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$499,000 • living size area 3463 sqft
A money making machine with development potential! two structures: an 8/3 and 2/1 on 1/4 acre located 1.5 blocks from uf and 0.5 blocks from innovation square. it has been rented at 100% capacity for the past 8 years with tenants being large student organizations such as the christian student association and fraternities. it currently rents for $5500/month, $66000/year and has expenses of $4800/year in repairs, $5846/year in taxes, $4355/year in insurance, and $6600/year in property mgmt. thus it is priced for a cap rate of 8.9%. it is leased thru 7/31/13 with new tenants to begin in august with a rent increase to $5750/month. at that time, the cap rate jumps to 9.5%!!! a very good deal for an investor!Multi Family -
1106 SW 4TH, GAINESVILLE, FL 32603
Date Sold 10-30-2013
Sold Price$475,000 Asking Price$499,000
Share by:
- Living 3463sqft
- Taxes: Register to see
- Year Built 1939
-
Days on market:
287 day(s) Original Price:
$499,000-
Price per sqft:
$144.09 Tax Legal Description:
UNIVERSITY HGTS MB 104-10 E 23.8 FT OF LOT 9 ALL LOT 11 & W 11.2 FT LOT 13 BK 5 OR 3096/0717 (Complete, lengthy legal in listing office.)Tax Year:
2012-
MLS:
GC338950 -
Property Type:
Multi Family -
Parking:
6 to 12 Spaces
Construction Type:
BrickRoof:
ShingleCooling Description:
Central AirHeating Description:
Exhaust FanFloor Description:
CarpetLot Features:
Other Street Lights
Description
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