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Description
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.
Property Highlights
Property Type: Commercial - Multiple
Cooling: Central Air
Heating: Central
Lot Size: 0.34 Acres
Roof Type: Shingle
Stories: 2.0
Taxes: $10,057
Year Built: 1984
General Information
County: Alachua
Subdivision: CEDAR RIDGE VILLAS
Listed By:
Reuben Simmonds, Jr
BLAIR REALTY GROUP INC
407-210-3944
MLS ID: O6419379
Property Features
Appliances: Dishwasher, Dryer, Refrigerator, Washer
Days on Site: 1
Directions: From Archer Rd & I-75, go north on I-75 to Newberry Rd, go left onto Newberry, go left on NW 75th Ave, take a left on SW 8th Ave, take a left on SW 67th Terrance, take a left on SW 4th Pl, 3rd building on the right. Leave the parking lot, go right, turn
Exterior: Block
Flood Zone Code: X
Flooring: Laminate, Tile
Foundation: Slab
Home Warranty Y/N: No
Listing Terms: Cash, Commercial Financing
Lot: City Limits, Landscaped, Neighbourhood, Paved
Lot Dimensions: 0.34
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Multi-Family 5+
Sale Includes: Building(s) and Land, Furniture/Fixtures, Leases
Security: Smoke Detector(s)
Sewer: Public Sewer
Showing Instructions: Appointment Only
Special Sale Provisions: None
Units: 8
Utilities: BB/HS Internet Capable, Electricity Available, Public, Water Connected
Water: Public
Water Access Y/N: No
Zoning: R-3
Shown By
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422 SW 69th Street, Gainesville, FL 32607.
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