Turnkey Student Quad Near
908 Buena Vista Drive Tallahassee, FL 32304
908 Buena Vista Drive, Tallahassee, FL, 32304
$295,000
For Sale
$295,000
MULTI_FAMILY - Other - Tallahassee, FL
Property Size1,560 SF
Price / SF$189.10
Days on Market74
Property Features for 908 Buena Vista Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 4, Bedroom 1, Bathroom 1
- Parking features
- Assigned
- Appliances
- Refrigerator
- Standard status
- Active
- APN
- 12073-21-27-35- B-008-0
- Size
- 1,560 SF
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Central Air
Building Details
- Year built
- 2004
- Floors in Building
- 1
- Number of units
- 4
- Flooring type
- Tile, Clay
- Building materials
- Block, Concrete
- Architectural style
- Other
Listing Agency
The Naumann Group Real Estate
(850) 325-1681
2050 Capital Circle NE, Tallahassee, FL
Listed by
Cole Davis · License #3357739
(850) 545-2111
Added: May 5 Checked: Jul 17 at 3:06 am
MLS# 399526
Listing URL
Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property, constructed in 2004, is located in Tallahassee, Florida. The 1,560 square foot building features concrete block construction and contains four efficiency units. Each unit has one bedroom and one bathroom, with private exterior access. Interior access leads to a shared common kitchen, dining, and laundry area. The property is currently generating $2,850 in monthly gross income, with individual units rented from $700 to $750 per month. The seller covers utilities, which average $400 per month for all four units. This property is located minutes from FSU and TCC, making it suitable for investors seeking immediate income in a strong rental area, or for someone looking to live in one unit while renting out the others.
Key Highlights
- Turnkey cash flow property generating $2,850 in monthly gross income.
- Prime location minutes from FSU and TCC, ideal for student rentals.
- Durable concrete block construction built in 2004.
Local 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 | $25.3k | $16.20 |
| − Vacancy | −$1.9k | −$1.23 |
| EGI | $23.4k | $14.97 |
| − OpEx | −$7.0k | −$4.49 |
| NOI | $16.3k | $10.48 |
1,560 SF · lease $16.20/SF/yr · vacancy 7.60% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four efficiency units near FSU, generating immediate rental income.
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: Turnkey cash flow property generating $2,850 in monthly gross income.; Prime location minutes from FSU and TCC, ideal for student rentals.; Durable concrete block construction built in 2004.
