Multi-Family - GAINESVILLE, FL

Creek Forest is a core-plus multifamily portfolio of four quadraplexes totaling 16 units located in Northwest Gainesville near the intersection of NW 39th Ave and US HWY 441. Centrally located to major retailers and walking distance to numerous employment opportunities such as Publix Supermarkets, Aldi, Walgreens, CVS, Auto Zone, and Dunkin Donuts. Also within close proximity to Lowe's, Subway, Big Lots, Wawa, and numerous other job opportunities in the immediate area. Built-in 1982 with concrete block construction and stucco exteriors, this four-quadruplex portfolio is composed of fifteen (15) 2 bedroom 1 bath units and one 1 bed one bath unit, each unit totaling approximately 900SF. The average in-place rent is only $770/month, while remodeled rent comparable units easily justify $1200/month with minimal improvements. All current tenant leases that expire at the end of this year will be renewed at $950/month. Tenants pay all utilities through individual metering directly to the utility company. All units have washers and dryers and the roof was replaced in 2022. Parking for Tenants is located directly in front of the building.