Click the links herein to complete an electronic CA and receive the Offering Memorandum or view the Virtual Tour. The Cottages @ Depot Park is a 37 unit apartment complex in downtown Gainesville. The units are composed of seven 1 bedroom 1 baths measuring approximately 512 SF and thirty 2 bedroom 1 baths measuring 576-686 SF. Here is the opportunity: The average in place rent for 1 bedrooms is $730/month but the market rent is clearly $900/month and one of the seven units has already rented for $900.The seller self manages the units but would not manage for the new buyer. The listing broker has several excellent suggestions for local property management. All tenants have 12 month leases expiring July 2021 and the property is 100% occupied. The average tenancy is 5 years. The buildings are frame construction and well cared for.
|Building Size||22,792 SF|