Premier Commercial Group & Beck Partners are pleased to bring to market this 12 Unit Multi-Family Apartment Complex located just one block West of Florida A&M University in Tallahassee, the State Capital of Florida. FAMU has student population of just under 10,000 full-time students. The property offers residents immediate access to nearby attractions and economic centers such as Downtown Tallahassee, Florida A&M University, Florida State University, Cascades Park, Rail Road Square and many government office buildings.
This two story property features 566 SF one bedroom & one bathroom apartments, all of which have been updated since original construction. There are six units rented for $650 per month, four units rented for $675 per month and two units rented for $695 per month. The property currently has an occupancy rate of 100% and management has a new lease in place at $750 per month, which will be the new lease rate moving forward. This creates an excellent opportunity for a Buyer to capture the value-add of raising rents to market rate.
For More Information on the Property:
Contact our agent, Fletcher Dilmore for more information