18580 NW 234th St - Apartments FOR SALE


High Springs, FL 32643
$900,000 USD
352-871-8324
18580 NW 234th St, High Springs, FL for Sale
$900,000 USD
Apartments - FOR SALE
1/16
null | 9.95% Cap Rate

18580 NW 234th St
High Springs, FL 32643


HIGHLIGHTS

  • Eight-unit multifamily property comprised of two separate quadruplex buildings.
  • Located less than two blocks from Downtown High Springs and its collection of restaurants, shops, and local services.
  • One-bedroom, one-bathroom unit layouts with washer and dryer connections available.
  • Convenient access to Gainesville, the University of Florida, and UF Health employment centers.
  • Close proximity to popular regional recreation destinations including Ginnie Springs, Poe Springs Park, and Blue Springs Park.

OVERVIEW

Fully occupied and centrally located brick quadruplexes (8 units) in the rapidly growing High Springs, FL market for sale. These quads offer a rare combination of location, condition, and stable occupancy. Very limited competing apartment inventory nearby. Both quads are being offered together at $900,000 ($450,000/quad). Located in High Springs, Florida — named the "Friendliest Small Town" by Floridian magazine and known as the "Gateway to the Springs" — this 8-unit portfolio offers the perfect blend of small-town charm and strong investment fundamentals. Situated just 20 miles northwest of Gainesville, High Springs has become a sought-after housing destination for all kinds of professionals, providing a deep, stable tenant pool with a median household income of $94,421. Since 2020, the population has grown by 10%, making it one of the fastest growing Florida markets. All 8 units are 1 bedroom/1 bathroom at 656 SF each, spread across two single-story brick buildings totaling 5,248 SF on 0.68 acres. Every unit is currently occupied with leases in place. In-place rents average $933/unit/month. Market rents in the area easily justify $1,050+/month/unit rental rates, allowing for an immediate income boost without having to do any improvements. Both buildings are professionally managed. Tenants pay all utilities.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

8

PRICE/UNIT

$112,500

CAP RATE

9.95%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Villas at High Springs

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.68 AC

LAND SF

29,621 SF

ZONING

R2

APN/PARCEL ID

00567-000-000,00568-000-000

ASK ABOUT THIS PROPERTY

Beau BeeryThe Multifamily AdvisorsMore Info
352-871-8324

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Beau BeeryThe Multifamily AdvisorsMore Info
352-871-8324

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