Active

$2,200,000

Features:
  • Bedrooms
  • 0 Bathrooms
  • 6148 sq ft
Overview
  • ID: MFRO6419379
  • Bedrooms:
  • Bathrooms: 0
  • Size: 6148 sq ft
Property Details
Remarks
Virtually Staged. Exceptional Turnkey Investment Opportunity in Booming Gainesville, FL! Blair Realty Group, Inc. is pleased to present the Cedar Ridge Villas Portfolio—a stabilized, 94% occupied 16-unit multifamily portfolio offered at a competitive 8.3% current Cap Rate. Comprising two contiguous, legally distinct 8-unit parcels, this portfolio provides an investor with immense structural and financing flexibility. The asset features a perfectly balanced unit mix of eight 1BR/1BA (~675 SF) and eight 2BR/2BA (~875 SF) units. Capital expenditures have been heavily mitigated with recent ownership-funded improvements, including partial roof repairs, new HVAC systems, a down-to-the-studs renovation of unit 422-G, and widespread appliance upgrades. The property benefits from strong, recession-resilient income, including contracted VA supportive housing leases ($2,000/mo for 2BR units) and other government program. Located entirely in FEMA Flood Zone X with NO HOA, the portfolio boasts low operational friction and sits just minutes from I-75, North Florida Regional Medical Center, and the University of Florida. Complete Offering Memorandum available upon request.
Financial Considerations
Price:
$2,200,000
HOA Fee:
N/A
Tax Amount:
$10057.42
Price per SqFt:
$324.58
Tax Legal Description:
CEDAR RIDGE VILLAS PB M-19 LOT 9 OR 5221/2911
Exterior Features
Lot Size:
14810
Lot Features:
City Limits, Landscaped, Neighbourhood, Paved
Waterfront:
No
Parking Spaces:
N/A
Parking:
N/A
Roof:
Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
Bathrooms:
0
Heating:
Central
Cooling:
Central Air
Appliances:
Dishwasher, Dryer, Refrigerator, Washer
Furnished:
No
Floor:
Laminate, Tile
Levels:
Two
Additional Features
Property Sub Type:
Multi-Family 5+
Style:
N/A
Year Built:
1984
Construction Type:
Block
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
N/A
Additional Features 2:
N/A
Map
  • Address
    422 SW 69TH ST
Contact a Professional
Why Choose Us?
  • Communication and Transparency
  • Skilled Negotiation
  • Robust Professional Network
  • After-Sale Support
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