| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Fair |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7011 SW 6th Pl, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1980 |
| Units | 100 |
| Transaction Date | 2022-03-23 |
| Transaction Price | $2,808,000 |
| Buyer | HOLLY HEIGHTS GAINESVILLE 1 LL |
| Seller | FOXTROT HOLDINGS LLC |
7011 SW 6th Pl Gainesville Multifamily with Stable Renter Base
Strong renter concentration in the neighborhood supports a consistent tenant pipeline, according to WDSuite’s CRE market data, though current occupancy levels trail metro leaders.
Located in Gainesville’s inner suburb, the property sits in a neighborhood rated B and competitive among 114 Gainesville neighborhoods for overall amenities (ranked 38th of 114). The local mix skews practical rather than lifestyle-driven: pharmacies are relatively accessible (top quintile nationally), while cafes, groceries, and parks are limited within the neighborhood. Dining density is around the national middle, suggesting everyday options but not a major retail node.
The area’s housing stock averages early 1980s vintage; this asset’s 1980 construction is slightly older than the neighborhood average (1982). That positioning points to potential value-add through selective renovations and systems updates to improve competitive standing against newer stock and support rent and retention strategies.
Renter-occupied housing makes up a high share of units in the neighborhood, indicating a deep tenant base for multifamily. Neighborhood occupancy has improved over the past five years but remains below the metro’s top tier, so prudent leasing and renewal management should help sustain stability.
Demographics aggregated within a 3-mile radius show a nuanced demand outlook: despite a modest population dip over the last five years, the count of households increased, reflecting smaller household sizes and a broader renter pool. Forward-looking estimates point to meaningful gains in both population and households by 2028, which would expand the tenant base and support occupancy and leasing visibility.
Home values in the neighborhood are below many coastal Florida markets, which can sustain rental demand as some households prefer multifamily over ownership. With rent-to-income near the higher side of typical local ranges, operators should balance pricing power with retention to manage affordability pressure and maintain lease stability.
Safety indicators for the neighborhood are weaker than the Gainesville metro median and below national norms. While property and violent offense measures are elevated relative to many U.S. neighborhoods, recent year-over-year estimates indicate declines, suggesting some improvement in trend. Investors should underwrite to current conditions and emphasize lighting, access control, and resident engagement as part of operations.
This 100-unit, 1980-vintage asset benefits from a deep renter pool and practical neighborhood fundamentals. Based on CRE market data from WDSuite, the submarket shows a high share of renter-occupied units and improving neighborhood occupancy, supporting day-to-day leasing stability. The property’s slightly older vintage points to targeted value-add potential—modernizing interiors and common areas to sharpen competitive positioning versus newer stock.
Within a 3-mile radius, household counts have grown even as average household size has declined, and forward estimates call for notable population and household expansion by 2028. Together, this implies a larger tenant base over the medium term. Affordability is manageable but not unlimited, so a focus on resident retention and measured rent growth should help balance pricing power with lease longevity.
- High renter-occupied share supports depth of demand and leasing visibility.
- Value-add potential from 1980 vintage through selective renovations and system upgrades.
- 3-mile household growth and projected gains by 2028 point to a larger renter pool.
- Practical amenity mix (strong pharmacy access; limited cafes/groceries/parks) favors everyday convenience.
- Risks: safety metrics below national norms and occupancy below metro leaders require active management and prudent underwriting.