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422 SW 69th Street

Gainesville, FL

Listing Details

  • $2,200,000
  • MLS# O6419379
  • Type Commercial - Multiple
  • Status Active
  • 6,778
    Square Feet
  • 0.340 acres
    Lot Size
  • 1984
    Year Built

Description

Virtually Staged. One or more photo(s) was virtually staged. Exceptional Turnkey Investment Opportunity in Booming Gainesville, FL! I'm pleased to present the Cedar Ridge Villas Portfolio-a stabilized, 94% occupied 16-unit multifamily portfolio offered at a competitive 8.3% current Cap Rate. Comprising two contiguous, legally distinct 8-unit parcels, this portfolio provides an investor with immense structural and financing flexibility. The asset features a perfectly balanced unit mix of eight 1BR/1BA (~675 SF) and eight 2BR/2BA (~875 SF) units. Capital expenditures have been heavily mitigated with recent ownership-funded improvements, including... Read more partial roof repairs, new HVAC systems, a down-to-the-studs renovation of unit 422-G, and widespread appliance upgrades. The property benefits from strong, recession-resilient income, including contracted VA supportive housing leases ($2,000/mo for 2BR units) and other government program. Located entirely in FEMA Flood Zone X with NO HOA, the portfolio boasts low operational friction and sits just minutes from I-75, North Florida Regional Medical Center, and the University of Florida. Complete Offering Memorandum available upon request.

Key Features

No amenity information available.

View All Features
422 SW 69th Street
Gainesville, FL 32607
Subdivision
CEDAR RIDGE VILLAS
County
Alachua

Contact the Agent

Luxury Homes Specialist
Contact the Listing Agent
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All Property Features

  • Property Type: Commercial - Multiple
  • Appliances: Dishwasher, Dryer, Refrigerator, Washer
  • Cooling: Central Air
  • Days on Site: 55
  • Directions: From Archer Rd & I-75, go north on I-75 to Newberry Rd, go left onto Newberry, go left on NW 75th Ave, take a left on SW 8th Ave, take a left on SW 67th Terrance, take a left on SW 4th Pl, 3rd building on the right. Leave the parking lot, go right, turn
  • Exterior: Block
  • Flood Zone Code: X
  • Flooring: Laminate, Tile
  • Foundation: Slab
  • Heating: Central
  • Home Warranty Y/N: No
  • Listing Terms: Cash, Commercial Financing
  • Lot Description: City Limits, Landscaped, Neighbourhood, Paved
  • Lot Dimensions: 0.34
  • Lot Size: 0.34 Acres
  • Ownership: Fee Simple
  • Property Attached Y/N: No
  • Property Sub-Type: Multi-Family 5+
  • Roof Type: Shingle
  • Sale Includes: Building(s) and Land, Furniture/Fixtures, Leases
  • Security: Smoke Detector(s)
  • Sewer: Public Sewer
  • Showing Instructions: Appointment Only
  • Special Sale Provisions: None
  • Stories: 2.0
  • Taxes: $10,057
  • Units: 8
  • Utilities: BB/HS Internet Capable, Electricity Available, Public, Water Connected
  • Water: Public
  • Water Access Y/N: No
  • Year Built: 1984
  • Zoning: R-3