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    230 2Nd Ave Gainesville, FL 32601

    Sponsored
    For Sale
    $7,000,000

    32-Unit Multifamily Complex, 100% Occupancy

    Property size:
    36,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional Class A multifamily property, the Palms Condominiums, presents a compelling investment opportunity in the vibrant downtown Gainesville, Florida market. Located at 230 SW 2nd Ave, Gainesville, FL 32601, this 2008-built, four-story building encompasses 36,000 square feet on a 0.26-acre lot. The property boasts 32 residential units, each featuring two bedrooms and two bathrooms, with diverse floor plans catering to a range of tenant needs. Currently enjoying 100% occupancy, this asset offers immediate and substantial cash flow. Residents enjoy a community pool within a shared common area. The building is zoned DT and comprises a single structure with 72 total beds. Priced at $7,000,000, this represents a compelling price per unit of $218,750 and a price per square foot of $194.44. The property's strong performance, prime location, and attractive amenities make it an ideal addition to any investment portfolio. This offering includes majority ownership of the complex. This is a rare opportunity to acquire a well-maintained, high-occupancy multifamily asset in a thriving Florida market. The property is currently operating as an apartment building, single-family rental portfolio, and student housing.

    Property Features for 230 2Nd Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    36,000 SF
    Class
    A
    Lot Size
    11,326 SF

    Building Details

    Year Built
    2008
    Buildings
    1
    Stories
    4
    Units
    32

    HighLights

    • 32 well‑maintained units.
    • 100% occupancy.
    • Majority ownership included.
    • 32 two‑bedroom, two‑bathroom units with diverse floor plans.
    • Community pool.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Palms Condominiums Condominium Complex Anthem Tattoo Parlor Tattoo Shop Gainesville Palms Condominium Complex

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3277234
    Latitude
    29.6504895

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    FAQs

    What type of property is this?
    Multifamily property - 32-Unit Multifamily Complex, 100% Occupancy
    Where is this multifamily property located?
    The property is located at 230 2Nd Ave Gainesville, FL.
    What is the asking price?
    The asking price for this property is $7,000,000.
    What are key features of this property?
    This property features: 32 well-maintained units.; 100% occupancy.; Majority ownership included.
    Request Owner's contact information
    230 2Nd Ave Gainesville, FL 32601
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    230 2Nd Ave Gainesville, FL 32601
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