A recently sold property near Gainesville, Florida has caught the attention of real estate enthusiasts. Located at 2404 SW 31st Pl, Gainesville, FL, 32608, this property boasts an impressive 16 beds and 8 baths, making it a multifamily investment opportunity. The property spans a massive 6150 square feet, providing ample space for its residents.
What makes this property even more enticing is its fully rented and stabilized 8-plex setup. Each apartment within the building offers 2 beds and 1 bath, with a comfortable 769 square feet of living space. With 12-month leases in place, the property ensures a steady stream of income for its new owner.
The financials of this investment are equally impressive. The gross monthly rent for the 8-plex is a staggering $8,769. However, it’s important to note that the monthly expenses for the entire building, excluding the mortgage, amount to $1,052. These expenses include HOA fees of $166, taxes of $408, and insurance costs of $478.
While this property has already been sold, it’s worth appreciating the unique features it offered. Its spacious layout, fully rented units, and attractive financials make it a prime example of a successful multifamily investment opportunity in Gainesville, Florida.