1203 NW 12TH AVE Gainesville, FL 32601
UPDATED:
11/08/2024 11:42 PM
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,006 sqft
Price per Sqft $266
Subdivision Spring Park Sub
MLS Listing ID GC524845
HOA Y/N No
Originating Board Stellar MLS
Year Built 1941
Annual Tax Amount $3,192
Lot Size 9,583 Sqft
Acres 0.22
Property Description
Discover an incredible investment opportunity with this versatile multi-family property, perfectly positioned on a prime corner parcel near the University of Florida and UF Shands Hospital. Officially designated as a triplex, this property currently offers four income-producing units, making it a rare find with significant future use potential for developers.
Property Highlights:
Zoning: Commercial and Residential – offering flexible future use and development possibilities.
Location: Situated close to UF and Shands, ensuring strong demand for rentals.
Income: Consistent year-over-year income growth, with a net income of approximately $50,000 in 2023. 2024 is projected to exceed that figure.
Layout & Features:
Unit A: 1 bedroom, 1 bathroom apartment with dual entrances to the kitchen and living room.
Unit B: 2 bedroom, 2 bathroom apartment with upgraded features.
Unit C: Flexible configuration—currently divided into two 1 bedroom, 1 bathroom apartments (upper and lower levels) with separate entrances. Can be converted back to a 2 bedroom, 2 bathroom unit. Features French doors leading to a private back area. Currently on month to month rental for $3400.00 per month through December 2024, possibly longer for one tenant.
Utilities: Three separate GRU electrical meters for Units A, B and C. Water and Sewer for all units are on Unit C's GRU bill.
Upgrades: New roof, electrical, and HVAC systems installed in 2019.
Amenities: Three sheds on the property—one large and two smaller ones—plus extremely tall privacy fencing that surrounds half of the property.
Owner is working on making some minor improvements.
Rental Performance: Excellent short-term rental occupancy due to its prime location and updated amenities.
Seller Financing: Possible with $400,000 down, 10% interest, and a maximum of 10 years financing.
This property is not only an immediate income generator but also a fantastic long-term investment with development potential. Whether you’re looking to expand your portfolio, capitalize on the booming rental market, or explore future development opportunities, this property offers it all. Don’t miss out on this exceptional investment in a high-demand area!
Location
State FL
County Alachua
Community Spring Park Sub
Zoning OF
Interior
Interior Features Built-in Features, Ceiling Fans(s), Eat-in Kitchen, High Ceilings, Living Room/Dining Room Combo, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Solid Surface Counters, Solid Wood Cabinets, Split Bedroom, Thermostat, Window Treatments
Heating Electric
Cooling Central Air
Fireplace false
Appliance Cooktop, Dishwasher, Disposal, Electric Water Heater, Ice Maker, Range, Refrigerator
Laundry Electric Dryer Hookup, In Kitchen, Inside, Laundry Closet, Other, Upper Level, Washer Hookup
Exterior
Exterior Feature Outbuilding(s), Awning(s), Fence, French Doors, Private Mailbox, Storage
Parking Features Assigned, Driveway, Guest, Off Street
Utilities Available BB/HS Internet Available, Cable Available, Electricity Connected, Phone Available, Public, Sewer Connected, Water Connected
Roof Type Shingle
Porch Deck, Front Porch, Side Porch
Garage false
Private Pool No
Building
Lot Description Corner Lot, Near Public Transit
Foundation Crawlspace
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Concrete,Wood Frame,Wood Siding
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Owner Financing
Listing Terms Cash, Conventional, Owner Financing
Special Listing Condition None
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