1203 NW 12TH AVE, GAINESVILLE, FL, 32601
$679,000
Residential Income
Bedrooms
5
Bathrooms
5
Living Area
3,006 Sqft
Lot Size
9,696 Sqft
Price Improvement! Are you ready to embark on your own STR income journey with a turnkey property and established repeat customers?!! This is your chance!! Unique Multi-Family Property with Development Potential | 4 Units in a Triplex Designation | Zoned Commercial & Residential Discover an incredible investment opportunity with this versatile multi-family property, perfectly positioned on a prime corner parcel near the University of Florida and UF Shands Hospital. Officially designated as a triplex, this property currently offers four income-producing units, making it a rare find with significant future use potential for developers. Property Highlights: Zoning: Commercial and Residential – offering flexible future use and development possibilities. Location: Situated close to UF and Shands, ensuring strong demand for rentals. Income: Consistent year-over-year income growth, with a net income of approximately $50,000 in 2023. 2024 is projected to exceed that figure. Layout & Features: Unit A: 1 bedroom, 1 bathroom apartment with dual entrances to the kitchen and living room. Unit B: 2 bedroom, 2 bathroom apartment with upgraded features. Unit C: Flexible configuration—currently divided into two 1 bedroom, 1 bathroom apartments (upper and lower levels) with separate entrances. Can be converted back to a 2 bedroom, 2 bathroom unit. Features French doors leading to a private back area. Utilities: Three separate GRU electrical meters for Units A, B and C. Water and Sewer for all units are on Unit C's GRU bill. Upgrades: New roof, electrical, and HVAC systems installed in 2019. Amenities: Three sheds on the property—one large and two smaller ones—plus extremely tall privacy fencing that surrounds half of the property. Rental Performance: Excellent short-term rental occupancy due to its prime location and updated amenities. This property is not only an immediate income generator but also a fantastic long-term investment with development potential. Whether you’re looking to expand your portfolio, capitalize on the booming rental market, or explore future development opportunities, this property offers it all. Don’t miss out on this exceptional investment in a high-demand area! Call me for a private showing!
Property Details
Property Features Property Features
MLS ID: MFRGC524845 Year Built: 1941
Appliances: Cooktop, Dishwasher, Disposal, Electric Water Heater, Ice Maker, Range, Refrigerator Construction Materials: Concrete, Frame, Wood Siding
Cooling: Central Air Country: US
County Or Parish: Alachua Exterior Features: Outbuildings, Awning(s), Fence, French Doors, Private Mailbox, Storage
Foundation Details: Crawlspace Heating: Electric
Laundry Features: Electric Dryer Hookup, In Kitchen, Inside, Laundry Closet, Other, Upper Level, Washer Hookup Listing Agreement: Exclusive Right To Sell
Listing Terms: Cash, Conventional Lot Features: Corner Lot, Near Public Transit
Other Structures: Shed(s) Parking Features: Assigned, Driveway, Guest, Off Street
Patio And Porch Features: Deck, Front Porch, Side Porch Property Sub Type: Triplex
Property Type: Residential Income Road Responsibility: Public Maintained Road
Road Surface Type: Asphalt Roof: Shingle
Sewer: Public Sewer Showing Requirements: 24 Hour Notice, Appointment Only, Call Before Showing, Call Listing Agent, Do Not Contact Tenants, Listing Agent Must Accompany, Other, See Remarks, ShowingTime
Special Listing Conditions: None Standard Status: Active
State Or Province: FL Utilities: BB/HS Internet Available, Cable Available, Electricity Connected, Phone Available, Public, Sewer Connected, Water Connected
Water Source: Public
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