2016 Ann Arbor Ave Tallahassee, FL 32304
32-unit gated community, high ROI.
Property size:
39,680 SFProperty Features for 2016 Ann Arbor Ave
General Information
- Property type
- Multifamily properties
- Square Feet
- 39,680 SF
- Class
- B
Building Details
- Year Built
- 2017
- Buildings
- 4
- Stories
- 2
- Units
- 32
Listing Agency: Bryan Bjerke Listing Agent: Janet Clement
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a 32-unit multifamily complex ideally situated in Tallahassee, Florida, at 2016 Ann Arbor Ave, 32304. The property, built in 2017 by Hartsfield Construction, comprises four two-story buildings totaling 39,680 square feet of net rentable space, offering a compelling 7.19% pro-forma cap rate based on a projected Net Operating Income (NOI) of $425,600. Currently boasting a 90% occupancy rate (projected to be 100% by August 1, 2024), this Class B property features 96 beds across 32 condos, each with three bedrooms, three bathrooms, and three parking spaces. Each 1240 sq ft condo includes all appliances and a washer/dryer. The gated community provides residents with a swimming pool, recreation room, gym, and volleyball court. The property is zoned PUD and benefits from on-site property management. Tenants are responsible for their utilities, while trash and yard maintenance are covered by the HOA. This value-add investment presents a significant upside potential, with the option to purchase the entire complex or individual blocks of eight units. Financial statements are available upon request. This is a rare opportunity to acquire a well-maintained, high-performing student housing complex in a thriving Florida market.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Dormitories
Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.349179
- Latitude
- 30.4629359
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FAQs
What type of property is this?
Multifamily property - 32-unit gated community, high ROI.
Where is this multifamily property located?
The property is located at 2016 Ann Arbor Ave Tallahassee, FL.
What is the asking price?
The asking price for this property is $5,920,000.
What are key features of this property?
This property features: 32-unit multifamily investment opportunity in Tallahassee, FL.; Gated community with pool, recreation room, and fitness center.; Each 1,240 sq ft condo features 3 bedrooms, 3 bathrooms, and 3 parking spaces; all appliances included.