422 SW 69TH ST, GAINESVILLE, FL, 32607
$2,200,000
Commercial Sale
Living Area
6,148 Sqft
Lot Size
14,810 Sqft
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.
Property Details
Property Features Property Features
MLS ID: MFRO6419379 Year Built: 1984
Appliances: Dishwasher, Dryer, Refrigerator, Washer Construction Materials: Block
Cooling: Central Air Country: US
County Or Parish: Alachua Flooring: Laminate, Tile
Foundation Details: Slab Heating: Central
Income Includes: Rent Only Levels: Two
Listing Agreement: Exclusive Right To Sell Listing Terms: Cash, Commercial Financing
Lot Features: City Limits, Landscaped, Neighbourhood, Paved Occupant Type: Tenant
Possession: Close Of Escrow Property Condition: Completed
Property Sub Type: Multi-Family 5+ Property Type: Commercial Sale
Road Frontage Type: City Street Road Responsibility: Public Maintained Road
Road Surface Type: Paved Roof: Shingle
Security Features: Smoke Detector(s) Sewer: Public Sewer
Showing Requirements: Appointment Only Special Listing Conditions: None
Standard Status: Active State Or Province: FL
Utilities: BB/HS Internet Capable, Electricity Available, Public, Water Connected Water Source: Public
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