Commercial Sale · Multi Family (5+)
1615 NW 3RD AVENUE, GAINESVILLE, FL, 32603
Active134 days on marketListed Mar 19, 2026MLS #GC538532
About this property
The property at a glance
College Park multifamily investment opportunity just steps from the University of Florida. This 13,244 SF property on 0.38 acres, comprising 21 rental units across multiple buildings, is income-producing. Located near Midtown and University Avenue with on-site parking, the property offers strong value-add potential through renovation, repositioning, or redevelopment in one of Gainesville’s most desirable rental markets.
13,244
Building sq ft
$211
Price / sq ft
0.38
Lot acres
1996
Year built
21
Units
3
Buildings
RMU
Zoning
Multi Family (5+)
Property type
The numbers
Investment snapshot
$133,333
Price / unit
21
Units
Estimated payment (illustrative)
Estimated payment
$15,465/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask David to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
4,173
Population
$61,923
Median income
30
Median age
2
Avg household
$377,890
Median home value
$1,346/mo
Median rent
133
Households w/ kids
Consumer profile
There's more to student life than academics. It's about the experience - from classes and homecoming, to making lifetime friends and alumni events. These are students at school, taking classes online, or finding other ways to be students in their daily lives.
The party don't stop until the sun comes up. Loud music, crowds, and shots are a recipe for a great night out for these people.
Making it to church on Sunday, this population is drawn together by their devotion to, primarily Christian, religion. Common activities include worship services and bible studies.
Intentionally preserving memories of lost loved ones, joyful times, or reflecting on painful experiences in the past.
These folks have their head in the game. Whether it's creating a card game tournament with friends or cheering on the home team, these people want to win.
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
Recent sales
What actually sold near 1615 NW 3RD AVENUE
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$915,000
1401 NW 5TH AVENUE
3,300 sqft · $277/sqft · Sold Apr 6, 2026
$9,000
4010 NEWBERRY ROAD UNIT B
Sold Feb 12, 2025
$9,000
4400 NW 36TH AVENUE
Sold May 7, 2026
Your team
The pros in your corner
Your agent
David Ramirez
Real Estate Agent · CENTURY 21 Edge
Tours, offers, and every question about 1615 NW 3RD AVENUE — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 1615 NW 3RD AVENUE.
See it in person
Schedule a tour
Pick a day that works — this goes straight to David's phone and CRM.
Keep looking
Similar properties nearby
Listing courtesy of COLDWELL BANKER M.M. PARRISH REALTORS · Perry Pursell. MLS #GC538532.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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