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6109 NW 23RD TERRACE
GAINESVILLE, FL 32653

Residential Multi Family (Quadruplex)

0.1 Acres
3600 Sqft Living Area

8 Bedrooms

0 Bathrooms (0 Full, 0 Half)

Year Built: 1979

$480,000

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Property Description

Pine Ridge is a 280 unit multifamily community of quadplexes and duplexes located in Northwest Gainesville near the intersection of NW 34th St and US HWY 441. Centrally located to major retailers such as Super Wal-Mart, Tractor Supply, Home Depot, Advanced Auto Parts, Dunkin Donuts, ABC Liquor, and walking distance to numerous employment opportunities like Defy Gainesville and the new Amazon Distribution center. Also within close proximity to the Gainesville YMCA, Subway, Waffle House, the Farmer’s Market, and numerous other job opportunities in the immediate area. Built in 1979 with concrete brick exteriors and brick veneer siding, this quadruplex (4 units) is one of the larger properties in the community, composed of all 2 bedroom 1 bath units boasting 900 SF each. The average in-place rent is only $919/month, while comparable remodeled units easily justify $1,100 per month in rent. Tenants pay all utilities through individual metering directly to the utility company. All units have washer and dryer hookups and the roof was replaced in 2015. Parking for Tenants is located directly in front of the building.