Listed by The Multifamily Advisors
$2,650,000
28-Unit Value-Add Multifamily Near Gainesville, FL
Details
APN 00217-001-000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 21,385
Units 28
Beds 53
Cap Rate 7.10%
NOI $190,000
Occupancy 100%
Tenancy Multi
Class B
Year Built 1983
Buildings 5
Stories 1
Acreage 6.000
Investment Type Value Add
28 Units - Value Add - near Gainesville, FL
Marketing description
Extremely well maintained 28 Units, 53 beds, 6 Acres located in scenic High Springs, FL just 15 minutes northwest of Gainesville (Gainesville MSA). Units can continue to be maintained in current condition for robust cashflow or buyer can engage in accretive value add strategy.
Investment highlights
- Extremely well maintained 28 Units, 53 beds, 6 Acres located in scenic High Springs, FL just 15 minutes northwest of Gainesville (Gainesville MSA). Units can continue to be maintained in current condition for robust cashflow or buyer can engage in accretive value add strategy.
- Fantastic operating asset with over 98% average occupancy
- Low Delinquency and write off history
- Located on a large parcel of 6 acres of land with ability to add 44 additional units
- Average in-place rent of $960 while median area rents in the area sit comfortably at $1,800/month
Listing Contacts
Listed by The Multifamily Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$190,000.00
$15,833.33/mo
Valuation Metrics
0
DSCR
7.17%
Cap Rate
7.17%
ROI
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