$2,180,000
$3,100,000
29.7%For more information regarding the value of a property, please contact us for a free consultation.
600 SqFt
SOLD DATE : 01/13/2022
Key Details
Sold Price $2,180,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 600 sqft
Price per Sqft $3,633
Subdivision Brinsons Add Mackey-Hudson Tr
MLS Listing ID T3196401
Sold Date 01/13/22
HOA Y/N No
Year Built 1964
Annual Tax Amount $27,330
Lot Size 3.390 Acres
Acres 3.39
Lot Dimensions 190x776
Property Sub-Type Multi-Family
Property Description
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.
Location
State FL
County Alachua
Community Brinsons Add Mackey-Hudson Tr
Area 32608 - Gainesville
Zoning R-2
Interior
Interior Features Ceiling Fans(s), Window Treatments
Heating Central, Wall Units / Window Unit
Cooling Central Air, Wall/Window Unit(s)
Flooring Carpet, Tile
Fireplace false
Appliance Convection Oven, Dryer, Refrigerator, Washer
Laundry Laundry Room
Exterior
Exterior Feature Fence
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Private, Public
Amenities Available Laundry
View Trees/Woods, Water
Roof Type Shingle
Porch Rear Porch
Garage false
Private Pool No
Building
Lot Description Private
Entry Level One
Lot Size Range 2 to less than 5
Sewer Private Sewer
Water Public
Structure Type Block
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition None
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