity and occupancy stability for well-positioned assets.
Home values in the neighborhood sit in a high-cost ownership context relative to local incomes (national value-to-income in the upper percentiles). That dynamic typically sustains reliance on rental housing and can support pricing power when units are well-maintained and appropriately positioned. Median contract rents in the neighborhood have risen over the past five years yet remain in line with the broader Gainesville market, providing room for disciplined renovations and revenue management.
Neighborhood safety benchmarks trail national averages, with ranks placing the area below the metro median (e.g., overall crime and both property and violent categories). However, recent trend data indicate year-over-year improvement, with declines in both property and violent offense estimates. For investors, underwriting should reflect conservative assumptions and practical measures (lighting, access control, and community engagement) to align with submarket peers while monitoring the improving trajectory.
Built in 1989, the property offers a slightly newer vintage than the neighborhood average, giving it a competitive position versus older stock while leaving room for selective value-add and systems modernization. The surrounding neighborhood shows strong renter concentration and robust amenity density, both supportive of demand capture and renewal performance. Neighborhood occupancy has run below metro medians, but forward projections within a 3-mile radius point to growth in households and a larger renter base, which can support stabilization for assets with solid execution.
Ownership costs in the area are elevated relative to incomes, reinforcing sustained renter reliance on multifamily housing. Meanwhile, neighborhood rent-to-income levels near 30% suggest pockets of affordability pressure; operators may benefit from calibrated pricing, unit mix optimization, and retention strategies. According to commercial real estate analysis from WDSuite, these fundamentals align with a hold-and-improve thesis grounded in operational discipline rather than speculative rent growth.
- Slightly newer 1989 vintage supports competitive positioning with targeted renovation upside
- Strong neighborhood renter-occupied share and amenity density underpin tenant demand
- 3-mile projections indicate household growth, expanding the renter pool for lease-up and renewals
- High-cost ownership environment supports rental reliance and pricing power for well-run assets
- Risks: below-metro neighborhood occupancy and affordability pressure require disciplined operations and underwriting