Investment Homes Near UF
21 SW 23rd Terrace Gainesville, FL 32607
21 SW 23rd Terrace, Gainesville, FL, 32607
Contact for pricing
For Sale
Contact for pricing
Two fully leased properties near UF, ideal for investors.
Property Size5,833 SF
Price / SF$252.70
Days on Market157
Property Features for 21 SW 23rd Terrace
General Information
- Standard status
- Active
- Size
- 5,833 SF
- Property subtype
- Multifamily
Listing Agency
The Multifamily Advisors
Listed by
Joe Klenck · License #FLSL3555950
Source
Crexi
Added: Feb 10 Checked: Jul 15 at 11:30 am
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 The Multifamily Advisors
Investment Insights
Based on property information with market context.
Two investment homes are available in close proximity to the University of Florida's Law School. Both properties have a history of 100% occupancy. One property, located at 21 SW 23rd Ter, features 5 bedrooms and 3.5 bathrooms. It includes two kitchens, concrete block construction, and a wrap-around balcony that overlooks a large backyard and patio area. The second property, located at 111 SW 23rd Ter, offers 5 bedrooms and 3 bathrooms, concrete block construction, a large deck, and a backyard concrete area with a basketball court. The properties are currently leased through July 2026 for $4,000 per month, with renewal leases through July 2027 in the process of being signed. Tenants are responsible for all utilities, and both properties are professionally managed. The combined property size is 5833 square feet. These properties are suitable for alumni, parents of future students, investors, or future homeowners seeking a central location.
Key Highlights
- Prime investment opportunity with two properties near UF Law School.
- Currently leased through July 2026 for $4,000/month, with renewals in process through July 2027.
- Proven 100% occupancy history.
Local 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 | $99.4k | $17.04 |
| − Vacancy | −$6.0k | −$1.02 |
| EGI | $93.4k | $16.02 |
| − OpEx | −$42.0k | −$7.21 |
| NOI | $51.4k | $8.81 |
5,833 SF · lease $17.04/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$734.1K
$642.3K – $856.5K
NOI $51,387 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.69M
NOI $101,130 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Palace
Nightclub
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Two fully leased properties near UF, ideal for investors.
Where is this apartment building located?
The property is located at 21 SW 23rd Terrace Gainesville, FL.
What is the asking price?
The asking price for this property is $1,474,000.
What are key features of this property?
This property features: Prime investment opportunity with two properties near UF Law School.; Currently leased through July 2026 for $4,000/month, with renewals in process through July 2027.; Proven 100% occupancy history.
