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2560 SW 31ST PL Gainesville, FL 32608
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Key Details
Sold Price $920,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 11,520 sqft
Price per Sqft $79
Subdivision Phoenix
MLS Listing ID GC438356
Sold Date 11/11/20
HOA Fees $250/ann
HOA Y/N Yes
Year Built 1989
Annual Tax Amount $6,624
Property Description
Click the links herein to complete an electronic CA and receive the Offering Memorandum or view the Virtual Tour. Phoenix is a 355 unit HOA subdivision composed of duplexes, quadplexes, 6 plexes, and 8 plexes, of which this offering is for 12 of those units (two 6 plexes side by side). The property is located less than a mile south of the University of Florida and within 5 minutes driving distance to millions of square feet of retail and restaurants, including Butler Plaza, Celebration Pointe, Shands Hospital, the Veterans Administration Headquarters, three Publix centers, and I-75. All units are the same 2 bedroom 2.5 bath layouts measuring nearly 1,100 SF each. Here is the opportunity: The average in-place rent is $800/month with a range of $700-900/month. The last two units rented for $900/month. Rental comps in the immediate submarket support a $950-1,050 rent point for the units with very little upgrades necessary.
Location
State FL
County Alachua
Community Phoenix
Schools
Elementary Schools Idylwild Elementary School-Al
Middle Schools Kanapaha Middle School-Al
High Schools Eastside High School-Al
Others
Acceptable Financing Cash
Membership Fee Required Required
Listing Terms Cash
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Bought with Coldwell Banker M.M. Parrish Realtors