2321 SW 31ST Pl Gainesville, FL 32608
Well-maintained quadplex with four leased two-bedroom, one-bath units and a 2022 metal roof.
Property Features for 2321 SW 31ST Pl
General Information
- Standard status
- Active
- Size
- 3,360 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1983
Listing office FIRST CHOICE REALTY OF NORTH FLORIDA LLC (352) 514-9508
Listing date Jun 17, 2026
Source Elliman
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All listing content including descriptions, pricing, images are the copyrighted material of FIRST CHOICE REALTY OF NORTH FLORIDA LLC
Investment Insights
Based on property information with market context.
The property is located in Gainesville at 2321 SW 31ST Pl, in a convenient area near shopping, dining, public transportation, parks, and major roadways. The public remarks also note proximity to University of Florida and several healthcare and destination uses, including UF Health Shands Hospital, the Malcolm Randall VA Medical Center, and the UF College of Veterinary Medicine.
For investors seeking a fully leased multifamily asset, this quadplex provides a straightforward structure of four similarly configured units. The consistency of unit type and the presence of common in-unit features like tile flooring and kitchen cabinet storage may appeal to operators looking to maintain steady leasing in a market positioned near schools, healthcare, and retail amenities.
Key Highlights
- Well‑maintained quadplex built in 1983 with four 2‑bedroom, 1‑bath units
- Each unit offers approximately 840 SF, with tile flooring and functional layouts
- All four units are currently leased, generating $4,400/month in gross rental income ($52,800 annually)
Local Financial Insights For Multifamily LT 5
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 | $50.4k | $15.00 |
| − Vacancy | −$3.3k | −$0.98 |
| EGI | $47.1k | $14.03 |
| − OpEx | −$14.1k | −$4.21 |
| NOI | $33.0k | $9.82 |
