422 SW 69TH STREET at

422 SW 69TH STREET

For sale Days on market 57

$2,200,000

$358/sq ft

$1,980,000
Price Increased

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Overview

Year Built

1984

Sqft

6148

Property Type

Multi Family (5+)

Property Description

Virtually Staged. One or more photo(s) was virtually staged. Exceptional Turnkey Investment Opportunity in Booming Gainesville, FL! I'm 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

MLS#

O6419379

Total Floor in Bldg

Address

422 69TH SW

City

Gainesville

State/county

Zip/Postal Code

32607

Area

Cedar Ridge Villas

Country

United States

HOA

Yes

Assoc Fee

$--

Assoc Fee Pd

Tax Amount

$10,057

Maint Fee

$--

Tax Year

2025

Dishwasher

Dryer

Refrigerator

Washer

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