780 NE 23rd Ave

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780 NE 23rd Ave

Gainesville, FL 32609
Asking Price
$399K
Asset Type
Residential Land
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Development site encompassing 4.83 acres in Gainesville
  • RMF6 zoning allows for 48 residential units
  • Asking price for the land is $399,000
  • Residential land asset located in North Central Florida
  • Strategically positioned to address local multifamily housing needs

What's Special

Gainesville serves as a hub for education and healthcare in North Central Florida, driven by the presence of the University of Florida and a robust medical sector. This 4.83-acre parcel at 780 NE 23rd Ave provides a strategic development site within this growing regional economy. Zoned RMF6, the property is primed for residential expansion to support the local housing demand. Given the current zoning designations, the site accommodates the construction of a 48-unit multifamily complex. Investors and developers can capitalize on the land's potential to provide dense, modern residential options near established urban infrastructure. The acreage offers a clean slate for projects aiming to increase the regional supply of apartment housing, aligning with the consistent growth patterns observed throughout the Gainesville metropolitan area.

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NOI
$80,000
Cap Rate
20.05%
DSCR
3.38
Strong
Cash-on-Cash
47.04%
Monthly Payment
$1,974.034
Annual Cash Flow
$56,311.588

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