The Story

This is a Class C value-add off market deal in Gainesville, FL that the seller wishes to keep confidential.  Addresses below are not actual addresses but are near the subject offering. This is for 84 of 280 units in a homeowner's association of quadraplexes and duplexes. It is best if you email me for the marketing package and confidentiality agreement so I can share financials. Please only serious qualified investors. Seller will require proof of ability to buy before going to contract so keep that in mind. 

· This is 26 parcels (10 duplexes and 16 quadraplexes). 
· Represents a 9.00% cap rate on easy-to-achieve Pro-forma, 6.41% in place cap rate and current owner self manages.
· 84 units total, all 2/1s averaging 882 SF 
· Concrete block with brick veneer with avg build age of 1984
· 95% occupancy with only 1 unit behind on rent
· 15 of 26 roofs replaced in last 5 years
· Tenants pay electric, water, sewer, and garbage

Description

1: 1: This is a Class C value-add off market deal in Gainesville, FL that the seller wishes to keep confidential.  Addresses below are not actual addresses but are near the subject offering. This is for 84 of 280 units in a homeowner's association of quadraplexes and duplexes. It is best if you email me for the marketing package and confidentiality agreement so I can share financials. Please only serious qualified investors. Seller will require proof of ability to buy before going to contract so keep that in mind. 

· This is 26 parcels (10 duplexes and 16 quadraplexes). 
· Represents a 9.00% cap rate on easy-to-achieve Pro-forma, 6.41% in place cap rate and current owner self manages.
· 84 units total, all 2/1s averaging 882 SF 
· Concrete block with brick veneer with avg build age of 1984
· 95% occupancy with only 1 unit behind on rent
· 15 of 26 roofs replaced in last 5 years
· Tenants pay electric, water, sewer, and garbage

Details

MLS#Z444666
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site43

Features

SQ Feet74,088
Units84
Building(s)26

Market Activity 32653

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Area Information
StateFL
CityGainesville
Zip Code32653
Listing VS Median (in 32653)
Price:
$4,500,000
low | high
Med:
$260,000
100% of Average
SqFt:
74,088
low | high
Med:
1,541
100% of Average
$ / SqFt:
$61
low | high
Med:
$169
100% of Average
On Site:
43
low | high
Med:
81
53.086419753086% of Average
Listing Updated: 08/21/2020
Listing Provided By: Beau Beery of Coldwell Banker M.M. Parrish Realtors
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