| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 27th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 39 Herald Dr, Leesburg, FL, 34748, US |
| Region / Metro | Leesburg |
| Year of Construction | 1987 |
| Units | 42 |
| Transaction Date | 2019-01-30 |
| Transaction Price | $5,000,000 |
| Buyer | FL GRIFFIN LLC |
| Seller | SUNWOOD PARTNERS LLC |
39 Herald Dr, Leesburg Multifamily Investment in Orlando MSA
Steady renter demand and near-metro occupancy dynamics, according to WDSuite’s CRE market data, position this asset for pragmatic income management. Location fundamentals and a durable renter base underpin leasing stability with scope for targeted value-add.
Situated in Leesburg’s inner-suburban fabric of the Orlando–Kissimmee–Sanford metro, the neighborhood offers everyday convenience with restaurants, groceries, parks, and pharmacies clustered at densities that are competitive among 465 metro neighborhoods. Dining and grocery access track in the upper tiers locally, supporting livability for workforce households and reducing friction for daily needs.
Occupancy in the neighborhood is close to the metro median, while renter-occupied housing represents a relatively high share of units (48.4%), indicating a deep tenant base for multifamily owners and supporting ongoing leasing velocity. Based on WDSuite’s multifamily property research, this concentration of renter households tends to reinforce demand resilience through cycles.
Home values in the immediate area are modest relative to national norms, which can introduce competition from ownership options. For investors, that typically translates into a focus on product differentiation—unit finishes, maintenance responsiveness, and amenities—to sustain pricing power and retention without overextending rent-to-income levels. Median rent levels remain comparatively accessible, supporting lease renewal potential.
Schools rate below national averages and may influence unit mix performance for family renters; investors often address this by elevating on-site experience and emphasizing convenience to employment. The 3-mile demographic catchment shows recent population and household growth with further expansion projected, implying a larger tenant base over time even as household sizes trend slightly smaller—factors that can support occupancy stability with thoughtful unit positioning.
Safety indicators in this neighborhood trend below national averages. The area ranks in the lower half among 465 metro neighborhoods and sits in the lower national percentiles for safety, signaling that investors should underwrite enhanced property-level security measures and attentive operations. Recent year-over-year data also shows an uptick in reported offenses, underscoring the value of proactive lighting, access control, and community engagement to support resident retention.
Nearby employers span environmental services, technology, financial services, logistics, and restaurant corporate functions, offering commute convenience that can bolster leasing and retention at workforce-oriented properties.
- Waste Management — environmental services (0.67 miles)
- Symantec — technology offices (32.5 miles)
- Prudential — financial services (36.2 miles)
- Ryder — logistics (38.8 miles)
- Darden Restaurants — corporate operations (40.1 miles) — HQ
Built in 1987, the property is slightly newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while still warranting planning for modernization of systems and interiors. According to CRE market data from WDSuite, neighborhood occupancy is near metro norms and renter concentration is elevated, which supports a stable tenant pipeline. The 3-mile area shows population and household growth with further expansion projected, suggesting a larger renter pool over time even as household sizes edge down—favorable for unit absorption and lease-up consistency.
Ownership costs nearby are comparatively accessible, which can increase competition from for-sale housing; operators who differentiate through maintenance quality, unit finish levels, and service typically preserve pricing power and renewals. Rents have been trending upward locally, and the property’s mid-1980s vintage creates a practical value-add path aimed at interiors, curb appeal, and energy-efficiency measures to enhance NOI without overreliance on outsized rent steps.
- Steady renter pipeline and near-metro occupancy support income stability
- 1987 vintage allows targeted renovations to boost competitive positioning
- 3-mile growth outlook expands the tenant base, aiding absorption and renewals
- Operational upside via service quality, maintenance, and finish upgrades rather than aggressive rent steps
- Risks: below-average safety metrics and accessible ownership options require proactive security and product differentiation