#GC528578, Elliot Larkin, Listing Office: FLORIDA HOMES REALTY & MORTGAGE JAX
1203 NW 12th Ave Gainesville, FL 32601
Property details
About 1203 NW 12th Ave
Price Improvement! 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, with a net income of approximately $50,000 in 2023. 2024 is projected to exceed that figure. 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 configuration—currently 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 for Units 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 property—one large and two smaller ones—plus extremely tall privacy fencing that surrounds half of the property. 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 you’re looking to expand your portfolio, capitalize on the booming rental market, or explore future development opportunities, this property offers it all. Don’t miss out on this exceptional investment in a high-demand area! Call me for a private showing!
Highlights
Summary
- MLS Number: GC524845
- MLS Name: MFRMLS
- Office Name: BROXSON REAL ESTATE GROUP
- Office Phone: (352) 278-4648
- Listing Agent: Mark Kjeseth
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Last updated on: 3/10/2025, 8:19:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$749,000
1203 NW 12th Ave
$8,894
closing credit¹
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Price information
Property sales
Date | Event | Price |
---|---|---|
Jun 29, 2018 | Home Sold | $130,000 |
Tax history
Year | Assessment | Property Tax |
---|---|---|
2023 | $138,622 | $3,165 |
2022 | $132,310 | $2,935 |
2021 | $119,263 | $2,935 |
2019 | $119,263 | $2,914 |
2018 | $120,000 | $2,780 |
2017 | $80,540 | $1,409 |
History based on county public records data.
Nearby schools
2
W.A. Metcalfe Elementary School
Public District KG-5
0.4 mi
•1250 NE 18th Ave
7
Boulware Springs Charter
Public Charter KG-5
0.7 mi
•1303 NE 23rd Ave
4
Joseph Williams Elementary School
Public Magnet KG-5
1.3 mi
•1245 SE 7th Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $40,948. The majority of Gainesville, FL residents have income between $35k-100k annually. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.
Similar homes for sale
This home is located at 1203 NW 12th Ave in Gainesville, FL and zip code 32601 in the Eastside / Northeast Gainesville neighborhood. This 3,006 square foot home, which was built in 1941, sits on a 0.22 acre lot. Features: 0 bedroom, 0 bathroom. It has been listed on Rocket Homes since September 5, 2024 and is currently priced at $749,000.
While more than 17 listings in Gainesville, FL in February 2025 were sold above asking price, there were more than 30 listings sold at asking price, and more than 84 were sold below. The inventory of homes for sale in Gainesville, FL between January and February 2025 increased by 11.2%. In February 2025 median list price was $316,141 and the average listing age was 80 days.