Creek Forest
Multifamily | 16 Units | $125,000/unit
Marketing description
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.
Investment 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 and UF Shands Hospital, Alachua County’s largest employers
- Walkable to shopping and dining including Publix, Aldi, and Walgreens
- Recent CapEx includes new roofs in 2022 and plumbing on select units
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