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501 SW 69TH ST Gainesville, FL 32607
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Key Details
Sold Price $350,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,898 sqft
Price per Sqft $120
Subdivision Cedar Ridge Add
MLS Listing ID GC517116
Sold Date 08/30/24
Bedrooms 6
HOA Y/N No
Originating Board Stellar MLS
Year Built 1983
Annual Tax Amount $4,628
Lot Size 10,018 Sqft
Acres 0.23
Property Description
Exceptional Investment Opportunity in Cedar Ridge, Gainesville!
Delight in the potential of this charming triplex nestled in the tranquil Cedar Ridge neighborhood, a prime investment in the heart of SW Gainesville FL. Poised in a rapidly gentrifying area, this property features three units, with two beautifully updated and one ready for your creative vision to enhance its charm and value.
Located in a quiet, family-friendly area, this property enjoys a strong tenant pool, ensuring it's never vacant. Its proximity to local amenities, top-rated schools, and vibrant Gainesville attractions, like the University of Florida and numerous parks and recreational facilities, makes it an attractive option for renters.
Currently fully occupied with rents below market value, there's significant upside potential, with market rents supporting $1,100 to $1,200 per unit. This is a golden chance to increase your revenue with minimal effort. The property features a durable metal roof installed in 2018, ensuring low maintenance costs, and the exterior has been freshly repainted, enhancing its curb appeal.
Gainesville is known for its lush green spaces, vibrant cultural scene, and bustling downtown, offering a perfect blend of urban convenience and natural beauty. With a strong job market and a growing population, it's an ideal location for property investment.
Don't miss out on this fantastic opportunity to own a piece of Gainesville's thriving rental market. A smart investment, whether you're looking to expand your portfolio or stepping into the property investment world. Contact us today to learn more about this promising property!
Location
State FL
County Alachua
Community Cedar Ridge Add
Zoning R-3
Interior
Interior Features Ninguno
Heating Central
Cooling Central Air
Flooring Carpet, Tile, Vinyl
Fireplace false
Exterior
Exterior Feature Other
Utilities Available Cable Available
Roof Type Metal
Garage false
Private Pool No
Building
Foundation Other
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Brick,Vinyl Siding
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Special Listing Condition None
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Bought with ENGEL & VOLKERS GAINESVILLE