This income-producing property, located within the sought-after Historic Duckpond district, comprises three contiguous parcels with a total of four buildings. Situated at the corner of 8th Ave and 4th St, this property is strategically positioned just 0.5 miles from Downtown and a mere 1.4 miles from UF.
The property boasts six well-maintained 2-bedroom, 1-bath units, with the majority of these units having undergone kitchen remodels. Additionally, these units feature elegant hardwood floors, inviting living rooms complete with fireplaces, separate dining areas, as well as screened-in and enclosed porches.
Currently, the property is fully occupied, with several long-term tenants in place. Four out of the six units have been remodeled, enhancing their appeal. Notably, all residential units are currently rented at rates below market value, presenting the opportunity for increased rental income through rate adjustments. Current Monthly Gross Income is $6,750. Rents range from $850-$1600 per month.
This property's prime location offers easy access to various amenities and institutions, including UF, downtown Gainesville, Shands Hospital, the VA Hospital, numerous dining options, shopping centers, and more. Furthermore, it is situated only steps away from prominent landmarks such as the Historic Thomas Center, Roper Park, and downtown Gainesville.
As a reminder, please refrain from disturbing the existing tenants, and seize this opportunity to become the owner of a property in the highly desirable Duckpond area.