1203 NW 12th Avenue Gainesville Florida | Real Estate for Sale

PRICE REDUCTION~ This is a must see property!! Perfect for multi-family residence. Unique Multi-Family Property with Development Potential | 4 Units in a Triplex Designation | Zoned Commercial & Residential. Discover an incredible investment opportunity with this versatile multi-family property, perfectly positioned on a prime corner parcel near the University of Florida and UF Shands Hospital. Officially designated as a triplex, this property currently offers four income-producing units, making it a rare find with significant future use potential for developers. Property Highlights: Zoning: Commercial and Residential - offering flexible future use and development possibilities. Location: Situated close to UF and Shands, ensuring strong demand for rentals. Income: Consistent year-over-year income growth. Layout & Features: Unit A: 1 bedroom, 1 bathroom apartment with dual entrances to the kitchen and living room. Unit B: 2 bedroom, 2 bathroom apartment with upgraded features. Unit C: Flexible configurationcurrently divided into two 1 bedroom, 1 bathroom apartments (upper and lower levels) with separate entrances. Can be converted back to a 2 bedroom, 2 bathroom unit. Features French doors leading to a private back area. Utilities: Three separate GRU electrical meters forUnits A, B and C. Water and Sewer for all units are on Unit C's GRU bill. Upgrades: New roof, electrical, and HVAC systems installed in 2019.Amenities: Three sheds on the propertyone large and two smaller onesplus extremely tall privacy fencing that surrounds half of the property. Brand new fencing in the back area and side by Unit A.Owner is working on making some minor improvements. Rental Performance: Excellent short-term rental occupancy due to its prime location and updated amenities. This property is not only an immediate income generator but also a fantastic long-term investment with development potential. Whether youre looking to expand your portfolio, capitalize on the booming rental market, or explore future development opportunities, this property offers it all. Dont miss out on this exceptional investment in a high-demand area! There are so many possibilities with this gem. Recent residential appraisal above list price.