| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 920 SW Depot Ave, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1975 |
| Units | 100 |
| Transaction Date | 2025-10-20 |
| Transaction Price | $8,300,000 |
| Buyer | 908 GAINESVILLE PROPERTY INVESTORS LLC |
| Seller | DEPOT AVENUE INVESTMENTS LLC |
920 SW Depot Ave Gainesville Multifamily Investment
Neighborhood fundamentals point to a deep renter pool and steady leasing potential, according to WDSuite s CRE market data, with renter-occupied housing notably concentrated in this Urban Core area. Occupancy has eased in recent years at the neighborhood level, so underwriting should assume moderate lease-up pacing rather than peak-cycle conditions.
The property sits in Gainesville s Urban Core where the neighborhood ranks top quartile among 114 metro neighborhoods overall (Neighborhood Rating: A), per commercial real estate analysis from WDSuite. Amenity access is a differentiator: restaurants and pharmacies rank at or near the top locally, and grocery access is competitive among Gainesville neighborhoods, while parks and caf e9 density are more limited.
At the neighborhood level, renter concentration is high (share of housing units renter-occupied), signaling a deep tenant base and durable demand for multifamily units. Neighborhood occupancy is in the high-80s and has softened over the past five years, suggesting investors should prioritize asset quality, management, and renewal strategies to sustain leasing momentum.
Within a 3-mile radius, demographics show population growth over the last five years with further gains projected, and households are expected to increase meaningfully by the next five-year period. A larger tenant base paired with slightly smaller projected household sizes points to ongoing demand for rental housing and supports occupancy stability for well-positioned assets.
Ownership costs in the neighborhood are elevated relative to local incomes (high value-to-income metrics), which tends to sustain reliance on rental housing and can support pricing power for competitive units. However, rent-to-income levels indicate some affordability pressure, so operators should calibrate renewal increases and unit mix to maintain retention. School options in the immediate area rate below metro norms; investors targeting family-oriented demand may lean more on location convenience and amenities to counterbalance this factor.
Safety trends should be evaluated carefully. Compared with many Gainesville neighborhoods (114 total in the metro), the area s crime profile is weaker than the metro median and sits below national safety norms. That said, recent data show year-over-year declines in both property and violent offenses at the neighborhood level, indicating some improvement. Investors should incorporate security, lighting, and partnership with local community resources into operating plans and reflect risk appropriately in underwriting.
Built in 1975, the asset is older than the neighborhood s average vintage, creating clear value-add levers through targeted renovations, systems upgrades, and exterior improvements that can strengthen competitive positioning against newer stock. The surrounding neighborhood exhibits strong renter orientation, robust food-and-drug retail access, and an Urban Core location that supports consistent leasing, though recent occupancy softening suggests a disciplined approach to leasing and renewals. According to CRE market data from WDSuite, elevated ownership costs relative to neighborhood incomes reinforce renter reliance on multifamily housing, while the 3-mile radius shows population and household expansion that broadens the tenant base.
Key considerations include affordability pressure in the immediate neighborhood and safety metrics that trail national norms, which call for pragmatic rent growth assumptions and active property management. For investors comfortable executing renovations and hands-on operations, the combination of a deep renter pool, Urban Core convenience, and value-add scope supports a durable, long-term thesis.
- High renter-occupied share in the neighborhood supports demand depth and lease retention
- 1975 vintage offers renovation and systems-upgrade upside versus newer competitive stock
- Urban Core location with strong restaurant, grocery, and pharmacy access underpins daily convenience
- 3-mile radius shows population and household growth, expanding the tenant base over time
- Risks: neighborhood affordability pressure, safety metrics below national norms, and recent occupancy softening