2901 Northwest 14th Street, Gainesville, FL 32605

PROPERTY DESCRIPTION

The property is a 22-unit multifamily portfolio totaling 14,430 square feet across three concrete block buildings on 0.96 acres, positioned within walking distance to several restaurants and shops and within two miles of the University of Florida. The unit mix includes 17 one-bedroom/one-bath units and five two-bedroom/one-bath units, with tenants responsible for all utilities. Several units have been renovated, providing an investor with the ability to continue interior updates, increase rents toward market levels, and improve overall curb appeal through targeted landscaping enhancements. Current in-place rents are below market, with one bedroom units averaging $900 compared to estimated market rents of $1,100, and two-bedroom units averaging $975 compared to estimated market rents of $1,400. The MU-1 zoning and existing site configuration may also provide additional density potential, including the opportunity to remove the centrally located duplex and construct additional multifamily units in its place.