919 23Rd AveGainesville, FL 32609

Property Details for 919 23Rd Ave

Year built

1947

Lot size

0.36 AC

Property size (Sq ft)

2,398 SF

Zone code

U4

Property type

Office buildings

APN

08703-000-000

APU

8703000000

Description

This exceptional investment opportunity in Gainesville, Florida presents a lucrative multi-family property spanning 3,482 square feet on a 0.36-acre lot. The main house boasts six individually leased bedrooms, each offering tenants a comfortable living space. The property includes a fully equipped kitchen featuring two refrigerators, a washer, a dryer, and other essential appliances. Significant updates enhance the property's value and longevity, including a metal roof installed in 2010, a 200-amp electrical panel upgrade, and comprehensive plumbing renovations throughout the main house. Adding to the income potential is a separate 1,300-square-foot unit, currently leased for $1,400 per month until the end of the year. This detached unit comprises one bedroom, one bathroom, and a loft, equipped with a functional kitchen and three wall-mounted air conditioning units. A practical workshop is also included within this separate unit. This property offers a compelling blend of immediate rental income and long-term investment potential, making it an ideal addition to any real estate portfolio or a smart strategy for those seeking rent-free living. The property is located at 919 NW 23rd Avenue, Gainesville, FL and is priced at $449,900.

• CAP approach

  CAP return

  Valuation

  6%

  $517,848

  6.5%

  $478,014

  7%

  $443,870

• Comparable approach

  Method

  Valuation

  Relative Method

  $163,088

  Geo Method

  $163,088

• Alternative Use

  Use

  Valuation

  Residential

  $592,737

  Hospitality

  $542,944

  Educational

  $451,723

  Medical

  $467,258

  Retail

  $702,680

Location Insight

City

Gainesville

County

Alachua

State

Florida

Latitude

29.6737

Longitude

-82.3344

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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