Edgewood Villas

Multi-Family for Sale
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

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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
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