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    Gainesville Multi-Family Investment Opportunity

    919 NW 23RD AVENUE Gainesville, FL 32609

    919 NW 23RD AVENUE, Gainesville, FL, 32609
    $419,900
    For Sale
    Claim this Listing
    $419,900

    Multi-Family 5+ - GAINESVILLE, FL

    Property Size3,482 SF
    Lot Size0.36 Acres
    Price / SF$120.59
    AddedJun 4, 2024
    Days on Market772
    Last RefreshJul 15 at 7:06 pm

    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 agent Jeff Rimes License #3379326

    Listing office COLDWELL BANKER M.M. PARRISH R 5830 NW 39 AVE, Gainesville, FL

    Listing date Jun 4, 2024

    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 (±1% cap)
    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 (±1% cap)
    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

    Apartment buildings

    Suggested Use

    Parking Lot & Garage HVAC Service Florist (Bike/Boat/Book/etc) Store Locksmith Tanning Salon Catering Service Nursing Home Electrical Service Plumbing Service

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

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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
    Contact an agent
    (352) 335-4999
    We can help!
    Contact an agent
    Jeff Rimes
    Jeff Rimes
    Real Estate License ID: 3379326
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