$2,180,000

About This Property

CASH COW! Offered at an 8.5% CAP RATE...Rental leads currently pouring in at an $875 rent rate!! Still lots of added value opportunities to go. 38 unit property less than 10 minutes from the University of Florida Gators campus & downtown Gainesville! 15 minutes from Santa Fe College. Situated on a beautiful, peaceful prairie just outside of the city. Very well kept (8) block 4-plexes, (1) 5-plex and a Single Family home. Add value instantly with increased rent rates. Many are long term tenants. Annual net income is current. All units pay between $700-$900. Great location, easy to rent. On-site coin operated laundry facility. Roughly 30 units have been updated as needed with fresh paint, ceramic tile throughout, upgraded cabinets & appliances. Driveway has been freshly paved from front to back. On site management office with efficiency unit attached could possibly be a 39th unit. Please do not visit property without appointment and do not disturb the tenants. Great for 1031 exchange. Opportunity to transform into Student Housing for the fast growing Gainesville area!! Call the Listing Agent with any questions.

infoProperty Details

Property Type

Residential Income

Year Built

1964

Living Area

600 sqft

Lot Size

3.39 acres

Bathrooms

0

Ownership

Fee Simple

Days on Market

418

List Date

Sep 3, 2019

Sold Date

chairInterior Features

yardExterior & Lot

Listed By

REAL LIVING CASA FINA REALTY

813-569-6294

mailContact Matthew