4-Unit Efficiency Apartment
For Sale
$295,000
908 Buena Vista Drive, Tallahassee, FL 32304
Concrete block construction and shared kitchen, dining, and laundry areas serve four occupied units.
Property Size1,560 SF
Price / SF$189.10
Days on Market185
Property Features for 908 Buena Vista Drive
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Multi Family Home
Occupancy
100%
Lease Term
12 Months
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$34,200
Tenant in Place
Yes
Amenities
shared common kitchen
shared dining
shared laundry
Building Details
Building Size
1,560 SF
Year Built
2004
Stories
1
Units
4
Construction
concrete block
Listing Agency:
The Naumann Group Real Estate
Listed By:
Cole Davis · License #3357739
(850) 325-1681
Source:
Bertpope
Added: May 5
Changed: Nov 4
Last Checked: Nov 5 at 5:28PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2004, this 1,560-square-foot concrete block property contains four efficiency apartments, each configured with one bedroom and one bathroom. Each unit has its own exterior entrance, with interior access to shared kitchen, dining, and laundry areas.
All four apartments are rented. Monthly rents range from $700 to $750 per unit, with reported gross monthly income of $2,850. The seller pays utilities, averaging $400 per month across the property.
All four apartments are rented. Monthly rents range from $700 to $750 per unit, with reported gross monthly income of $2,850. The seller pays utilities, averaging $400 per month across the property.
Key Highlights
- Four 1‑bedroom, 1‑bath efficiency units
- 1,560 square feet of building area
- Concrete block construction; built in 2004
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,346
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$326,920
$326.9K
Cap Rate 7%
$233,514
$233.5K
Cap Rate 9%
$181,622
$181.6K
Market Conditions
NOI Build-Up for 1,560 SF
Gross rent
$25.3K $16.20/SF
− Vacancy
−$1.9K −$1.23/SF
EGI
$23.4K $14.97/SF
− OpEx
−$7.0K −$4.49/SF
NOI
$16.3K $10.48/SF
Area
Tallahassee, FL
Vacancy
7.60%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$326,920
Cap Rate 7%
$233,514
Cap Rate 9%
$181,622
Alternative Uses
Best Use
Multifamily LT 5
$233.5K
$204.3K – $272.4K
NOI $16,346 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$203.0K
$177.6K – $236.8K
NOI $14,208 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$382.4K
$334.6K – $446.2K
NOI $26,771 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
739
Businesses Nearby
Explore this area
Business Placement
Demographics for 32304, FL
50,007
Population
23,296
Households
2.1
Avg Household Size
25
Median Age
36%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
3,290
Density / Sq Mi
$30,823
Median Household Income
$14,475
Median Earnings
$1,132
Median Rent
$147,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Concrete block construction and shared kitchen, dining, and laundry areas serve four occupied units.
Where is this quadplex located?
The property is located at 908 Buena Vista Drive Tallahassee, FL.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath efficiency units; 1,560 square feet of building area; Concrete block construction; built in 2004
