230 2Nd Ave Gainesville, FL 32601
- Office buildings
- 1,726 SF
- 0.14 lot acres
Current Use by Public Records
- The Palms Condominiums / Condominium Complex
- Anthem Tattoo Parlor / Tattoo Shop
- Gainesville Palms / Condominium Complex
Property Details for 230 2Nd Ave
- Year built
- 1930
- Lot size
- 0.14 lot acres
- Property size
- 1,726 SF
- Zone code
- DT
- Property type
- Office buildings
- APN
- 14258-000-000
- APU
- 14258000000
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gainesville
- County
- Alachua
- State
- Florida
- Longitude
- -82.3276
- Latitude
- 29.6536
- CBSA code
- 23540
- CBSA name
- GAINESVILLE, FL METROPOLITAN STATISTICAL AREA
