John Bagnell
← INNOVATE Real Estate
Multi-Family 5+ at 1615 NW 3RD AVE, GAINESVILLE
Multi-Family 5+ at 1615 NW 3RD AVE, GAINESVILLE, photo 2 of 6
Multi-Family 5+ at 1615 NW 3RD AVE, GAINESVILLE, photo 3 of 6
Multi-Family 5+ at 1615 NW 3RD AVE, GAINESVILLE, photo 4 of 6
Multi-Family 5+ at 1615 NW 3RD AVE, GAINESVILLE, photo 5 of 6
Multi-Family 5+ at 1615 NW 3RD AVE, GAINESVILLE, photo 6 of 6
6 photos

$2,800,000

1615 NW 3RD AVE
GAINESVILLE, FL 32603
Listed by Perry Pursell · COLDWELL BANKER M.M. PARRISH REALTORS
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
1996

About this home

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.

Property details

MLS #
MFRGC538532
Property type
Multi-Family 5+
Subdivision
COLLEGE PARK
Status
Active
Days on market
183
On market date
March 19, 2026
Stories
N/A
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
N/A
Lot size
0.38 acres

Location

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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).

Elementary
CAROLYN BEATRICE PARKER ELEMENTARY
0.32 mi away · Grades 0-5
Nearest school -- attendance-zone data not available here
3.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
527
Student:teacher ratio
16.0:1
District
ALACHUA
Middle
WESTWOOD MIDDLE SCHOOL
1.75 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
2.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
851
Student:teacher ratio
18.9:1
District
ALACHUA
High
A.QUINN JONES CENTER
0.57 mi away · Grades 6-12
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
65
Student:teacher ratio
4.3:1
District
ALACHUA

Walkability

Blended score for GAINESVILLE's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

90
Highly walkable
out of 100
EPA National Walkability Index
16.7 / 20 -- Most walkable
Google Places amenity density
100 / 100
Restaurants & cafes20
Grocery stores6
Parks20
Schools20
Transit stops20
Pharmacies8

Market position

How this listing compares to current activity in GAINESVILLE, from live MLS data.

On the market 183 days -- 87 more days than GAINESVILLE's current average of 96 days.
For reference, the median list price across 1,429 active listings in GAINESVILLE right now is $225,000.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Adjust tax / insurance estimates
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Est. monthly payment
$17,012/mo
$560,000 down
$2,240,000 loan
Principal & interest$14,529
Property tax (est.)$2,333
Home insurance (est.)$150

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Data source: Listing information provided by Stellar MLS (mfrmls) via Trestle/CoreLogic. Last updated 13 days ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.