$850,000
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313 NE 8TH AVE Gainesville, FL 32601
12 Beds
6 Baths
3,566 SqFt
Key Details
Sold Price $850,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,566 sqft
Price per Sqft $238
Subdivision Highlands
MLS Listing ID GC516488
Sold Date 10/31/23
Bedrooms 12
Construction Status Inspections
HOA Y/N No
Originating Board Stellar MLS
Year Built 1937
Annual Tax Amount $7,889
Lot Size 6,969 Sqft
Acres 0.16
Property Description
This income-producing property, located within the sought-after Historic Duckpond district, comprises three contiguous parcels with a total of four buildings. Situated at the corner of 8th Ave and 4th St, this property is strategically positioned just 0.5 miles from Downtown and a mere 1.4 miles from UF.
The property boasts six well-maintained 2-bedroom, 1-bath units, with the majority of these units having undergone kitchen remodels. Additionally, these units feature elegant hardwood floors, inviting living rooms complete with fireplaces, separate dining areas, as well as screened-in and enclosed porches.
Currently, the property is fully occupied, with several long-term tenants in place. Four out of the six units have been remodeled, enhancing their appeal. Notably, all residential units are currently rented at rates below market value, presenting the opportunity for increased rental income through rate adjustments. Current Monthly Gross Income is $6,750. Rents range from $850-$1600 per month.
This property's prime location offers easy access to various amenities and institutions, including UF, downtown Gainesville, Shands Hospital, the VA Hospital, numerous dining options, shopping centers, and more. Furthermore, it is situated only steps away from prominent landmarks such as the Historic Thomas Center, Roper Park, and downtown Gainesville.
As a reminder, please refrain from disturbing the existing tenants, and seize this opportunity to become the owner of a property in the highly desirable Duckpond area.
Location
State FL
County Alachua
Community Highlands
Zoning RSF3
Interior
Interior Features Ceiling Fans(s), Master Bedroom Upstairs, Thermostat, Window Treatments
Heating Electric
Cooling Central Air, Wall/Window Unit(s)
Flooring Ceramic Tile, Tile, Wood
Fireplaces Type Wood Burning
Furnishings Unfurnished
Fireplace true
Appliance Dryer, Electric Water Heater, Exhaust Fan, Range, Range Hood, Refrigerator, Washer
Laundry Outside
Exterior
Exterior Feature French Doors, Sidewalk
Garage Curb Parking, Driveway, On Street, Open, Under Building
Utilities Available BB/HS Internet Available, Cable Available, Electricity Connected, Public, Sewer Connected, Water Connected
Waterfront false
Roof Type Shingle
Parking Type Curb Parking, Driveway, On Street, Open, Under Building
Garage false
Private Pool No
Building
Lot Description Corner Lot, Historic District, City Limits, Landscaped, Near Public Transit, Sidewalk, Paved
Entry Level One
Foundation Brick/Mortar, Crawlspace
Lot Size Range 1/2 to less than 1
Sewer Public Sewer
Water Public
Structure Type Brick
New Construction false
Construction Status Inspections
Schools
Elementary Schools W. A. Metcalfe Elementary School-Al
Middle Schools Westwood Middle School-Al
High Schools Gainesville High School-Al
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Bought with RABELL REALTY GROUP LLC