$3,200,000

1624 NW 2nd Avenue

Gainesville FL, 32603

Description

The Saunders House Apartments are located two blocks North of the University of Florida. The Saunders House apartments are located in a high growth with multiple new and expanding projects. The University of Florida boasts of over 50,000 students, is a top ten university and a world class athletic program. There are three buildings: Building 1: Are 6 units being leased as short term rentals in an Air B&B style. Each unit is two bedroom and two baths. All are nicely furnished, have equipped kitchens, and have weekly housekeeping. The building is located a short walk from the Football and Basketball facilities and much of campus. Building 2: Consists of 6 units rented on a yearly basis and are mostly student rentals. Building 3: Is the historic Saunders House built after WW II to house Veteran Students coming back from the war. It has a 3 bedroom 1 bath and a 2 Bedroom 1 bath on the ground floor and 8 individual units upstairs. This is not a typically managed buy a X Cap Rate opportunity. It is more for an organization wanting to take advantage of the proximity to UF and Shands Hospitals or a buyer with a vision for expanding on the current operation and holding for the bright future to come.

Details

MLS#418183
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1996
Days On Site510

Features

SQ Feet13,244
Units17

Market Activity 32603

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Area Information

StateFL
CountyAlachua
CityGainesville
Zip Code32603
AreaAlachua
Listing VS Median (in 32603)
Price:
$3,200,000
low | high
Med:
$6,148
100% of Average
SqFt:
13,244
low | high
Med:
1,909
100% of Average
$ / SqFt:
$242
low | high
Med:
$3
100% of Average
On Site:
510
low | high
Med:
138.5
100% of Average
Listing Updated: 01/19/2020
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