| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Poor |
| Demographics | 33rd | Poor |
| Amenities | 39th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2345 South St, Leesburg, FL, 34748, US |
| Region / Metro | Leesburg |
| Year of Construction | 1990 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2345 South St Leesburg FL Multifamily Investment
1990 construction positions this 36-unit asset as relatively competitive versus older neighborhood stock, with demand supported by a growing renter pool and commute access in Lake County, according to WDSuite’s CRE market data.
Located in Leesburg within the Orlando–Kissimmee–Sanford metro, the surrounding neighborhood rates C- and is rural in character. Area occupancy is softer than national norms, so leasing strategies should emphasize product differentiation and value positioning rather than pure velocity.
Livability is mixed: grocery and pharmacy access score above national midpoints, while parks and cafes are sparse. Average school ratings track well below national averages, which may modestly limit family-driven demand but still supports workforce-oriented multifamily. Median contract rents in the neighborhood sit near the national midpoint, indicating room to compete on finish, convenience, or management rather than price alone.
The housing stock skews older than this asset (neighborhood average late-1970s versus property built 1990). That vintage gap can offer an edge versus legacy properties, though investors should anticipate selective modernization to stay competitive as systems age.
Tenure patterns signal a moderate renter concentration at the neighborhood level, supporting depth for smaller multifamily assets without oversaturation. Within a 3-mile radius, demographics indicate recent population and household growth with smaller average household sizes, which can translate into a larger tenant base and steady demand for compact units and efficient layouts. Home values in the area are comparatively accessible, which can create some competition with ownership; however, rents relative to incomes remain manageable, supporting retention and occupancy stability.
Safety indicators in the neighborhood track below the national median based on WDSuite’s data, with violent and property offense measures higher than many U.S. neighborhoods. Recent trends show property offenses easing year over year, which is a constructive signal. Investors should underwrite with prudent security planning, lighting, and resident-engagement measures to support leasing and retention.
The area draws from a diversified Central Florida employment base that supports workforce housing demand and reasonable commute times, including roles in environmental services, software, financial services, logistics, and restaurant corporate operations.
- Waste Management — environmental services (2.3 miles)
- Symantec — software/security (33.2 miles)
- Prudential — financial services (35.7 miles)
- Ryder — logistics & fleet (38.2 miles)
- Darden Restaurants — corporate operations (39.4 miles) — HQ
This 36-unit property, built in 1990, offers relative competitiveness versus older neighborhood stock while remaining a manageable, boutique-scale asset. Neighborhood occupancy is below national norms, but the 3-mile trade area shows expanding population and households with smaller average household sizes, pointing to a broader renter pool and steady demand for efficient unit types. Rents benchmark near national midpoints, suggesting the opportunity to win on operations, upgrades, and resident experience rather than pricing alone.
According to CRE market data from WDSuite, nearby amenities are serviceable (groceries and pharmacies) though lifestyle options like parks and cafes are thinner, and safety metrics trail national averages. These dynamics favor investors who can pair targeted renovations and thoughtful management with disciplined underwriting, emphasizing retention, reputation, and security improvements.
- 1990 vintage offers a competitive edge over older local stock, with targeted modernization potential.
- Expanding 3-mile renter base and smaller household sizes support demand for compact, efficient units.
- Rents near national midpoints enable a strategy focused on operations, upgrades, and service quality.
- Proximity to diversified regional employers underpins workforce housing demand and leasing stability.
- Risks: below-median neighborhood occupancy, thinner amenities, and safety metrics require prudent underwriting and active management.