Residential Property - Single Family Residence in Gainesville
Listing Price: $679,000 (Mortgage Calculator →)
Description of Property
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. 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. 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. 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! There are so many possibilities with this gem.
Property Details At A Glance
Property Type: Residential
Property Use or Sub Type: Single Family Residence
City: Gainesville
County: Alachua
Subdivision: Spring Park Sub
Bedrooms: 5
Bathrooms: 5
Sq. Ft. Gross: 2,995
Sq. Ft. Living Area: 2,995
Cost per (heated) sqare foot: $227
Year built: 1941
Annual Tax: $3,976
Taxes and fees can change periodically, and other fees may apply. Please check with your Suncoasteam agent for more details.
Appliances: Washer
Flooring: Vinyl
Pool & Waterfront Info
Private Pool: Not specified
Exterior & Construction
Construction: Wood Siding
Foundation: Crawlspace
Roof: Shingle
Exterior Features: Storage
Floors in Unit: Two
Cooling: Central Air
Heating & Fuel: Electric
Sewer: Public Sewer
Water Source: Public
Lot Information
Lot Size (acres): 0.22
Lot Size (sq. ft.): 9,696 square feet
Front Exposure: North
Legal Description & Other Information
Financing Available: Conventional
Parcel Number: 09496000000
Zoning: OF
Tax Legal Desc.: SPRING PARK NO 4 PB D-13 E 74 1/4 FT OF LOT 6 OR 4610/1528
Section: 32
Range: 20
Listing courtesy of CORNERSTONE REALTY & MANAGEMENT SERVICES 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.