Town Tallahassee Short Term Apartments

Multi-Family for Sale
Catylist Listing ID: 30257182
Property Subtypes: Mid-Rise
Number of Units: 18 Units
Building Size (RSF): 16,578 SF
Gross Building Area: See Agent
Sale Price: $1,800,000
Unit Price: $100,000 Per Unit
Property Use Type: Investment
Building Name: Town Tallahassee
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/20/2018

Overview / Comments

Town Tallahassee is an 18 unit apartment building located at 302 E. Georgia Street, Tallahassee, FL (corner of Georgia and Calhoun). Current ownership purchased the building in 2013, vacated the units, then spent 6 months renovating the entire property. Today, the property is rental stabilized as short term apartments. Tenant types include legislators, lobbyists, traveling nurses, grad students, and homeowners displaced by renovations, etc. The zoning is a Georgia Street PUD which allows for this apartment-hotel unique rental program. Additionally, all condominium documents have been approved so a conversion and sale of individual units is possible.

Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 2136400733445
Property Located Between: Georgia Street & Calhoun Street
Property Condition: Excellent
Number of Stories: 3
Year Built: 1965
Year Renovated: 2015
Roof Type: Flat
Parking Description: 1 parking space per unit.
Total Parking Spaces: 19
Passenger Elevators: 1
Laundry: Shared
Heat Type: Electricity
Heat Source: Central, Heat Pump
Fuel: Electric
Air Conditioning: Other
Internet Access: Cable
Zoning Description: Georgia Street PUD
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,688 111,602 176,325
Median Age: 30.2 28.36 30.89
Households: 6,469 47,119 73,336


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