| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 36th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1810 W Cervantes St, Pensacola, FL, 32501, US |
| Region / Metro | Pensacola |
| Year of Construction | 2009 |
| Units | 48 |
| Transaction Date | 2021-12-20 |
| Transaction Price | $6,100,000 |
| Buyer | TRALEE ENGLEWOOD LLC |
| Seller | ENGLEWOOD SENIOR LIMITED PARTNERSHIP |
1810 W Cervantes St Pensacola Multifamily Investment
Neighborhood occupancy in the low-90s and an elevated renter-occupied share point to durable tenant demand, according to WDSuite’s CRE market data. This inner-suburb location combines daily-needs retail density with access to core corridors, supporting lease stability at the neighborhood level.
The property sits in an Inner Suburb pocket of Pensacola that is competitive among Pensacola-Ferry Pass-Brent neighborhoods (rank 47 of 134; B+ rating). Daily-needs access is a strength: the neighborhood ranks 1st of 134 locally for both grocery and pharmacy density, placing these amenities in the upper 90th percentile nationally — a practical advantage for resident convenience and day-to-day leasing stickiness.
Renter concentration is high in the neighborhood (share of housing units that are renter-occupied), indicating depth in the tenant base and support for multifamily absorption. Neighborhood occupancy trends have held in the low-90s in recent years, which typically supports pricing discipline and reduces turnover risk through cycles. Based on CRE market data from WDSuite, median contract rents in this neighborhood benchmark on the lower end nationally, which can help sustain demand while leaving room for value-oriented renovation strategies.
Vintage is a relative positive: built in 2009, the asset is newer than the neighborhood’s average construction year of 1971. That positioning can reduce near-term capital expenditures versus older stock and improves competitive standing for renters prioritizing modern systems and layouts, while still allowing targeted upgrades over time to raise finish quality.
Within a 3-mile radius, households have grown in recent years and are projected to expand further by the next five-year window, even as average household size trends smaller. This combination typically enlarges the renter pool and supports occupancy stability. Home values in the neighborhood index high relative to local incomes (high national percentile for value-to-income), which often sustains reliance on rental housing; at the same time, neighborhood rent-to-income levels remain manageable, aiding retention and renewal strategies.
Amenity mix is not uniform: while groceries and pharmacies are plentiful, parks and cafés are sparse relative to the metro. Investors should underwrite with this balance in mind, leaning into convenience retail access while recognizing fewer lifestyle amenities in immediate proximity.
Safety indicators are mixed. Compared with many Pensacola-Ferry Pass-Brent neighborhoods, the area’s overall crime rank suggests elevated incident rates (ranked 55 out of 134). Nationally, the neighborhood sits near mid-pack overall, but individual categories such as property and violent offenses benchmark below the national median.
Trend direction is constructive: according to WDSuite’s data, both property and violent offense estimates declined materially year over year at the neighborhood level. Investors can acknowledge recent improvement while maintaining prudent operating practices and security considerations consistent with urban inner-suburb assets.
This 48-unit asset with efficient average floor plans (~612 SF) offers exposure to a renter-heavy neighborhood where daily-needs retail density supports resident convenience and leasing stability. According to CRE market data from WDSuite, neighborhood occupancy has remained in the low-90s with rents benchmarking on the lower end nationally, reinforcing demand depth for workforce-oriented housing.
Constructed in 2009, the property is newer than much of the surrounding housing stock, positioning it competitively versus older assets while leaving scope for selective value-add to capture rent premiums. Investors should balance these strengths against non-uniform amenities (limited parks/cafés) and elevated crime relative to portions of the metro, while recognizing improving safety trends and a 3-mile radius outlook that points to a gradually expanding renter pool.
- Newer 2009 vintage versus neighborhood average, reducing near-term capex and improving competitive positioning
- High renter-occupied share and low-90s neighborhood occupancy support demand stability
- Strong daily-needs access (top-ranked groceries/pharmacies locally) aids retention
- Lower relative rent benchmarks provide room for value-oriented upgrades and lease-up flexibility
- Risks: elevated crime versus parts of the metro and fewer parks/cafés; mitigate with operations and amenity strategy