1424 NE 1ST AVE Gainesville, FL 32641
2 Beds
1 Bath
922 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 922 sqft
Price per Sqft $178
Subdivision Lakeway Grove-In New Gv
MLS Listing ID GC539656
Bedrooms 2
Full Baths 1
Construction Status Completed
HOA Y/N No
Year Built 1947
Annual Tax Amount $1,591
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type Single Family Residence
Source Stellar MLS
Property Description
Welcome to 1424 NE 1st Ave - an affordable opportunity with HUGE income potential just minutes from the University of Florida and downtown Gainesville. Whether you are a first-time homebuyer looking to offset your future housing costs or an investor searching for your next value-add property, this one stands out from the crowd.
This 2 bedroom, 1 bathroom home offers 922 square feet of living space on a spacious lot with U2 zoning, creating the potential for an Accessory Dwelling Unit (ADU) and additional income opportunities over time. Opportunities at this price point with flexible zoning this close to UF are becoming increasingly difficult to find.
The existing home is projected to rent for approximately $1,300 to $1,500 a month, while a future ADU could potentially generate an additional $900 to $1,400 a month depending on configuration and use. Preliminary contractor pricing for ADU development is available upon request, and preferred lender has indicated potential FHA 203k renovation loan eligibility for qualified buyers looking to finance improvements into the purchase. (CREDITS AVAILABLE FROM PREFERRED LENDER AND SELLER TO ASSIST WITH CLOSING COSTS UP TO $3,300)
Located near shopping, dining, parks, major roadways, and one of Florida's largest universities, this property offers strong long-term appeal for owner occupants, student housing demand, mid-term rentals, or buyers looking to build equity through strategic improvements.
If you have been searching for an affordable Gainesville property with flexibility, future upside, and proximity to UF and downtown, this is one you do not want to miss.
Seller is motivated. Schedule your private showing today.
Buyer to independently verify zoning, ADU feasibility, permitting requirements, financing eligibility, rental restrictions, and all projected income estimates.
Location
State FL
County Alachua
Community Lakeway Grove-In New Gv
Area 32641 - Gainesville
Zoning RMF7
Interior
Interior Features Ninguno
Heating Electric
Cooling Central Air
Flooring Vinyl
Furnishings Unfurnished
Fireplace false
Appliance Built-In Oven, Cooktop, Electric Water Heater, Freezer, Refrigerator
Laundry Electric Dryer Hookup, Inside, Laundry Room, Washer Hookup
Exterior
Exterior Feature None
Community Features Street Lights
Utilities Available Cable Connected, Electricity Connected, Fiber Optics, Phone Available, Public, Water Connected
Roof Type Shingle
Porch None
Garage false
Private Pool No
Building
Entry Level One
Foundation Crawlspace
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Architectural Style Traditional
Structure Type Frame
New Construction false
Construction Status Completed
Schools
Elementary Schools Marjorie Kinnan Rawlings Elementary School-Al
Middle Schools Westwood Middle School-Al
High Schools Gainesville High School-Al
Others
Pets Allowed Yes
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/GC539656
