Gainesville Multi-Family Investment
919 NW 23RD AVENUE Gainesville, FL 32609
919 NW 23RD AVENUE, Gainesville, FL, 32609
$419,900
For Sale
$419,900
Multi-Family 5+ - GAINESVILLE, FL
Property Size3,482 SF
Lot Size0.36 Acres
Price / SF$120.59
Days on Market774
Property Features for 919 NW 23RD AVENUE
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- OF
- Standard status
- Active
- APN
- 08703-000-000
- Size
- 3,482 SF
- Lot size
- 0.36 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 5905
Utilities
- Cooling system
- Central Air, Multi Units, Wall/Window Unit(s), Window Unit(s)
Building Details
- Year built
- 1947
- Building materials
- Asbestos
- Architectural style
- Other
Listing Agency
COLDWELL BANKER M.M. PARRISH R
(352) 335-4999
5830 NW 39 AVE, Gainesville, FL
Listed by
Jeff Rimes · License #3379326
(352) 335-4999
Added: Jun 4, 2024 Checked: Jul 17 at 5:06 am
MLS# GC522595
Listing URL
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-family property in Gainesville, Florida, presents a solid investment opportunity. The main house features six bedrooms that could be individually leased for extra income. It comes complete with some furnishings, including a fully equipped kitchen with two refrigerators, a washer and dryer, and other appliances. The property has a metal roof updated in 2010, along with an updated 200 amp panel and plumbing throughout the main home. Separate from the main house is a 1300 square foot one-bedroom, one-bathroom unit with a loft, currently rented through June 2026 for $1400 per month. This unit is also equipped with a functional kitchen and three wall-mounted AC units, plus a functional workshop. The property lot size is 0.36 acres.
Key Highlights
- Rental income from a separate 1300 sqft one bedroom unit leased through June 2026 at $1400/month
- Six‑bedroom main house offers potential for individual room rentals and income generation
- Updated 200 amp electrical panel and plumbing throughout the main house
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.3k | $17.04 |
| − Vacancy | −$3.6k | −$1.02 |
| EGI | $55.8k | $16.02 |
| − OpEx | −$25.1k | −$7.21 |
| NOI | $30.7k | $8.81 |
3,482 SF · lease $17.04/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$438.2K
$383.4K – $511.3K
NOI $30,675 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$862.4K
$754.6K – $1.01M
NOI $60,370 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multi-family property with rental income potential in Gainesville, Florida.
Where is this apartment building located?
The property is located at 919 NW 23RD AVENUE Gainesville, FL.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Rental income from a separate 1300 sqft one bedroom unit leased through June 2026 at $1400/month; Six‑bedroom main house offers potential for individual room rentals and income generation; Updated 200 amp electrical panel and plumbing throughout the main house
