| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 31st | Poor |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 353 W Ardice Ave, Eustis, FL, 32726, US |
| Region / Metro | Eustis |
| Year of Construction | 1984 |
| Units | 104 |
| Transaction Date | 2014-09-25 |
| Transaction Price | $8,728,400 |
| Buyer | SABRA HEALTH CARE HOLDINGS III LLC |
| Seller | HARVEST LAKE RIDGE VILLAGE RETIREMENT RE |
353 W Ardice Ave Eustis Multifamily Investment
Neighborhood fundamentals point to stable occupancy with a high renter-occupied share that ranks in the top quartile among 465 metro neighborhoods, according to WDSuite s CRE market data.
Located in Eustis within the Orlando Kissimmee Sanford metro, the neighborhood scores a B rating and trends toward steady performance. Local occupancy has risen over the past five years, and the renter-occupied share sits in the top quartile versus 465 metro neighborhoods a signal of depth in the tenant base and support for leasing stability.
Daily-needs access is a relative strength: grocery, pharmacy, and restaurant density rank in the 90th percentile or better nationally, while parks are also above average. Caf e9 options are limited, but childcare access is competitive among metro peers. For investors, these convenience anchors can aid retention even when rent growth moderates.
Within a 3-mile radius, population and households have grown, with additional gains projected over the next five years. This expansion of the local renter pool supports absorption and occupancy, while a smaller average household size suggests continued demand for multifamily units rather than larger single-family options.
Ownership remains relatively high-cost compared with local incomes (strong value-to-income ratio rank at the neighborhood level), which helps sustain reliance on rentals. Median contract rents in the 3-mile radius have increased historically and are forecast to rise further, indicating the need for active lease management to balance pricing power with retention.
Comparable neighborhood-level safety metrics are not available in the current dataset. Investors typically benchmark this area against city and metro trends and incorporate property-level measures (access control, lighting, monitoring) and historical incident reports for underwriting.
The broader Lake County and Northwest Orlando employment base provides commute access to corporate offices that can support renter demand and retention, notably in waste services, software/security, financial services, logistics, and hospitality.
- Waste Management waste services (12.7 miles)
- Symantec software & security (20.4 miles)
- Prudential financial services (28.2 miles)
- Ryder logistics (30.6 miles)
- Darden Restaurants hospitality & corporate (32.6 miles) HQ
353 W Ardice Ave offers 104 units built in 1984, positioned in a neighborhood with steady occupancy and a high renter-occupied share versus the metro. Daily-needs amenities are strong, and 3-mile demographics indicate population and household growth, expanding the local tenant base. According to CRE market data from WDSuite, home values relative to incomes in the neighborhood point to a high-cost ownership landscape that helps sustain multifamily demand.
The 1984 vintage suggests potential for targeted value-add: systems modernization and selective interior upgrades can improve competitiveness versus newer product while supporting rent positioning. With forecast rent and income growth in the 3-mile radius, proactive renewal strategies can balance pricing power with retention.
- Stable neighborhood occupancy and top-quartile renter-occupied share support leasing durability.
- Strong access to grocery, pharmacy, and restaurants aids resident retention.
- 3-mile population and household growth expand the tenant base and support absorption.
- 1984 vintage provides value-add potential via system upgrades and interior refreshes.
- Risks: limited neighborhood safety data and rising rents require disciplined lease management to protect retention.