| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 44th | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2393 Continental Ave, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2393 Continental Ave Tallahassee 24-Unit Multifamily
Renter demand is supported by a high neighborhood renter-occupied share and improving occupancy trends, according to WDSuite’s CRE market data. Investors should view this as a workforce-oriented location where stable leasing is achievable with thoughtful asset management.
The property sits in an Inner Suburb of Tallahassee rated B and ranked 69 out of 143 metro neighborhoods, placing it above the metro median. The area’s renter concentration is notably high (renter-occupied housing share ranks 4 of 143), which typically supports a deeper tenant base and steadier leasing for multifamily assets.
Livability is mixed but investable. Restaurant density ranks 21 of 143 — top quartile among Tallahassee neighborhoods — and park access ranks 4 of 143 with a national percentile of 92, indicating strong recreation options. Daily-needs retail is thinner inside the neighborhood itself (grocery, pharmacy, and café counts sit at the bottom of the metro rankings), so residents often rely on nearby corridors for errands.
Neighborhood occupancy has trended upward over the past five years, though it remains below the metro median (occupancy rank 87 of 143; national percentile 35). Median contract rents in the neighborhood are around the middle of national peers (national percentile 54), suggesting room for disciplined rent optimization tied to unit quality and management.
Construction in the surrounding housing stock skews older (average year 1973). With a 1988 vintage, this property is newer than much of the competitive set, which can be advantageous versus older buildings while still warranting targeted system updates or cosmetic repositioning to sustain competitiveness.
Within a 3-mile radius, demographics skew young (a large share ages 18–34) with modest population growth and an increase in households over the last five years. Projections call for further population and household expansion by 2028, pointing to a larger tenant base that can support occupancy stability. The area’s home values sit well below national medians, which can introduce some competition from entry-level ownership; however, the high renter concentration locally continues to underpin multifamily demand.
Safety indicators are mixed. The neighborhood’s crime positioning is near the middle of the Tallahassee metro (rank 58 out of 143), while national comparisons place the area below average on safety (violent and property offense percentiles are in the lower quartiles nationally). Recent data shows an improvement in property offenses year over year, which is a constructive trend to monitor.
Investors should underwrite with standard risk controls — lighting, access management, and resident screening — and track ongoing trends at the neighborhood level rather than block-specific conclusions.
This 24-unit, 1988-vintage asset benefits from a renter-heavy neighborhood, upward movement in neighborhood occupancy, and a young, expanding renter pool within 3 miles. Being newer than much of the local housing stock provides a competitive baseline; targeted renovations and system updates can position the property to capture steady tenant demand. Based on commercial real estate analysis from WDSuite, rent levels sit near the national middle while neighborhood amenities favor parks and dining — conditions that can support retention when paired with attentive operations.
Key considerations include household budgets (rent-to-income is elevated locally) and thinner in-neighborhood daily-needs retail, which places a premium on convenience-driven upgrades and transportation access. With disciplined expense control and selective value-add, the asset’s fundamentals align with stable, workforce-oriented performance.
- High renter concentration supports deeper tenant base and leasing stability.
- 1988 vintage is newer than nearby stock, offering competitive positioning with targeted upgrades.
- Neighborhood occupancy has improved over five years, reinforcing demand tailwinds.
- Parks and dining access rank well locally, aiding resident satisfaction and retention.
- Risks: elevated rent-to-income ratios and limited in-neighborhood daily-needs retail warrant conservative underwriting and active management.