Homes for sale - 1203 NW 12TH AVE, Gainesville, FL 32601

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Thu

Dec

Fri

Dec

Sat

Dec

Ricardo Simon

ricardo.simon@lptrealty.com +1(407) 476-6263

$800,000

Est. payment - /mo

3,006 SqFt

Save

UPDATED:

11/08/2024 11:42 PM

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,006 sqft

Price per Sqft $266

Subdivision Spring Park Sub

MLS Listing ID GC524845

HOA Y/N No

Originating Board Stellar MLS

Year Built 1941

Annual Tax Amount $3,192

Lot Size 9,583 Sqft

Acres 0.22

Property Description

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. Currently on month to month rental for $3400.00 per month through December 2024, possibly longer for one tenant.
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.
Owner is working on making some minor improvements.
Rental Performance: Excellent short-term rental occupancy due to its prime location and updated amenities.
Seller Financing: Possible with $400,000 down, 10% interest, and a maximum of 10 years financing.
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!

Location

State FL

County Alachua

Community Spring Park Sub

Zoning OF

Interior

Interior Features Built-in Features, Ceiling Fans(s), Eat-in Kitchen, High Ceilings, Living Room/Dining Room Combo, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Solid Surface Counters, Solid Wood Cabinets, Split Bedroom, Thermostat, Window Treatments

Heating Electric

Cooling Central Air

Fireplace false

Appliance Cooktop, Dishwasher, Disposal, Electric Water Heater, Ice Maker, Range, Refrigerator

Laundry Electric Dryer Hookup, In Kitchen, Inside, Laundry Closet, Other, Upper Level, Washer Hookup

Exterior

Exterior Feature Outbuilding(s), Awning(s), Fence, French Doors, Private Mailbox, Storage

Parking Features Assigned, Driveway, Guest, Off Street

Utilities Available BB/HS Internet Available, Cable Available, Electricity Connected, Phone Available, Public, Sewer Connected, Water Connected

Roof Type Shingle

Porch Deck, Front Porch, Side Porch

Garage false

Private Pool No

Building

Lot Description Corner Lot, Near Public Transit

Foundation Crawlspace

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Public

Structure Type Concrete,Wood Frame,Wood Siding

New Construction false

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional, Owner Financing

Listing Terms Cash, Conventional, Owner Financing

Special Listing Condition None

Read Less Info

Listed by BROXSON REAL ESTATE GROUP

"After my 14-year service to the U.S. NAVY, I have dedicated my life to the real estate industry for the last decade. Now, my mission is to provide you with a smooth and beneficial experience in buying or selling real estate in Central Florida. Call me to learn more."

+1(407) 476-6263

ricardo.simon@lptrealty.com

1203 NW 12TH AVE Gainesville, FL 32601