Creek Forest - 16 units in Gainesville, FL

$1,950,000

1213 NW 39th Ave, Gainesville, FL 32609

For Sale

Multifamily Garden Low Rise

Active

Last Updated: 01/25/2024

Details:

Building Size: 11,800 sqft

Lot Area: 0.89 acres

Occupancy: 100%

Units: 16

Year Built: 1982

Floors: 2

Offered by Broker

Brian Oen

Realtor

Thomas Group Realty

#3372787

Request Info to Unlock

Ken Mears

Highlights:

Creek Forest is a core-plus multifamily portfolio of four quadraplexes totaling 16 units located in Northwest Gainesville near the intersection of NW 39th Ave and US HWY 441.
Centrally located to major retailers and walking distance to numerous employment opportunities such as Publix Supermarkets, Aldi, Walgreens, CVS, Auto Zone, Dunkin Donuts. Also within close proximity to Lowe's, Subway, Big Lots, Wawa, and numerous other job opportunities in the immediate area.
Built in 1982 with concrete block construction and stucco exteriors, this four-quadruplex portfolio is composed of all 2 bedroom 1 bath units each unit totaling approximately 900SF. The average in-place rent is only $770/month, while remodeled rent comparable units easily justify $1200/month.
Tenants pay all utilities through individual metering directly to the utility company. All units have washers and dryers and the roof was replaced in 2022. Parking for Tenants is located directly in front of the building.

Description:

Creek Forest is a core-plus multifamily portfolio of four quadraplexes totaling 16 units located in Northwest Gainesville near the intersection of NW 39th Ave and US HWY 441.

Centrally located to major retailers and walking distance to numerous employment opportunities such as Publix Supermarkets, Aldi, Walgreens, CVS, Auto Zone, Dunkin Donuts. Also within close proximity to Lowe's, Subway, Big Lots, Wawa, and numerous other job opportunities in the immediate area.

Built in 1982 with concrete block construction and stucco exteriors, this four-quadruplex portfolio is composed of all 2 bedroom 1 bath units each unit totaling approximately 900SF. The average in-place rent is only $770/month, while remodeled rent comparable units easily justify $1200/month.

Tenants pay all utilities through individual metering directly to the utility company. All units have washers and dryers and the roof was replaced in 2022. Parking for Tenants is located directly in front of the building.

Just off NW 13th Street (US HWY 441) and NW 39th Avenue in Gainesville, Florida.