1203 NW 12TH AVENUE GAINESVILLE FL 32601 MLS #GC524845 | Gary Kusher | Florida Real Estate

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!