6-Unit Apartment
125 Columbia Drive All Tallahassee, FL 32304
For Sale
$775,000
Six two-bedroom, one-bath units with in-unit washer/dryer and updated finishes.
Property Size4,617 SF
Price / SF$167.86
Days on Market653
Property Features for 125 Columbia Drive All
General Information
- Standard status
- Active
- Size
- 4,617 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1977
Listing Agency:
Equity Realty and Management
(850) 509-2180
Listed By:
Jody Harbin · License #3229886
(850) 509-2180
Source:
Exitrealty
Added: Oct 10, 2024
Changed: Jul 22
Last Checked: Jul 24 at 8:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Equity Realty and Management
Investment Insights
Based on property information with market context.
This for-sale multifamily property consists of six two-bedroom, one-bath units. Five units are currently occupied, and one vacant unit is move-in ready. The units have been updated with vinyl flooring in the living areas, steel appliances, and updated countertops and cabinets. Each unit includes its own washer and dryer. A rent roll is available upon request.
The property is being offered with an adjacent vacant lot. The lot is approximately 0.29 acres and is available for purchase with duplexes; an appraisal for the lot can be provided.
The investment is described as having historically strong occupancy, and the current unit mix includes both occupied and move-in ready space.
The property is being offered with an adjacent vacant lot. The lot is approximately 0.29 acres and is available for purchase with duplexes; an appraisal for the lot can be provided.
The investment is described as having historically strong occupancy, and the current unit mix includes both occupied and move-in ready space.
Key Highlights
- Six 2‑bedroom, 1‑bath units in a 1977‑built multifamily property
- 5 units currently occupied and 1 vacant unit that is move‑in ready
- Each unit has an in‑unit washer/dryer
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.1k | $18.00 |
| − Vacancy | −$6.6k | −$1.44 |
| EGI | $76.5k | $16.56 |
| − OpEx | −$34.4k | −$7.45 |
| NOI | $42.1k | $9.11 |
4,617 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$600.7K
$525.7K – $700.9K
NOI $42,052 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$990.4K – $1.32M
NOI $79,232 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six two-bedroom, one-bath units with in-unit washer/dryer and updated finishes.
Where is this apartment building located?
The property is located at 125 Columbia Drive All Tallahassee, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Six 2‑bedroom, 1‑bath units in a 1977‑built multifamily property; 5 units currently occupied and 1 vacant unit that is move‑in ready; Each unit has an in‑unit washer/dryer
