Multifamily Property for Sale in Tallahassee, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Tallahassee, FL 32301

Description

Marcus & Millichap is pleased to present Elevate on Cascades, a 100-bed student housing community located in Tallahassee, FL, offering a compelling physical and operational value-add opportunity in one of the market’s most rapidly evolving submarkets. Positioned within Tallahassee's most transformative urban infill corridor, Elevate on Cascades benefits from a highly walkable location to both Florida State University and Florida A&M University, supporting consistent demand and long-term occupancy stability. Featuring true bed/bath parity with covered parking, Elevate on Cascades has already demonstrated the ability to achieve rent premiums through interior renovations and presents a clear, scalable path to continued NOI growth. With approximately one-third of units remaining in classic condition, a new owner can execute a disciplined renovation program while also capturing mark-to-market upside as in-place rents remain below nearby comparable properties. Additional revenue growth can be achieved through furnishing standardization and operational alignment with institutional student housing assets. Located along the transforming FAMU Way corridor and supported by a combined student population exceeding 55,000, Elevate on Cascades offers investors a rare opportunity to acquire a path-of-growth asset with multiple layers of upside and durable demand fundamentals. Investment Highlights: • 50 Unit, 100 Bedroom student housing assets located steps away from Florida State University & Florida A&M University. • All units are 800 SF 2Bd/2Ba units with washer/dryer appliances. • Built in 2002, Elevate on Cascades features 33 renovated units and 17 classic units.

Market Context

This multifamily in Tallahassee, FL is listed for sale. It has been on the market for 65 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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