Duplex with Separate Loft
For Sale
$399,900
919 NW 23rd Ave, Gainesville, FL 32609
Main residence offers flexible bedroom capacity, household appliances, and updated electrical and plumbing systems.
Property Size3,482 SF
Days on Market98
Property Features for 919 NW 23rd Ave
General Information
Standard status
Active
Size
3,482 SF
Property subtype
Multi-Family
Building Details
Building Size
3,482 SF
Year Built
1947
Listing Agency:
Coldwell Banker M.M. Parrish Realtors
Listed By:
Tony Espetia · License #3310460
(352) 284-3131
Source:
Commercialcafe
Added: Jul 18
Changed: Oct 20
Last Checked: Oct 20 at 5:08PM
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 Coldwell Banker M.M. Parrish Realtors
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Investment Insights
Based on property information with market context.
This 3,482-square-foot duplex includes a primary residence with six bedrooms, a furnished kitchen, two refrigerators, a washer and dryer, and additional appliances. The main home has a metal roof updated in 2010, a 200-amp electrical panel, and plumbing updated throughout. A workshop is also part of the property.
Set apart from the main residence, the additional unit measures 1,300 square feet and includes one bedroom, one bathroom, a loft, and a functional kitchen. Three wall-mounted AC units serve the space. The unit is leased through June 2026, providing an existing lease term for the separate accommodation.
Set apart from the main residence, the additional unit measures 1,300 square feet and includes one bedroom, one bathroom, a loft, and a functional kitchen. Three wall-mounted AC units serve the space. The unit is leased through June 2026, providing an existing lease term for the separate accommodation.
Key Highlights
- 3,482 SF duplex property with a separate additional unit
- Main residence includes six bedrooms and a furnished kitchen
- Metal roof updated in 2010
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,185
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,700
$683.7K
Cap Rate 7%
$488,357
$488.4K
Cap Rate 9%
$379,833
$379.8K
Market Conditions
NOI Build-Up for 3,482 SF
Gross rent
$52.2K $15.00/SF
− Vacancy
−$3.4K −$0.98/SF
EGI
$48.8K $14.03/SF
− OpEx
−$14.7K −$4.21/SF
NOI
$34.2K $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%
$683,700
Cap Rate 7%
$488,357
Cap Rate 9%
$379,833
Alternative Uses
Best Use
Multifamily LT 5
$488.4K
$427.3K – $569.8K
NOI $34,185 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$438.2K
$383.4K – $511.3K
NOI $30,675 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$862.4K
$754.6K – $1.01M
NOI $60,370 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
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Business Placement
Demographics for 32609, FL
18,322
Population
8,515
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
117.5 sq mi
ZIP Area
156
Density / Sq Mi
$48,121
Median Household Income
$34,041
Median Earnings
$1,159
Median Rent
$174,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Main residence offers flexible bedroom capacity, household appliances, and updated electrical and plumbing systems.
Where is this duplex located?
The property is located at 919 NW 23rd Ave Gainesville, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3,482 SF duplex property with a separate additional unit; Main residence includes six bedrooms and a furnished kitchen; Metal roof updated in 2010
