Six-Unit Apartment
For Sale
$970,000
1110 SW 62 Terrace, Gainesville, FL 32607
Residential Income, GAINESVILLE, FL
Property Size6,294 SF
Lot Size0.54 Acres
Price / SF$154.12
Days on Market94
Property Features for 1110 SW 62 Terrace
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R=2A
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 6, Bathroom 11, Bedroom 4, Bedroom 6, Bathroom 5, Bathroom 9, Bathroom 7, Bathroom 8, Bedroom 11, Bedroom 3, Bathroom 3, Bedroom 8, Bathroom 10, Bathroom 1, Bathroom 12, Bathroom 4, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 7, Bedroom 9, Bedroom 10, Bedroom 12, Bedroom 5
Pets allowed
Cats OK, Dogs OK
Interior features
Ceiling Fans(s)
Exterior features
Garden, Private Yard
Appliances
Range, Refrigerator
Subdivision
SUGARFOOT OAKS
Lot features
In County
View
City
Directions
From Home Depot on SW 75TH ST, L on SW 8TH AVE, R on 11TH Terrace, 6 plex is on the left.
Standard status
Active
APN
06675-020-010
Size
6,294 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
SUGARFOOT OAKS PB J-66 LOT 10 OR 4482/1339
Tax Annual Amount
10290
Legal Description
SUGARFOOT OAKS PB J-66 LOT 10 OR 4482/1339
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
2
Number of units
6
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
GREEN TREE REALTY INC
(352) 377-0020
Listed By:
Hong-Loan Ngo · License #3118935
(352) 871-8878
Added: Jun 11
Changed: Sep 12
Last Checked: Sep 12 at 11:06PM
MLS# GC541053
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6-unit apartment property contains six matching residences, each configured with two bedrooms and 1.5 bathrooms. Bedrooms are positioned upstairs, while the main living area and kitchen occupy the lower level. Exterior washer and dryer hookups serve the units. The 6,294-square-foot property was built in 1984 and uses block construction with partial wood components, shingle roofing, laminate flooring, central air, and electric central heating. Individual residences include ranges, refrigerators, and ceiling fans.
The 0.54-acre property is located behind Oaks Mall in Gainesville, near the University of Florida, Shands, VA hospitals, North Florida hospitals, Sam’s, and shopping centers. Bus stops are approximately 1 1/2 blocks away. The property is zoned R=2A and has public water and public sewer, with cable available.
The 0.54-acre property is located behind Oaks Mall in Gainesville, near the University of Florida, Shands, VA hospitals, North Florida hospitals, Sam’s, and shopping centers. Bus stops are approximately 1 1/2 blocks away. The property is zoned R=2A and has public water and public sewer, with cable available.
Key Highlights
- Six‑unit apartment property with six 2‑bedroom, 1.5‑bath residences
- 6,294 square feet on 0.54 acres
- Bedrooms upstairs with living areas and kitchens downstairs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,448
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,108,960
$1.1M
Cap Rate 7%
$792,114
$792.1K
Cap Rate 9%
$616,089
$616.1K
Market Conditions
NOI Build-Up for 6,294 SF
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.
Gross rent
$107.2K $17.04/SF
− Vacancy
−$6.4K −$1.02/SF
EGI
$100.8K $16.02/SF
− OpEx
−$45.4K −$7.21/SF
NOI
$55.4K $8.81/SF
Area
Gainesville, FL
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,108,960
Cap Rate 7%
$792,114
Cap Rate 9%
$616,089
Alternative Uses
Best Use
Apartment 5plus
$792.1K
$693.1K – $924.1K
NOI $55,448 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,123 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Explore this area
Business Placement
Demographics for 32607, FL
35,420
Population
16,465
Households
2.2
Avg Household Size
28
Median Age
53%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,811
Density / Sq Mi
$46,517
Median Household Income
$30,690
Median Earnings
$1,222
Median Rent
$297,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six two-level residences offer private outdoor washer and dryer hookups in a location near shopping, healthcare, and transit.
Where is this apartment building located?
The property is located at 1110 SW 62 Terrace Gainesville, FL.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Six‑unit apartment property with six 2‑bedroom, 1.5‑bath residences; 6,294 square feet on 0.54 acres; Bedrooms upstairs with living areas and kitchens downstairs
