422 Sw 69th Street, Gainesville, FL 32607
sale
$2,200,000
|
Other
Courtesy Of Blair Realty Group, Inc.
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.
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Property Features
- Age: 41-50 Years Old
- Amenities: Security System
- Appliance: Dishwasher
- Appliance: Refrigerator
- Appliance: Dryer
- Appliance: Washer
- Architecture Style: Other
- Building Units: 8
- Cooling System: Central Air
- Exterior Type: Block
- Floor Covering: Laminate
- Floor Covering: Tile
- Heating System: Central
- Legal Description: CEDAR RIDGE VILLAS PB M-19 LOT 9 OR 5221/2911
- MLSID: O6419379
- Roof Type: Shingle
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