Updated Quadplex With Laundry
For Sale
$380,000
Pending
2442 NW 59TH, Gainesville, FL 32653
Four residential units feature private laundry connections and a consistent two-bedroom, one-bathroom layout.
Property Size3,348 SF
Days on Market58
Property Features for 2442 NW 59TH
General Information
Standard status
Pending
Size
3,348 SF
Property subtype
Investment
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$35,940
Taxes and HOA fees
Annual Taxes
$3,570
Amenities
individual laundry hook-ups
Building Details
Building Size
3,348 SF
Year Built
1981
Units
4
Listing Agency:
RE/MAX Professionals
Listed By:
Dada McGlynn · License #3112603
(352) 317-5681
Source:
Elliman
Added: Aug 13
Changed: Oct 7
Last Checked: Oct 7 at 1:44PM
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 RE/MAX Professionals
Investment Insights
Based on property information with market context.
This 1981-built quadplex contains four residential units, each arranged with 2 bedrooms and 1 bathroom. Every unit has individual laundry hookups, supporting separate household operations. Recent improvements include 3 replacement water heaters, 3 updated AC systems, and 3 newer refrigerators. Flooring has been refreshed in 2 units, while another received newer cabinetry and an updated stove.
The property is located at 2442 NW 59TH in Gainesville, Florida. It is within walking distance of the Super Walmart Center and has access to UF Health by car. The surrounding area is rated Somewhat Bikeable with a bikeScore of 28 and Car-Dependent with a walkScore of 4.
The property is located at 2442 NW 59TH in Gainesville, Florida. It is within walking distance of the Super Walmart Center and has access to UF Health by car. The surrounding area is rated Somewhat Bikeable with a bikeScore of 28 and Car-Dependent with a walkScore of 4.
Key Highlights
- Four‑unit quadplex built in 1981
- Each unit includes 2 bedrooms and 1 bathroom
- Individual laundry hookups in every 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.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Explore this area
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
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 - Four residential units feature private laundry connections and a consistent two-bedroom, one-bathroom layout.
Where is this quadplex located?
The property is located at 2442 NW 59TH 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: Four‑unit quadplex built in 1981; Each unit includes 2 bedrooms and 1 bathroom; Individual laundry hookups in every unit
