4251 21St StGainesville, FL 32607

Property Details for 4251 21St St

Year built

1981

Lot size

0.51 AC

Property size (Sq ft)

10,800 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

Oak Terrace Apartments presents a compelling investment opportunity in Gainesville, Florida. This stabilized, Class B multifamily complex boasts 12 units, totaling 10,800 square feet, situated on a 0.51-acre lot. The property comprises two, two-story buildings, featuring eight 2-bedroom, 1.5-bath townhouses and four 2-bedroom, 1-bath flats, each unit offering 900 square feet of living space. Built in 1981 and 1982 with durable concrete block construction, the property has undergone recent, comprehensive renovations, both cosmetic and mechanical, enhancing its appeal and value. Currently, the complex enjoys an average monthly rent of $1,400 per unit, generating a substantial net operating income (NOI) of $132,037 and a 6.29% cap rate. The asking price is $2,100,000, representing a price per unit of $175,000. Conveniently located in southwest Gainesville near Butler Plaza and the University of Florida, the property benefits from proximity to major retailers, including Target, Walmart, and Publix. The property includes 20 parking spaces, and tenants are responsible for all utilities via individual metering. All units feature washer and dryer hookups. The property's zoning is U9. This is a 1031 exchange eligible property. This prime location and strong financial performance make Oak Terrace Apartments an exceptional addition to any investment portfolio.

Location Insight

City

Gainesville

County

Alachua

State

Florida

Latitude

29.6327

Longitude

-82.3887

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].