| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Fair |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 825 SW 62nd Ter, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1979 |
| Units | 100 |
| Transaction Date | 2024-05-15 |
| Transaction Price | $525,000 |
| Buyer | HOMEROW LLC |
| Seller | HUBER APARTMENTS LLC |
825 SW 62nd Ter Gainesville Multifamily Value-Add
Neighborhood data points to a deep renter base supporting demand, according to WDSuite’s CRE market data, while occupancy measured for the neighborhood has trended upward over the past five years.
Located in Gainesville’s inner suburbs, the property sits in a neighborhood rated B where the renter-occupied share of housing units is high (70%+). For investors, that depth of renter demand helps sustain leasing activity even as neighborhood occupancy sits below the metro median but has improved meaningfully over the last five years, based on CRE market data from WDSuite.
Amenity access within the immediate neighborhood is mixed: restaurants are competitive among Gainesville neighborhoods, while cafes, parks, and grocery options are thinner locally. Pharmacy access is a relative bright spot. This pattern suggests residents may rely on short drives for a broader set of services, which can influence marketing toward convenience-oriented renters.
Home values in the neighborhood are moderate for the metro. In investor terms, a more accessible ownership landscape can introduce some competition with entry-level ownership, but the elevated renter concentration supports a sizable tenant base. With rent-to-income near 30% at the neighborhood level, pricing strategy should balance rent growth with retention risk and lease management.
Within a 3-mile radius, demographics indicate a smaller average household size and a modest decline in population in recent years alongside growth in total households. Forecasts through 2028 point to a meaningful increase in both households and incomes, implying a larger tenant base over time and support for occupancy stability and rent rolls if supply additions remain measured.
Safety conditions should be assessed carefully. Relative to the Gainesville metro, the neighborhood ranks in the lower half for crime, and national percentiles indicate below-average safety compared with neighborhoods nationwide. That said, year-over-year estimates show declining rates for both violent and property offenses, which is a constructive trend to monitor for sustained improvement.
Investors should incorporate these dynamics into operations and underwriting—prioritizing lighting, access control, and resident engagement—while benchmarking performance against comparable inner-suburb assets across the region.
Built in 1979, this 100-unit asset presents classic value-add potential: interiors and common areas may benefit from targeted updates, while systems should be evaluated for capital planning. The surrounding neighborhood shows a high renter-occupied share that supports demand, though occupancy measured for the neighborhood remains below the metro median even after recent gains. According to CRE market data from WDSuite, these fundamentals point to steady leasing potential with attention to pricing and renewal strategy.
Within a 3-mile radius, household counts have increased and are projected to rise further by 2028 alongside income growth, signaling a larger tenant base over the medium term. Amenity access is uneven locally, but restaurant and pharmacy proximity are relative strengths; marketing and operations can emphasize convenience and value relative to ownership options, while acknowledging retention risk where rent-to-income runs higher.
- 1979 vintage supports a value-add thesis with targeted renovations and systems planning.
- High neighborhood renter concentration underpins depth of tenant demand and leasing velocity.
- Neighborhood occupancy has improved over five years, suggesting better stability with prudent pricing.
- 3-mile forecasts indicate expanding household counts and incomes by 2028, supporting rent rolls.
- Risks: below-metro safety benchmarks and uneven amenities require operational focus and careful underwriting.