Quadplex with Four 2BR
1810 Sylvan Court - Tallahassee, FL 32303
For Sale
$470,000
Quadplex for sale with four 2-bedroom, 1-bath units and interior laundry rooms.
Property Size3,400 SF
Price / SF$138.24
Days on Market661
Property Features for 1810 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 5:22AM
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, with an interior laundry room in every unit. The units are reported at 850 square feet each, and updates and upgrades vary based on when each unit was last turned over. Some units are described as fully tiled with carpet in the bedrooms, and the upstairs units include fireplaces with brick facades.
The listing indicates this is one quadplex available from a set of three contiguous quads on the same street. The property is described as being in close vicinity to the FSU and TCC campuses, with nearby access to restaurants, entertainment, and shopping.
Rents are reported to total $3,925, with stated room for improvement. The remarks also note that tenants are already paying $1,100 in some units.
The listing indicates this is one quadplex available from a set of three contiguous quads on the same street. The property is described as being in close vicinity to the FSU and TCC campuses, with nearby access to restaurants, entertainment, and shopping.
Rents are reported to total $3,925, with stated room for improvement. The remarks also note that tenants are already paying $1,100 in some units.
Key Highlights
- Quadplex built in 1983 with four 2‑bedroom, 1‑bath units, each approx. 850 SF
- Rents total $3,925, with room for improvement; some tenants already paying $1,100 in other units
- 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 for sale with four 2-bedroom, 1-bath units and interior laundry rooms.
Where is this quadplex located?
The property is located at 1810 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: Quadplex built in 1983 with four 2‑bedroom, 1‑bath units, each approx. 850 SF; Rents total $3,925, with room for improvement; some tenants already paying $1,100 in other units; Each unit includes an interior laundry room
