Four-Unit Apartment
For Sale
$624,900
6908 SW 6TH PLACE, Gainesville, FL 32607
Updated four-apartment property with separate utility metering and refreshed interiors.
Property Size4,824 SF
Price / SF$129.54
Days on Market600
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Property Features for 6908 SW 6TH PLACE
General Information
Standard status
Active
Size
4,824 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 4BR/2BA
Multifamily Units
4
Additional Details
Average Monthly Rent
$1,550
Taxes and HOA fees
Annual Taxes
$8,747
Building Details
Year Built
1980
Listing Agency:
MACERA REALTY GROUP INC
(407) 246-1677
Listed By:
Peter Macera · License #704056
(407) 970-2104
Source:
Exitrealty
Added: Feb 22, 2025
Changed: Sep 2
Last Checked: Sep 15 at 6:03AM
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 MACERA REALTY GROUP INC
Investment Insights
Based on property information with market context.
This 4,824-square-foot quadplex, built in 1980, contains four two-bedroom, two-bath apartments. The property has received extensive recent improvements, including replacement of all four HVAC systems inside and out in 2024, new bedroom flooring and interior paint throughout the units, and new appliance packages in three apartments.
Each apartment is separately utility-metered. Three leases began in February 2025, while the fourth is renewing in April at the same monthly rent; specific rental amounts are omitted here. The property is in Gainesville near schools, shopping, and dining.
Each apartment is separately utility-metered. Three leases began in February 2025, while the fourth is renewing in April at the same monthly rent; specific rental amounts are omitted here. The property is in Gainesville near schools, shopping, and dining.
Key Highlights
- Four apartments, each configured with 2 bedrooms and 2 bathrooms
- 4,824 square feet; built in 1980
- All four HVAC units replaced inside and out in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,360
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$947,200
$947.2K
Cap Rate 7%
$676,571
$676.6K
Cap Rate 9%
$526,222
$526.2K
Market Conditions
NOI Build-Up for 4,824 SF
Gross rent
$72.4K $15.00/SF
− Vacancy
−$4.7K −$0.98/SF
EGI
$67.7K $14.03/SF
− OpEx
−$20.3K −$4.21/SF
NOI
$47.4K $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%
$947,200
Cap Rate 7%
$676,571
Cap Rate 9%
$526,222
Alternative Uses
Best Use
Multifamily LT 5
$676.6K
$592.0K – $789.3K
NOI $47,360 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$607.1K
$531.2K – $708.3K
NOI $42,498 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.19M
$1.05M – $1.39M
NOI $83,637 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Updated four-apartment property with separate utility metering and refreshed interiors.
Where is this quadplex located?
The property is located at 6908 SW 6TH PLACE Gainesville, FL.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Four apartments, each configured with 2 bedrooms and 2 bathrooms; 4,824 square feet; built in 1980; All four HVAC units replaced inside and out in 2024
