Multifamily Property for Sale in Tallahassee, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Tallahassee, FL 32304

Description

Marcus & Millichap is pleased to present Dior Townhomes, a well built townhome asset located in Tallahassee; Florida's Capital City. Since 2023, 11-unit interiors have been fully renovated, paving the way for a new investor to complete interior renovation plan and hire a local third-party management company. The Property is offered on a free and clear basis. To learn more about the debt available for this property, contact a listing agent. Investment Highlights: • Thirty-Four (34) Unit Townhome Asset Located in Tallahassee, The State Capital of Florida • Built in 1999, the Property Features (34) 2x1.5 Townhome Units with 1,000 Rentable SqFt • Unit Amenities Include Stainless Steel Appliances, Quartz Countertops, Sleek Wood-Grain Cabinets, Extended Breakfast Bars, Vinyl Plank Flooring on The First Floor, Upgraded Light Fixtures, New Bathroom Vanities & Toilets, and More • All Units Have Full Size In-Unit Wash/Dryer Appliances and Connections • In-Place Rents Average 14% Below The Average of The Rent Comparables, Leaving Room For Upside By Setting New Rents To Be In-Line With Nearby Properties • Near-Term Opportunity to Increase the Average Rent by $190+/month, Resulting in Top-Line Annual Revenue Growth of $79,000+ • Operational Value-Add Potential By Changing Management Companies To A Third-Party Company With An Existing Presence And Personnel In The Market. Contact A Listing Agent To Inquire About Potential Management Options

Market Context

This multifamily in Tallahassee, FL is listed for sale. It has been on the market for 52 days. Compare it against other multifamily listings for sale in Tallahassee, FL — <a href="/search/sale/multifamily/florida/tallahassee">view the full market</a>.

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