Catylist ID:
#30829413
Catylist Listing ID: | 30829413 |
Property Subtypes: | Duplex/Fourplex, Low-Rise/Garden |
Number of Units: | 16 Units |
Building Size (RSF): | 13,728 SF |
Gross Land Area: | 1.71 Acres |
Sale Price: | $2,300,000 |
Unit Price: | $143,750 Per Unit |
Property Use Type: | Investment |
Building Name: | Edgewood Villas |
Sale Terms: | Undisclosed |
Cap Rate: | 5.18% |
Last Updated: | 1/16/2023 |
Overview / Comments
Edgewood Villas is located in the heart of Midtown Tallahassee, within walking distance of various restaurants, bars, shops, and parks. The property’s convenient location bodes well for students, young professionals, or any other individuals who find value in affordable apartment living in the middle of Tallahassee. Situated on 1.71 acres, Edgewood Villas consists of 8 duplex buildings with 16 total units with an average of 858 sqft per unit. Each unit is equipped with 2 bedrooms and 1 bathroom, and a washer/dryer room. The property has experienced steady rent growth and relatively low vacancy rates under current ownership. With 13/16 units recently renovated as well as significant capital expenditure improvements made in recent years, Edgewood Villas presents a compelling multifamily investment opportunity for someone looking to start a multifamily investment portfolio or add to an existing one. |
Additional Details
Nearest MSA: | Tallahassee |
County: | Leon |
Tax ID/APN: | 113039 B0010 |
Zoning: | RP-2 |
Percent Occupied: | 100% |
Property Located Between: | E 7th Ave and Thomasville Rd |
Area Description: | Located on E 7th Ave, E 8th Ave and Cherry Street just east of N. Gadsden Street. |
Total Number of Buildings: | 8 |
Property Condition: | Excellent |
Number of Stories: | 1 |
Year Built: | 1977 |
Construction/Siding: | Brick/Vinyl Siding |
Parking Type: | Surface |
Laundry: | In Each Unit |
Demographic Statistics
Proximity: | 1 mile | 3 miles | 5 miles |
---|---|---|---|
Total Population: | 9,894 | 110,228 | 180,437 |
Median Age: | 33.85 | 29.81 | 31.5 |
Households: | 4,944 | 46,624 | 75,034 |
Contact
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