The Grande at Gainesville
For sale6315 SW 13th St, Gainesville, FL 32608
Property type
Multifamily
Unit / Space count
39
Price
$3,900,000
Building size
19,384 SF
Year built
1964
Lot size
3.39 acres
Property description
The Grande at Gainesville is a 39-unit multifamily community situated on 3.39 acres with prime frontage along SW 13th Street (US-441), providing convenient access to the University of Florida, downtown Gainesville, and major retail corridors. The property offers a 7.29% going-in cap rate on in-place income, with average rents of $1,037 and immediate mark-to-market upside to approximately $1,100. Built in 1964 with durable concrete block construction, the community features a mix of one- and two-bedroom units and has benefited from more than $450,000 in recent capital improvements, including 4 new roofs, landscaping, a repaved parking lot, and fully renovated interiors with granite countertops, stainless steel appliances, and luxury vinyl plank flooring. Located approximately 4 miles from the University of Florida, The Grande at Gainesville benefits from strong and diversified rental demand driven by the university, UF Health Shands, and Gainesville’s broader healthcare and employment base. Residents enjoy convenient access to Butler Plaza, Celebration Pointe, and the area’s extensive retail and dining amenities. The property also features an efficient utility structure, with individually metered electricity paid directly by residents and water and sewer recovered through a RUBS program.
Property highlights
- Going-In Yield: 7.29% cap rate on in-place income (tax- and insurance-adjusted)
- Durable Construction: 39-unit concrete block community built in 1964, situated on 3.39 acres
- Diverse Floorplans: Attractive mix of one- and two-bedroom units
- Embedded Upside: Average in-place rents of $1,037 with immediate mark-to-market upside to approximately $1,100
- Recent Capital Investment: Over $450,000 invested in renovations, including 4 new roofs, landscaping, signage and fencing, a repaved parking lot, pergola lounge area, and mailboxes, plus 100% fully renovated interiors featuring granite countertops, stainless steel appliances, and luxury vinyl plank flooring
- Efficient Utility Structure: Electricity individually metered and paid directly by tenants; water and sewer recovered through a RUBS program
- Prime US-441 Frontage: Positioned directly on SW 13th Street (US-441), one of Gainesville's primary North-South arterials, offering direct connectivity to campus, downtown, and the region's major retail corridors
- Established Retail Corridor: A short drive West to the SW Archer Road / Butler Plaza hub, one of North Central Florida's largest retail destinations, anchored by Target, Walmart Supercenter, Publix, and a deep roster of national tenants, with additional shopping and dining at nearby Celebration Pointe
- University of Florida Proximity: Approximately 4 miles (an 8-minute drive) from the University of Florida, the State's flagship research university with over 60,000 students and 32,000 employees
- Diversified Demand Drivers: UF is the largest employer in the Greater Gainesville area and anchors a stable higher-education and healthcare base alongside UF Health Shands, insulating the local rental market from the tourism and coastal swings seen elsewhere in Florida