| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 27th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1223 Pamela St, Leesburg, FL, 34748, US |
| Region / Metro | Leesburg |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2020-07-31 |
| Transaction Price | $408,000 |
| Buyer | PMF LEESBURG I LLC |
| Seller | PAB ROSEWOOD APARTMENTS LLC |
1223 Pamela St, Leesburg FL Multifamily Investment
Stabilized renter demand in an inner-suburb pocket of the Orlando metro, according to WDSuite’s CRE market data, with a value-add angle from a 1973 vintage and smaller average unit sizes that can target budget-conscious tenants.
Located in Leesburg within the Orlando-Kissimmee-Sanford metro, the neighborhood offers everyday convenience with dining, groceries, parks, and pharmacies scoring in the top quartile nationally by amenity density. Cafes and grocery stores rank competitively, and restaurants sit around the 80th national percentile, supporting renter retention through accessible daily needs.
Neighborhood occupancy is reported at 90.2% (neighborhood-level), which is near the metro midpoint but not a top performer. Renter-occupied housing is relatively elevated by national comparison (high national percentile for renter share), signaling a deeper tenant pool and steady multifamily demand even if pricing power may be moderate in this submarket.
The property’s 1973 construction is older than the neighborhood’s average vintage (1981 across 465 metro neighborhoods), pointing to potential capital planning needs and value-add/renovation upside to stay competitive against newer stock.
Within a 3-mile radius, population and household counts have grown and are projected to expand further, with forecasts indicating additional household increases alongside a gradual reduction in average household size. For investors, this suggests a larger tenant base and potential renter pool expansion that can support occupancy stability over time.
Ownership costs in the immediate neighborhood are comparatively accessible versus national norms, which can introduce competition with entry-level ownership options. However, the neighborhood’s higher renter concentration and everyday amenity access can sustain demand for well-managed rentals, particularly smaller units positioned as cost-effective alternatives.
School ratings in the area trend below national averages, which is common in value-oriented submarkets; for multifamily investors, the practical implication is to lean into workforce housing positioning and convenience amenities rather than family-oriented premium school drivers.
Safety indicators for the neighborhood trend below both national and metro benchmarks. The area ranks 331 out of 465 Orlando metro neighborhoods for crime, and national comparison percentiles indicate weaker safety positioning (property crime particularly low on national percentile scales). Recent one-year estimates suggest upticks in both property and violent offenses; investors should underwrite security measures, lighting, and resident policies accordingly and compare trends against nearby submarkets.
Contextualizing safety at the neighborhood—not block—level is important; conditions can vary within short distances. Operators often mitigate risk through on-site management visibility, access control, and partnerships with local authorities, which can support resident retention and leasing stability over time.
Nearby employers provide a diversified employment base that supports workforce housing demand and commute convenience for residents, including Waste Management, Symantec, Prudential, Ryder, and Darden Restaurants.
- Waste Management — environmental services (0.7 miles)
- Symantec — software & cybersecurity (32.6 miles)
- Prudential — financial services (36.2 miles)
- Ryder — logistics & transportation (38.8 miles)
- Darden Restaurants — restaurant group corporate offices (40.1 miles) — HQ
1223 Pamela St is a 20‑unit asset with smaller average unit sizes that can cater to cost-conscious renters in an inner-suburban location with everyday amenities. Based on CRE market data from WDSuite, neighborhood occupancy sits near mid-metro levels while renter concentration is elevated by national comparison, indicating a sizable tenant base even if rent growth may track more with value-oriented segments than premium submarkets.
Built in 1973, the property may benefit from targeted renovations and systems updates to reinforce leasing competitiveness versus newer stock. Within a 3-mile radius, population and households have expanded historically and are projected to continue growing, which supports tenant demand and potential occupancy stability. At the same time, comparatively accessible ownership costs in the immediate neighborhood suggest staying disciplined on positioning and finish levels to maintain an edge over entry-level ownership options.
- Value-add angle: 1973 vintage with scope for renovations and operational upgrades
- Demand drivers: elevated renter-occupied share and everyday amenity access support leasing
- Demographic tailwinds: 3-mile forecasts point to population and household growth, aiding occupancy stability
- Positioning strategy: smaller units can compete on total monthly rent versus ownership alternatives
- Risks: below-average safety metrics and accessible ownership options require prudent capex, security, and pricing discipline