| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 29th | Poor |
| Amenities | 38th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 712 W Oak Terrace Dr, Leesburg, FL, 34748, US |
| Region / Metro | Leesburg |
| Year of Construction | 1974 |
| Units | 48 |
| Transaction Date | 2013-04-26 |
| Transaction Price | $929,000 |
| Buyer | AFFORDABLE HOUSING SOLUTIONS FOR FLORIDA |
| Seller | HILLCREST HAMPTON HOUSE INC |
712 W Oak Terrace Dr Leesburg Multifamily Value-Add Potential
Stabilization and yield may hinge on tapping nearby renter growth and affordability dynamics, according to WDSuite’s CRE market data, with smaller average unit sizes supporting price-sensitive demand. Neighborhood occupancy runs soft today, suggesting hands-on leasing and renovation could be key drivers.
712 W Oak Terrace Dr sits in a suburban pocket of Leesburg with everyday conveniences more weighted toward necessities than lifestyle. Neighborhood data indicate solid access to essentials like pharmacies (above the 80th national percentile) and grocery options (upper‑third nationally), while parks, cafés, and childcare are limited within the immediate neighborhood. For family‑oriented tenants, average school ratings in the area are low, which could influence unit mix and marketing strategies.
Within a 3‑mile radius, demographic statistics show population and household growth over the past five years, with households expanding faster than population—signaling smaller average household sizes and a broader renter pool. Forward‑looking estimates point to continued gains in households and incomes by 2028, which generally supports multifamily absorption and renewal prospects rather than one‑time lease‑up only.
Tenure patterns within a 3‑mile radius show roughly 38% of housing units are renter‑occupied, indicating a meaningful renter concentration that can support depth of demand for a 48‑unit asset. Median contract rents in the neighborhood sit around the national midpoint, and a favorable rent‑to‑income ratio (top decile nationally) suggests relatively lower affordability pressure for renters—often supportive of retention and measured rent steps when paired with quality improvements.
Compared with the Orlando‑Kissimmee‑Sanford metro, the neighborhood’s overall rating trends in the lower tier (ranked 409 of 465 neighborhoods), yet NOI per unit is among the strongest neighborhood benchmarks (97th percentile nationally) according to CRE market data from WDSuite. Taken together, the local context favors pragmatic value‑add: focus on functionality, durable finishes, and operations that speak to workforce renters rather than amenity‑heavy positioning.
Safety indicators for the neighborhood sit near the national midpoint overall (crime national percentile around the mid‑40s), with the area ranking 154 of 465 within the Orlando‑Kissimmee‑Sanford metro—below the metro median for safety. Property offense measures track weaker than national norms but have ticked down year over year, while violent‑offense metrics are around the national middle and have improved meaningfully in the latest annual read, based on WDSuite’s CRE market data.
For investors, this mix suggests emphasizing lighting, access control, and on‑site presence in the operating plan, alongside community standards and partnerships that reinforce steady tenancy. Framing the asset as reliable workforce housing with visible management can help mitigate perception risk and support leasing.
Proximity to regional employers supports a workforce renter base and commute convenience, including environmental services, technology, insurance, logistics, and restaurant corporate functions referenced below.
- Waste Management — environmental services (1.6 miles)
- Symantec — cybersecurity software (31.8 miles)
- Prudential — insurance (35.2 miles)
- Ryder — logistics and fleet management (37.8 miles)
- Darden Restaurants — restaurant group corporate (39.1 miles) — HQ
Built in 1974, the property’s vintage points to clear value‑add and capital planning opportunities—upgrading systems and finishes to improve tenant experience and drive rent positioning. Smaller average unit sizes (approx. 411 sq. ft.) can align with price‑sensitive renters seeking efficiency, particularly as household counts expand within a 3‑mile radius and average household size trends lower, supporting a broader tenant base.
According to CRE market data from WDSuite, the surrounding neighborhood shows soft occupancy today but favorable affordability dynamics and steady renter demand signals. Forward projections within 3 miles indicate notable growth in households and incomes by 2028, while neighborhood rent levels around the national midpoint suggest room for disciplined upgrades focused on durability, security, and professional management rather than amenity overbuild.
- 1974 vintage offers renovation and operational upside with focused capex
- Smaller average unit sizes support efficient pricing for workforce renters
- 3‑mile radius shows expanding household base, reinforcing depth of demand
- Mid‑market neighborhood rents allow measured value‑add without over‑amenitizing
- Risks: below‑median metro safety rank and soft neighborhood occupancy call for strong on‑site management