422 Sw 69th Street, Gainesville, FL 32607
- $2,200,000
- 6,148
- SqFt
- List Price
- $2,200,000
- Status
- Active
- Days on Market
- 34
- Price Change
- ▲ $1,980,000 1782336728
- MLS#
- O6419379
- Property Style
- Multi-Family 5+
- Year Built
- 1984
- Living Area
- 6,148
- Lot Size
- 14,810
- Acres
- 0.34
- Total Acreage
- 1/4 to less than 1/2
- Legal Subdivision Name
- Cedar Ridge Villas
- MLS Area Major
- Gainesville
Property Description
Virtually Staged. Exceptional Turnkey Investment Opportunity in Booming Gainesville, FL! Blair Realty Group, Inc. is 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 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.
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Additional Information
- Taxes
- $10057
- Location
- City Limits, Landscaped, Neighbourhood, Paved
- Community Features
- No Deed Restriction
- Property Description
- Two Story
- Zoning
- R-3
- Floor
- Laminate, Tile
- Appliances
- Dishwasher, Dryer, Refrigerator, Washer
- Utilities
- BB/HS Internet Capable, Electricity Available, Public, Water Connected
- Heating
- Central
- Air Conditioning
- Central Air
- Exterior Construction
- Block
- Roof
- Shingle
- Foundation
- Slab
- Pool
- No Pool
- Flood Zone Code
- X
- Parcel ID
- 06655-070-009
- Legal Description
- CEDAR RIDGE VILLAS PB M-19 LOT 9 OR 5221/2911
Listing courtesy of BLAIR REALTY GROUP INC. 407-210-3944
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