Listed by Lee & Associates Gainesville
$2,100,000
110 SE 8th Street - Sunnyside Villas
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,480
Class B
Year Built 1977
Acreage 1.250
Zoning U3
14-Unit Multifamily Property for Sale
Marketing description
This 14-unit, single-story multifamily property totals approximately 13,480 square feet and is situated on 1.25 acres, offering an efficient, low-density layout. The unit mix consists of twelve 2-bedroom/1-bath units and two 2-bedroom/2-bath units, with all units having undergone interior renovations within the past 10 years and a new roof installed in 2016.
The property is zoned U3, allowing for continued residential use with potential for future redevelopment or increased density. Tenants are responsible for all utilities, providing operational efficiency, with current average in-place rents of $1,375 per month and demonstrated upside to approximately $1,500 per month with minimal additional investment.
Investment highlights
- 14-unit multifamily investment property
- Nicely renovated and new roof installed in 2016
- Close proximity to University Avenue and Main Street, two of the city’s primary east-west and north-south corridors
- Within walking distance to Downtown Gainesville and Depot Park, and less than one mile from the University of Florida
- Zoned U3 with potential for increased density
Listing Contacts
Listed by Lee & Associates Gainesville
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