$2,200,000
Active · 5 days on market · MLS# MFRO6419379
| Living area | 6,148 sq ft |
|---|---|
| Lot size | 0.34 acres |
| Year built | 1984 |
| Property type | Multi-Family 5+ |
| Waterfront | Yes |
| Annual taxes | $10,057 |
| County | Alachua |
Virtually Staged. Exceptional Turnkey Investment Opportunity in Booming Gainesville, FL! Blair Realty Group, Inc. is pleased to present the Cedar Ridge Villas Portfolio—a stabilized, 94% occupied 16-unit multifamily portfolio offered at a competitive 8.3% current Cap Rate. Comprising two contiguous, legally distinct 8-unit parcels, this portfolio provides an investor with immense structural and financing flexibility. The asset features a perfectly balanced unit mix of eight 1BR/1BA (~675 SF) and eight 2BR/2BA (~875 SF) units. Capital expenditures have been heavily mitigated with recent ownership-funded improvements, including partial roof repairs, new HVAC systems, a down-to-the-studs renovation of unit 422-G, and widespread appliance upgrades. The property benefits from strong, recession-resilient income, including contracted VA supportive housing leases ($2,000/mo for 2BR units) and other government program. Located entirely in FEMA Flood Zone X with NO HOA, the portfolio boasts low operational friction and sits just minutes from I-75, North Florida Regional Medical Center, and the University of Florida. Complete Offering Memorandum available upon request.
Listing courtesy of Reuben Simmonds, Jr, BLAIR REALTY GROUP INC. Presented by MC Homes Realty Inc · 727432218.