Residential Property - Single Family Residence in Gainesville
Listing Price: $164,900 (Mortgage Calculator →)
Description of Property
One or more photo(s) has been virtually staged. INVESTORS, HOUSE HACKERS, AND FIRST-TIME HOME BUYERS... YOU DON'T WANT TO MISS THIS! Welcome to 1424 NE 1st Ave - an affordable opportunity with HUGE income potential just minutes from the University of Florida and downtown Gainesville. Whether you are a first-time homebuyer looking to offset your future housing costs or an investor searching for your next value-add property, this one stands out from the crowd. This 2 bedroom, 1 bathroom home offers 922 square feet of living space on a spacious lot with U2 zoning, creating the potential for an Accessory Dwelling Unit (ADU) and additional income opportunities over time. Opportunities at this price point with flexible zoning this close to UF are becoming increasingly difficult to find. The existing home is projected to rent for approximately $1,300 to $1,500 a month, while a future ADU could potentially generate an additional $900 to $1,400 a month depending on configuration and use. Preliminary contractor pricing for ADU development is available upon request, and preferred lender has indicated potential FHA 203k renovation loan eligibility for qualified buyers looking to finance improvements into the purchase. (CREDITS AVAILABLE FROM PREFERRED LENDER AND SELLER TO ASSIST WITH CLOSING COSTS UP TO $3,300) Located near shopping, dining, parks, major roadways, and one of Florida’s largest universities, this property offers strong long-term appeal for owner occupants, student housing demand, mid-term rentals, or buyers looking to build equity through strategic improvements. If you have been searching for an affordable Gainesville property with flexibility, future upside, and proximity to UF and downtown, this is one you do not want to miss. Seller is motivated. Schedule your private showing today. Buyer to independently verify zoning, ADU feasibility, permitting requirements, financing eligibility, rental restrictions, and all projected income estimates.
Property Details At A Glance
Property Type: Residential
Property Use or Sub Type: Single Family Residence
City: Gainesville
County: Alachua
Subdivision: Lakeway Grove-in New Gv
Bedrooms: 2
Bathrooms: 1
Sq. Ft. Gross: 922
Sq. Ft. Living Area: 922
Cost per (heated) sqare foot: $179
Year built: 1947
Annual Tax: $1,591
Taxes and fees can change periodically, and other fees may apply. Please check with your Suncoasteam agent for more details.
Appliances: Refrigerator
Flooring: Vinyl
Schools
Elementary School: Marjorie Kinnan Rawlings Elementary School-AL
Middle/Junior High School: Westwood Middle School-AL
High School: Gainesville High School-AL
Pool & Waterfront Info
Private Pool: Not specified
Exterior & Construction
Architectural Style: Traditional
Construction: Wood Frame
Foundation: Crawlspace
Roof: Shingle
Exterior Features: None
Floors in Unit: One
Cooling: Central Air
Heating & Fuel: Electric
Patio & Porch Features: None
Sewer: Public Sewer
Water Source: Public
Lot Information
Lot Size (acres): 0.14
Lot Size (sq. ft.): 6,098 square feet
Front Exposure: South
Legal Description & Other Information
Financing Available: VA Loan
Parcel Number: 11711000000
Zoning: RMF7
Pets Allowed/Pet Policies: Yes
Tax Legal Desc.: LAKEWAY GROVES PB C-14 LOT 3 BK B OR 1313/411
Section: 4
Range: 20
Listing courtesy of ARIUM REAL ESTATE, LLC. The information relating to real estate for sale on this website comes in part from the My Florida Regional MLS DBA Stellar MLS. This information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.