$1,800,000

323 NW 19th Street

Gainesville FL, 32603

Description

This 0.66 acre student housing development site is zoned U-5, which allows for 75 units per acre and is located in the highly sought after College Park area across from the UF football stadium.The bedroom equation within this zoning district is 2.75 beds per unit allowing for 135 beds per right (0.66 acre x 75 units/acre = 49 units x 2.75 beds per unit = 135 beds).The zoning also allows up to 4 stories on the site, however, a very small portion on the NW corner of the property is within 100 feet of a single family zoned home. The zoning states that only the portion of the subject property that is within the 100 foot buffer is limited to 3 stories in height. The buyer/developer would create a small step up in height from 3 to 4 stories in that NW corner.The property currently has an older single family home on it fronting NW 19th Street, only three blocks north of University Avenue. The property does not fall within any flood zone or wetlands area. All utilities serve the site. The property is owned free and clear by the sellers. It is in close proximity to several other highly successful multi-story apartment developments with similar zoning densities per acre already achieved on those sites.

Details

MLS#428413
Sub-TypeResale
StatusActive
Days On Site8

Features

ZoningU5
Acreage0.66

Market Activity 32603

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Area Information

StateFL
CountyAlachua
CityGainesville
Zip Code32603
AreaAlachua
Listing VS Median (in 32603)
Price:
$1,800,000
low | high
Med:
$1,800,000
50% of Average
On Site:
8
low | high
Med:
8
100% of Average
Listing Updated: 09/20/2019
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