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    2016 Ann Arbor Ave Tallahassee, FL 32304

    Sponsored
    For Sale
    $5,920,000

    32-unit gated community, high ROI.

    Property size:
    39,680 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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 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

    HighLights

    • 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.
    • On‑site property management; trash and yard maintenance included in HOA fees.
    • Four buildings of eight contiguous units available for sale individually or as a package; 7.19% pro‑forma cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dormitories

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    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.
    Request Owner's contact information
    2016 Ann Arbor Ave Tallahassee, FL 32304
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2016 Ann Arbor Ave Tallahassee, FL 32304
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