Multifamily Portfolio with Buildable
1022 Northwest 3rd Avenue Gainesville, FL 32601
New
For Sale
Contact for pricing
Three well-maintained multifamily buildings totaling 19 bedrooms and 13 full baths, plus a buildable 0.12-acre lot.
Property Size8,166 SF
Price / SF$195.93
Days on Market7
Property Features for 1022 Northwest 3rd Avenue
General Information
Standard status
Active
Size
8,166 SF
Property subtype
Multifamily
Listing Agency:
Bosshardt Realty Services
(352) 502-5407
Listed By:
Marlon Bruce · License #FL SL625253
Source:
Crexi
Added: Jul 23
Changed: Jul 28
Last Checked: Jul 28 at 11:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bosshardt Realty Services
Investment Insights
Based on property information with market context.
This for-sale portfolio includes three well-maintained multifamily buildings offering a total of 19 bedrooms, 13 full baths, and 2 half baths. The offering is structured for existing rental income and also includes an additional buildable 0.12-acre lot, allowing for potential expansion and added future rental revenue.
The property is located within walking distance of Publix and the University of Florida, with campus described as less than three minutes away. For investors or operators seeking a compact, income-producing multifamily package with room to add value through development, this combination of existing units and a buildable lot is an important part of the opportunity.
The property is located within walking distance of Publix and the University of Florida, with campus described as less than three minutes away. For investors or operators seeking a compact, income-producing multifamily package with room to add value through development, this combination of existing units and a buildable lot is an important part of the opportunity.
Key Highlights
- Portfolio includes three well‑maintained multifamily buildings totaling 19 bedrooms and 13 full baths, plus 2 half baths.
- Offering includes a buildable 0.12‑acre lot for future development and additional rental revenue.
- Located within walking distance to Publix and the University of Florida.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $139.1k | $17.04 |
| − Vacancy | −$8.3k | −$1.02 |
| EGI | $130.8k | $16.02 |
| − OpEx | −$58.9k | −$7.21 |
| NOI | $71.9k | $8.81 |
8,166 SF · lease $17.04/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$899.3K – $1.20M
NOI $71,940 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,579 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Multifamily property - Three well-maintained multifamily buildings totaling 19 bedrooms and 13 full baths, plus a buildable 0.12-acre lot.
Where is this multifamily property located?
The property is located at 1022 Northwest 3rd Avenue Gainesville, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Portfolio includes three well‑maintained multifamily buildings totaling 19 bedrooms and 13 full baths, plus 2 half baths.; Offering includes a buildable 0.12‑acre lot for future development and additional rental revenue.; Located within walking distance to Publix and the University of Florida.
