Gainesville Fourplex: Turnkey
For Sale
$595,000
1718 SW 69 Ter, Gainesville, FL 32607
Upgraded fourplex in Gainesville, strong cash flow potential, stabilized asset.
Property Size3,720 SF
Days on Market114
Property Features for 1718 SW 69 Ter
General Information
Standard status
Active
Size
3,720 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$10,873
Building Details
Building Size
3,720 SF
Year Built
1981
Units
4
Listing Agency:
(305) 989-6653
Listed By:
Terri Ardines
(305) 989-6653
Source:
Elliman
Added: Apr 28
Changed: Aug 8
Last Checked: Aug 18 at 8:23AM
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 Terri Ardines
Investment Insights
Based on property information with market context.
This upgraded fourplex in Gainesville presents an investment opportunity for immediate income and long-term appreciation. The property features four spacious units, each with 2 bedrooms and 1.5 bathrooms, designed for consistent occupancy and tenant retention. Capital improvements completed in 2024-2025, including flooring, windows, plumbing, and full bathroom upgrades, reduce deferred maintenance and future capital expenditure exposure. The property is positioned in a reliable rental market, benefiting from rental demand driven by the University of Florida and surrounding employment hubs. This asset is well-positioned for stable cash flow and continued rent growth, making it suitable for investors seeking a low-maintenance, income-producing property with upside potential through rental optimization. The bike score is 43, indicating it is somewhat bikeable, and the walk score is 7, indicating car dependence.
Key Highlights
- Turnkey fourplex in Gainesville, a strong rental market.
- Strong cash flow potential with immediate income.
- Four spacious 2BR/1.5BA units with tenant‑friendly layout.
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
$36,521
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
6.14%
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%
$730,420
$730.4K
Cap Rate 7%
$521,729
$521.7K
Cap Rate 9%
$405,789
$405.8K
Market Conditions
NOI Build-Up for 3,720 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
$55.8K $15.00/SF
− Vacancy
−$3.6K −$0.98/SF
EGI
$52.2K $14.03/SF
− OpEx
−$15.7K −$4.21/SF
NOI
$36.5K $9.82/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$730,420
Cap Rate 7%
$521,729
Cap Rate 9%
$405,789
Alternative Uses
Best Use
Multifamily LT 5
$521.7K
$456.5K – $608.7K
NOI $36,521 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$468.2K
$409.7K – $546.2K
NOI $32,772 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$921.4K
$806.2K – $1.07M
NOI $64,496 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
250
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Upgraded fourplex in Gainesville, strong cash flow potential, stabilized asset.
Where is this quadplex located?
The property is located at 1718 SW 69 Ter Gainesville, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Turnkey fourplex in Gainesville, a strong rental market.; Strong cash flow potential with immediate income.; Four spacious 2BR/1.5BA units with tenant‑friendly layout.
