Turnkey 16-Unit Multifamily
For Sale
$2,200,000
422 SW 69TH STREET, Gainesville, FL 32607
Stabilized 16-unit portfolio with 1BR and 2BR mix, recently upgraded HVAC, and expanded appliance improvements.
Property Size6,778 SF
Price / SF$324.58
Days on Market75
Property Features for 422 SW 69TH STREET
General Information
Standard status
Active
Size
6,778 SF
Property subtype
Multi-Family 5+
Occupancy
94%
Additional Details
Cap Rate
8.3%
Multifamily Units
16
Amenities
0.34 acres, City Limits, Landscaped, Neighbourhood, Paved
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 06655-070-009, Public Survey Range: 19, Public Survey Section: 4, Annual Amount: $10,057.4, Tax Book Number: M-19, Legal Description: CEDAR RIDGE VILLAS PB M-19 LOT 9 OR 5221/2911, Lot: 9, Year: 2025, Zoning: R-3
Laminate, Tile
Net Operating Income: $194,362, Rent Only
Central Air
Central
Listing ID: MFRO6419379, Standard Status: Active, MLS Status: Active, Property Subtype: Multi-Family 5+, On market as of 2026-06-24, 57 days on market, Special Conditions: None
Built in 1984, Living area: 6148, Living area units: Square Feet, 2 stories, Levels: Two, Construction Materials: Block
Subdivision: CEDAR RIDGE VILLAS, MLS Area (Major): 32607 - Gainesville, County/Parish: Alachua
Completed
BB/HS Internet Capable, Electricity Available, Public, Water Connected, Water Source: Public, 8 separate electric meters
Slab
Close Of Escrow
Frontage Type: City Street, Road Responsibility: Public Maintained Road, Road Surface: Paved
Smoke Detector(s)
Dishwasher, Dryer, Refrigerator, Washer
Building Details
Year Built
1984
Listing Agency:
BLAIR REALTY GROUP INC
(407) 210-3944
Listed By:
Reuben Simmonds, Jr · License #680620
(407) 782-1067
Source:
Miharaandassociates
Added: Jun 24
Changed: Sep 5
Last Checked: Sep 5 at 6:55AM
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 BLAIR REALTY GROUP INC
Investment Insights
Based on property information with market context.
Cedar Ridge Villas Portfolio is a stabilized 16-unit multifamily offering comprising two contiguous, legally distinct 8-unit parcels. The unit mix is eight 1BR/1BA units and eight 2BR/2BA units. Recent ownership-funded capital work includes partial roof repairs, new HVAC systems, a down-to-the-studs renovation of unit 422-G, and widespread appliance upgrades.
The portfolio is reported to be 94% occupied and benefits from a contracted VA supportive housing lease structure for the 2BR units, along with other government program income. The property is located entirely in FEMA Flood Zone X and is described as having no HOA. The offering also notes proximity to I-75, North Florida Regional Medical Center, and the University of Florida.
Complete details are available in the Offering Memorandum upon request.
The portfolio is reported to be 94% occupied and benefits from a contracted VA supportive housing lease structure for the 2BR units, along with other government program income. The property is located entirely in FEMA Flood Zone X and is described as having no HOA. The offering also notes proximity to I-75, North Florida Regional Medical Center, and the University of Florida.
Complete details are available in the Offering Memorandum upon request.
Key Highlights
- Stabilized 16‑unit multifamily portfolio built in 1984, 94% occupied
- Unit mix includes eight 1BR/1BA (~675 SF) and eight 2BR/2BA (~875 SF)
- Two contiguous, legally distinct 8‑unit parcels provide portfolio flexibility
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
94%
Occupancy
Location Intelligence
Trade Area within ½ mile
960
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?
Apartment building - Stabilized 16-unit portfolio with 1BR and 2BR mix, recently upgraded HVAC, and expanded appliance improvements.
Where is this apartment building located?
The property is located at 422 SW 69TH STREET Gainesville, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Stabilized 16‑unit multifamily portfolio built in 1984, 94% occupied; Unit mix includes eight 1BR/1BA (~675 SF) and eight 2BR/2BA (~875 SF); Two contiguous, legally distinct 8‑unit parcels provide portfolio flexibility
