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Student Housing

On20

Gainesville, FL

396 Units

Built in 2002

Value Add

Investment Highlights

  • ???????Outstanding Pedestrian Location near Campus: Completed in 2002 and recently renovated, On20 Apartments is located 0.2 miles from the top-ranked, Power 4, University of Florida (UF).
  • Strong Occupancy and Preleasing Velocity: On20 is currently 96 percent occupied and is already 48 percent preleased for the 2025-26 school year.
  • Top-Ranked University of Florida: The property is situated near the WSJ's No. 1 Public University, University of Florida, where enrollment has grown to over 54,814 students in Fall 2023.
  • $7.4M in CapEx Improvements: Since 2023, current ownership has invested $7.4 million in CapEx improvements. Renovations include new appliances, countertops, cabinets and flooring in units. They also repainted all buildings, replaced roofs, added an outdoor fitness area, made significant landscaping and parking lot enhancements, completed a major $1.5 million clubhouse renovation, and installed LED lighting throughout. Apartment upgrades were finished to three different levels: standard, premium
  • Student-Focused Amenities: Community amenities include a resort-style swimming pool, new outdoor fitness area, a renovated clubhouse, and a new 24-hour fitness center. While pedestrian to campus and just a 10-minute drive to Ben Griffin Stadium, the property is also located on the RTS bus line that offers service to the heart of the UF campus.
  • Attractive & Diverse Unit Mix: On20 offers a diverse unit mix with 100 percent private bed/bath parity in a variety of spacious fully-furnished floor plans, including one-, two-, three-, and four-bedroom units, ranging in size from 545 SF, up to 1,356 SF.
  • Future Value-Add Opportunity: Opportunity remains for the next owner to renovate the remaining 145 standard units (36 percent of total units) by improving cabinetry, countertops, sinks, lighting, and plumbing fixtures, with potential to increase rents and returns through strategic renovations and operational improvements.

Exclusively listed by

Broker of Record

Ryan Nee

Senior Vice President/ Division Manager

(954) 245-3400

License(s): FL: BK3154667

Florida

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