| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 28th | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2135 NW 1st Ave, Ocala, FL, 34475, US |
| Region / Metro | Ocala |
| Year of Construction | 1980 |
| Units | 20 |
| Transaction Date | 2014-04-30 |
| Transaction Price | $1,000,000 |
| Buyer | GREEN OCALA PLACE LLC |
| Seller | OCALA PLACE APARTMENTS LLC |
2135 NW 1st Ave Ocala Multifamily Investment
Neighborhood occupancy is strong and trending higher, supporting stable collections for well-run assets, according to WDSuite’s CRE market data. A meaningful renter-occupied share in the surrounding area points to a consistent tenant base.
This Inner Suburb neighborhood rates highly within the Ocala metro, placing in the top quartile among 113 metro neighborhoods. Day-to-day convenience is supported by a solid mix of groceries, cafes, and restaurants relative to the metro, while limited park access suggests fewer recreational green spaces nearby.
For investors, the local housing dynamics are favorable: neighborhood occupancy is above the metro median and in the top quartile nationally, indicating healthy renter demand and support for steady leasing. The area’s renter concentration (share of housing units that are renter-occupied) is competitive among Ocala neighborhoods, which helps sustain a deeper tenant pool for multifamily assets.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with projections for further increases and smaller average household sizes over the next five years. This points to a gradual renter pool expansion that can support occupancy stability for well-positioned properties.
Ownership remains a high-cost proposition relative to local incomes by regional standards (value-to-income ranks strong within the metro), which tends to reinforce reliance on rental options and can aid lease retention. At the same time, rent levels sit in a moderate range for the market, and a rent-to-income ratio near one-quarter suggests attention to pricing and lease management will remain important for retention.
Safety indicators compare less favorably to many Ocala neighborhoods and sit below national medians; however, recent trends show improvement. Property offenses are estimated to have declined year over year, and violent offense rates show a notable downward shift as well. Interpreting ranks within the 113-neighborhood metro set, the area trails stronger-performing peers today but exhibits a directionally improving trend that investors should monitor over time.
Regional employment access includes corporate services that broaden the workforce draw, supporting renter demand for value-oriented assets. The following employer represents a nearby anchor within commuting range.
- Waste Management — environmental services (29.5 miles)
This 20-unit, 1980-vintage asset offers a straightforward value-add path in a neighborhood with above-metro occupancy and a durable renter base. Based on CRE market data from WDSuite, neighborhood occupancy performance sits in the top tier locally, while a meaningful share of renter-occupied housing units supports demand depth. The 1980 construction suggests selective capital planning and modernization can enhance competitiveness versus older stock while targeting operational upside.
Within a 3-mile radius, population and households have grown and are projected to continue rising, with smaller household sizes indicating more renters entering the market. Elevated ownership costs relative to local incomes reinforce reliance on rental housing, aiding lease retention and supporting long-term demand, though income levels and safety benchmarks warrant disciplined underwriting and rent-to-income management.
- Occupancy outperforms the metro, supporting stable leasing and collections
- Solid renter-occupied share underpins depth of tenant demand
- 1980 vintage allows targeted value-add and systems modernization
- 3-mile growth and smaller households signal a gradually expanding renter pool
- Risks: below-median safety metrics and income sensitivity require prudent rent and expense management