| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 29th | Poor |
| Amenities | 38th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 383 Acorn Ln, Leesburg, FL, 34748, US |
| Region / Metro | Leesburg |
| Year of Construction | 1990 |
| Units | 24 |
| Transaction Date | 2019-11-15 |
| Transaction Price | $1,560,000 |
| Buyer | GADINH LAKE COUNTY HOLDINGS LLC |
| Seller | RED MAPLE ENTERPRISES LLC |
383 Acorn Ln Leesburg Multifamily Investment Opportunity
Renter demand is supported by steady 3-mile household growth and room for pricing relative to incomes, according to WDSuite’s CRE market data, while the neighborhood’s NOI profile trends favorably versus many Orlando peers.
Situated in suburban Leesburg within the Orlando–Kissimmee–Sanford metro, the property benefits from practical daily amenities rather than destination retail. Grocery and pharmacy access score above national norms (grocery and pharmacy availability each land in higher national percentiles), while cafes, parks, and childcare are limited locally. This mix skews toward convenience for workforce renters and supports everyday livability.
Neighborhood rent levels track near national medians, and the rent-to-income ratio sits in the top quartile nationally, signaling relatively low affordability pressure and aiding lease retention. However, neighborhood occupancy ranks below the metro median (ranked 417 among 465 metro neighborhoods), pointing to softer absorption locally; operators should plan for focused leasing and resident services to sustain occupancy.
The area’s building stock averages older construction, and this asset’s 1990 vintage is newer than the neighborhood average (1977), enhancing competitive positioning against aging comparables while still warranting selective system upgrades over time for durability and repositioning.
Demographic indicators aggregated within a 3-mile radius show population and households expanding, with household sizes edging slightly smaller. A renter-occupied share near two-fifths today indicates a sizable tenant base for multifamily, though ownership is projected to gain share over the next five years; this may introduce incremental competition from for-sale options even as a larger resident base supports demand for rental units.
Home values in the immediate neighborhood are moderate relative to national benchmarks. In practice, this more accessible ownership landscape can create some competition with entry-level for-sale housing; at the same time, it can support renter retention for residents prioritizing flexibility, with pricing power determined by property quality and management execution rather than scarcity alone.
Safety outcomes in the neighborhood are mixed. The area’s crime rank places it on the less-safe side of the Orlando metro (ranked 154 among 465 neighborhoods), and overall safety trends sit slightly below the national median. Violent incident levels are around the national midpoint, while property incidents score weaker versus neighborhoods nationwide.
Recent trajectory offers a modest offset: according to WDSuite’s CRE market data, estimated violent offenses declined over the last year, signaling some improvement. Investors should underwrite to local management practices (lighting, access control, and community engagement) and monitor submarket trends rather than relying on block-level conclusions.
Nearby employment is anchored by essential services and regional corporate offices that support workforce housing demand and commute convenience, including Waste Management, Symantec, Prudential, Ryder, and Darden Restaurants.
- Waste Management — environmental services (2.98 miles)
- Symantec — software/security offices (30.37 miles)
- Prudential — financial services (33.95 miles)
- Ryder — logistics & transportation (36.50 miles)
- Darden Restaurants — restaurant corporate offices (37.88 miles) — HQ
383 Acorn Ln is a 24-unit asset built in 1990 with average 832 sq. ft. floor plans, providing a competitive alternative to older neighborhood stock. Based on commercial real estate analysis from WDSuite, neighborhood rents sit near national medians while rent-to-income ratios are favorable, suggesting potential room for disciplined pricing as quality and operations improve. The 3-mile radius shows population and household growth that can expand the tenant base, even as ownership options remain relatively accessible.
Key considerations balance upside with local execution risks. Neighborhood occupancy trends run below the metro median, so performance will hinge on leasing focus, amenity alignment, and operational consistency. With newer-than-average vintage, targeted modernization and curb-appeal upgrades can help differentiate versus older comparables and support stabilized occupancy.
- 1990 vintage outcompetes older local stock, with selective upgrades positioning the property for durable leasing.
- Favorable rent-to-income dynamics support retention and measured rent steps when paired with quality operations.
- Expanding 3-mile population and households indicate a growing renter pool to support occupancy stability over time.
- Proximate employment nodes (services and regional HQs) reinforce workforce housing demand and leasing depth.
- Risk: Neighborhood occupancy ranks below the metro median; underwriting should account for lease-up effort and competitive concessions.