1213 NW 39th Ave - Apartments FOR SALE


Gainesville, FL 32609- Northwest Gainesville
$2,000,000 USD
904-252-2823
1213 NW 39th Ave, Gainesville, FL for Sale
$2,000,000 USD
Apartments - FOR SALE
1/4
null | 6.09% Cap Rate

1213 NW 39th Ave
Gainesville, FL 32609
Northwest Gainesville


HIGHLIGHTS

  • Value-add opportunity with potential $200 per unit upside in average rents
  • 100% occupancy with strong rental history
  • Concrete block construction
  • Separate meters for electricity
  • Proximate to the University of Florida andUF Shands Hospital, Alachua County’s largest employers

OVERVIEW

Colliers Florida Multifamily Team is pleased to present Creek Forest, a 16-unit multifamily property located in Gainesville, Florida. The offering includes four separately parceled quadplexes (buildings C, D, E, G). The unit mix consists of 15 two-bedroom/one-bathroom and 1 one-bedroom/one-bathroom. Each unit is separately metered for electricity and has washer/dryer hookups, tile flooring, laminate countertops, and white or black appliances throughout. The property is well positioned near major demand drivers including the #1 public university in the country, the University of Florida and is walkable to shopping and dining destinations like Publix, Aldi and Walgreens. New Ownership will have the ability to capitalize on below market rents by raising them to current asking rents on renewals or implement a value-add strategy of upgrading unit interiors and raising rents to market on average of $200/month per unit.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$82 USD /SF

# OF UNITS

16

PRICE/UNIT

$125,000

CAP RATE

6.09%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Creek Forest

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

RMF7

APN/PARCEL ID

08266-003-001,08266-003-002,08266-004-001,08266-004-002

ASK ABOUT THIS PROPERTY

Bennett HarrellColliersMore Info
904-252-2823

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Bennett HarrellColliersMore Info
904-252-2823

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.