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The Villas at High Springs 18580 NW 234th St 8 Unit Apartment Building $1,263,447 CAD ($157,931 CAD/Unit) 9.95% Cap Rate High Springs, FL 32643
Investment Highlights
- Eight-unit multifamily property comprised of two separate quadruplex buildings.
- One-bedroom, one-bathroom unit layouts with washer and dryer connections available.
- Close proximity to popular regional recreation destinations including Ginnie Springs, Poe Springs Park, and Blue Springs Park.
- Located less than two blocks from Downtown High Springs and its collection of restaurants, shops, and local services.
- Convenient access to Gainesville, the University of Florida, and UF Health employment centers.
Executive Summary
Fully occupied and centrally located brick quadruplexes (8 units) in the rapidly growing High Springs, FL market for sale. These quads offer a rare combination of location, condition, and stable occupancy. Very limited competing apartment inventory nearby. Both quads are being offered together at $900,000 ($450,000/quad).
Located in High Springs, Florida — named the "Friendliest Small Town" by Floridian magazine and known as the "Gateway to the Springs" — this 8-unit portfolio offers the perfect blend of small-town charm and strong investment fundamentals. Situated just 20 miles northwest of Gainesville, High Springs has become a sought-after housing destination for all kinds of professionals, providing a deep, stable tenant pool with a median household income of $94,421. Since 2020, the population has grown by 10%, making it one of the fastest growing Florida markets.
All 8 units are 1 bedroom/1 bathroom at 656 SF each, spread across two single-story brick buildings totaling 5,248 SF on 0.68 acres. Every unit is currently occupied with leases in place. In-place rents average $933/unit/month. Market rents in the area easily justify $1,050+/month/unit rental rates, allowing for an immediate income boost without having to do any improvements. Both buildings are professionally managed. Tenants pay all utilities.
Located in High Springs, Florida — named the "Friendliest Small Town" by Floridian magazine and known as the "Gateway to the Springs" — this 8-unit portfolio offers the perfect blend of small-town charm and strong investment fundamentals. Situated just 20 miles northwest of Gainesville, High Springs has become a sought-after housing destination for all kinds of professionals, providing a deep, stable tenant pool with a median household income of $94,421. Since 2020, the population has grown by 10%, making it one of the fastest growing Florida markets.
All 8 units are 1 bedroom/1 bathroom at 656 SF each, spread across two single-story brick buildings totaling 5,248 SF on 0.68 acres. Every unit is currently occupied with leases in place. In-place rents average $933/unit/month. Market rents in the area easily justify $1,050+/month/unit rental rates, allowing for an immediate income boost without having to do any improvements. Both buildings are professionally managed. Tenants pay all utilities.
Property Facts
| Price | $1,263,447 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $157,931 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.68 AC |
| Cap Rate | 9.95% | Building Size | 5,248 SF |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1981 |
| Property Subtype | Apartment | ||
| Zoning | R2 | ||
| Price | $1,263,447 CAD |
| Price Per Unit | $157,931 CAD |
| Sale Type | Investment |
| Cap Rate | 9.95% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.68 AC |
| Building Size | 5,248 SF |
| No. Stories | 1 |
| Year Built | 1981 |
| Zoning | R2 |
Amenities
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 656 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $590,997 CAD | |
| Land Assessment | $245,502 CAD | Total Assessment | $836,499 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$245,502 CAD
Improvements Assessment
$590,997 CAD
Total Assessment
$836,499 CAD
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The Villas at High Springs | 18580 NW 234th St
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