Quadplex with Updated
1818 Sylvan Court - Tallahassee, FL 32303
For Sale
$470,000
Quadplex unit features four 2-bedroom, 1-bath residences with in-unit interior laundry and a 2024 roof.
Property Size3,400 SF
Price / SF$138.24
Days on Market661
Property Features for 1818 Sylvan Court -
General Information
- Standard status
- Active
- Size
- 3,400 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1983
Listing Agency:
The Naumann Group Real Estate
(850) 545-2111
Listed By:
Cole Davis · License #3357739
(850) 545-2111
Source:
Exitrealty
Added: Oct 2, 2024
Changed: Jul 23
Last Checked: Jul 24 at 8:01AM
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 The Naumann Group Real Estate
Investment Insights
Based on property information with market context.
This quadplex offers four residential units, each configured as 2 bedrooms and 1 bathroom. Each unit includes an interior laundry room. A brand-new 2024 roof was installed, and unit finishes vary based on the most recent upgrades, with some units featuring fully tiled interiors and carpet in the bedrooms.
The upstairs units include fireplaces with brick facades. The property is described as part of a small grouping with three total quads available on contiguous lots along the same street, and is positioned in close proximity to local dining, entertainment, and shopping, as well as nearby FSU and TCC campuses.
Reported total rents are $3,790, with room for improvement, and the remarks indicate tenants are currently paying $1,100 in some units.
The upstairs units include fireplaces with brick facades. The property is described as part of a small grouping with three total quads available on contiguous lots along the same street, and is positioned in close proximity to local dining, entertainment, and shopping, as well as nearby FSU and TCC campuses.
Reported total rents are $3,790, with room for improvement, and the remarks indicate tenants are currently paying $1,100 in some units.
Key Highlights
- 1983‑built quadplex with four 2‑bedroom, 1‑bath residences, each totaling 850 SF
- Brand new 2024 roof
- Each unit includes an interior laundry room
Financial Insights For Multifamily LT 5
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 | $55.1k | $16.20 |
| − Vacancy | −$4.2k | −$1.23 |
| EGI | $50.9k | $14.97 |
| − OpEx | −$15.3k | −$4.49 |
| NOI | $35.6k | $10.48 |
3,400 SF · lease $16.20/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$508.9K
$445.3K – $593.8K
NOI $35,626 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$442.4K
$387.1K – $516.1K
NOI $30,967 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$833.5K
$729.3K – $972.5K
NOI $58,347 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Quadplex unit features four 2-bedroom, 1-bath residences with in-unit interior laundry and a 2024 roof.
Where is this quadplex located?
The property is located at 1818 Sylvan Court - Tallahassee, FL.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: 1983‑built quadplex with four 2‑bedroom, 1‑bath residences, each totaling 850 SF; Brand new 2024 roof; Each unit includes an interior laundry room
