| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Poor |
| Demographics | 52nd | Good |
| Amenities | 20th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 33305 Ryan Dr, Leesburg, FL, 34788, US |
| Region / Metro | Leesburg |
| Year of Construction | 1987 |
| Units | 68 |
| Transaction Date | 2019-12-13 |
| Transaction Price | $884,000 |
| Buyer | R E INVESTMENT SOURCE HALLANDALE LLC |
| Seller | PETRO GROUP REAL ESTATE HOLDING 3 LLC |
33305 Ryan Dr, Leesburg Multifamily Value-Add Potential
1987-built, 68 units averaging ~531 sq. ft. position this asset for targeted renovations and efficient operations; according to WDSuite’s CRE market data, a growing renter pool within a 3-mile radius supports leasing durability even as the area maintains a low-amenity suburban profile.
Situated in Leesburg within the Orlando–Kissimmee–Sanford metro, the neighborhood is classified as Rural with a C- rating (ranked 410 among 465 metro neighborhoods). Amenity density trails the metro median, which means residents rely more on destination retail and services; however, park access is a relative bright spot, landing in the top quartile nationally, which can aid livability for long-term residents.
Neighborhood occupancy is soft and has eased over the past five years, indicating leasing competition and the need for hands-on asset management. By contrast, rents have trended upward and sit modestly above national midpoints, suggesting achievable pricing for workforce renters without overextending budgets.
Demographic statistics aggregated within a 3-mile radius show population and household growth in recent years, with additional gains projected, which generally supports a larger tenant base over time. The renter-occupied share around 3 miles is moderate, pointing to steady demand depth for conventional multifamily, while the metro’s broader growth dynamics can bolster long-run absorption.
Home values in the immediate area are below national medians, and value-to-income levels indicate a comparatively accessible ownership market. For investors, this can temper pricing power at the margin but also supports retention where well-managed properties offer convenience, modernized interiors, and professional operations that differentiate from older for-sale options.
Safety indicators are mixed in comparative terms. Violent offense rates trend favorable versus neighborhoods nationwide (higher national percentile) and have improved year over year, while property crime levels sit closer to the lower national percentiles but have also improved recently. For investors, this pattern suggests residents may perceive day-to-day conditions as stable to improving, though prudent security and lighting upgrades remain part of best-practice operations.
Nearby employers provide a diversified employment base that can support renter demand through commute convenience, including environmental services, cybersecurity, financial services, logistics, and a major restaurant group. The following employers reflect the most proximate drivers referenced here.
- Waste Management — environmental services (4.8 miles)
- Symantec — cybersecurity (28.3 miles)
- Prudential — financial services (33.3 miles)
- Ryder — logistics (35.9 miles)
- Darden Restaurants — restaurant group (37.5 miles) — HQ
This 68-unit property offers a straightforward value-add path: a 1987 vintage positions the asset for selective interior upgrades, exterior refresh, and systems modernization to compete against older local stock. Population and household growth within a 3-mile radius expand the tenant base, while rents have shown steady gains with additional increases projected, supporting revenue optimization alongside disciplined expense control.
Neighborhood occupancy is currently soft, and amenity density is below the metro median, so execution will hinge on targeted renovations, professional leasing, and resident experience. That said, improving safety trends and diversified regional employment underpin leasing resilience; according to CRE market data from WDSuite, local rent levels sit near national midpoints, which supports absorption for well-positioned workforce units.
- 1987 vintage supports value-add through interior updates and systems improvements.
- Expanding 3-mile population and households increase the renter pool and support occupancy over time.
- Rents near national midpoints with continued growth projections provide room for revenue management.
- Diversified nearby employers aid demand and retention via commute convenience.
- Risks: soft neighborhood occupancy and lower amenity density require strong leasing, resident services, and security planning.