Quadplex with Individual Laundry
2442 NW 59TH Avenue, Gainesville, FL 32653
For Sale
$380,000
Pending
Residential Income, GAINESVILLE, FL
Property Size3,348 SF
Lot Size0.13 Acres
Days on Market1095
Property Features for 2442 NW 59TH Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Rooms
Pets allowed
Interior features
Appliances
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
individual laundry hook-ups
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
RE/MAX PROFESSIONALS · RE/MAX International
(352) 375-1002
Listed By:
Dada McGlynn · License FL #3112603
(352) 317-5681
Added: Nov 13, 2023
Changed: Nov 6
Last Checked: Nov 11 at 1:06AM
MLS# GC517523
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.
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Investment Insights
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This 3,348-square-foot quadplex contains four residences, each arranged with two bedrooms and one bathroom. Individual laundry hookups serve the units, while the property includes central air, electric heating, brick construction, a shingle roof, and an open floorplan. Recent improvements include three updated water heaters, three updated AC units, three updated refrigerators, refreshed flooring in two units, newer cabinetry in one unit, and an updated stove in one unit.
The 0.13-acre property is located in northwest Gainesville at 2442 NW 59th Avenue. It is within walking distance of the Super Walmart Center and a quick drive from UF Health. Public water and public sewer serve the property, and zoning is PD. Built in 1981, the quadplex also includes dishwasher and refrigerator appliances, with vinyl, ceramic tile, and carpet flooring represented across the units.
The 0.13-acre property is located in northwest Gainesville at 2442 NW 59th Avenue. It is within walking distance of the Super Walmart Center and a quick drive from UF Health. Public water and public sewer serve the property, and zoning is PD. Built in 1981, the quadplex also includes dishwasher and refrigerator appliances, with vinyl, ceramic tile, and carpet flooring represented across the units.
Key Highlights
- Quadplex with four 2‑bedroom, 1‑bath units
- 3,348 square feet on a 0.13‑acre lot
- Individual laundry hookups in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,869
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,380
$657.4K
Cap Rate 7%
$469,557
$469.6K
Cap Rate 9%
$365,211
$365.2K
Market Conditions
NOI Build-Up for 3,348 SF
Gross rent
$50.2K $15.00/SF
− Vacancy
−$3.3K −$0.98/SF
EGI
$47.0K $14.03/SF
− OpEx
−$14.1K −$4.21/SF
NOI
$32.9K $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 Rate 5%
$657,380
Cap Rate 7%
$469,557
Cap Rate 9%
$365,211
Alternative Uses
Best Use
Multifamily LT 5
$469.6K
$410.9K – $547.8K
NOI $32,869 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$421.4K
$368.7K – $491.6K
NOI $29,495 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$829.2K
$725.6K – $967.4K
NOI $58,046 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
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Business Placement
Demographics for 32653, FL
14,397
Population
6,746
Households
2.1
Avg Household Size
45
Median Age
52%
College-Educated
97%
High-School Grad
38.5 sq mi
ZIP Area
374
Density / Sq Mi
$97,700
Median Household Income
$52,523
Median Earnings
$1,130
Median Rent
$273,700
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Gainesville, FL
Properties on Market for Quadplexes in Gainesville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences offer a practical income-property configuration with public water and sewer.
Where is this quadplex located?
The property is located at 2442 NW 59TH Avenue Gainesville, FL.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Quadplex with four 2‑bedroom, 1‑bath units; 3,348 square feet on a 0.13‑acre lot; Individual laundry hookups in each unit
