Catylist ID:
#30858499
Lipona Pines Small Multi Family For Sale Near FSU
Multi-Family
for Sale
| Catylist Listing ID: | 30858499 |
| Property Subtypes: | Duplex/Fourplex |
| Number of Units: | 8 Units |
| Building Size (RSF): | 1,485 SF |
| Gross Building Area: | 12,780 SF |
| Gross Land Area: | 0.52 Acres |
| Sale Price: | $2,160,000 |
| Unit Price: | $270,000 Per Unit |
| Property Use Type: | Investment |
| Building Name: | Lipona Pines |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 100 |
| Last Updated: | 12/1/2023 |
Overview / Comments
|
Welcome to the exclusive Lipona Pines, a rare find in the heart of Tallahassee's college living, a student duplex property steps from Florida State University's main campus. This extraordinary investment opportunity encompasses four duplex buildings (24 bedrooms and bathrooms),100% rented out, making it an ideal choice for savvy investors. Property Highlights: Prime Location: Nestled within walking distance of Florida State University and the iconic Doak Campbell Stadium, this property boasts unparalleled convenience for students, ensuring high demand for years to come. High Rental Demand: With all units currently occupied, you can take advantage of the consistent rental income from day one. The popularity of this location among students guarantees a steady stream of prospective tenants. Optimal Unit Configuration: Each of the eight units is designed with the modern student in mind, featuring three bedrooms and three bathrooms. This layout ensures maximum privacy and comfort, making it a sought-after choice among students. Ample Private Parking: Parking woes are a thing of the past here. The property offers ample private parking space for both tenants and guests, enhancing the overall convenience and desirability of the units. Excellent Condition: The property is meticulously maintained, ensuring a hassle-free ownership experience. You can invest with confidence, knowing that your property is in top-notch condition and ready to welcome new tenants. Below-Market Rents: Currently, the rents are considerably below market rates, offering a unique opportunity to increase your rental income. By adjusting the rental prices to match the market rates, you can significantly enhance your investment's profitability. Why Invest Here? This duplex property represents more than just bricks and mortar; it’s a gateway to a lucrative investment opportunity. The high demand for student housing in this area, coupled with the property's exceptional condition and strategic location, makes it a wise choice for investors looking for stable and growing returns. Act Now! Don’t miss out on this golden opportunity to own a premium student rental property near FSU. With high demand, prime location, optimal unit layouts, and room for increased revenue, this investment is a strategic move for your portfolio. |
Financials
| Finance Data Year | 2024 |
|---|---|
| Real Estate Taxes - Annual($) | $15,000 (Annual) |
| Tax Value Land | $200,000 |
| Tax Value Improvements | $660,000 |
| Assessed Value - Total($) | $860,000 (Annual) |
| Potential Rental Income | $201,600 (Annual) |
| Net Operating Income | $142,846 (Annual) |
| Actual or Proforma Year | Proforma |
Additional Details
| Nearest MSA: | Tallahassee |
| County: | Leon |
| Taxing Authority: | Leon County |
| Tax ID/APN: | 2134510001810 |
| Zoning: | UT (UNIVERSITY TRANSITION) |
| Percent Occupied: | 100% |
| Property Located Between: | Pensacola Street and Jackson Bluff |
| Airports: | TLH |
| Site Description: | Small flat parcel with parking underneath each unit. |
| Area Description: | Great location neat FSU and TCC. Just 2 blocks off of Pensacola Street. |
| Total Number of Buildings: | 4 |
| Property Condition: | Excellent |
| Number of Stories: | 2 |
| Year Built: | 2005 |
| Construction/Siding: | Vinyl Siding |
| Parking Type: | Surface |
| Parking Description: | Ample parking underneath each unit |
| Total Parking Spaces: | 25 |
| Laundry: | In Each Unit |
| Sprinklers: | None |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Air Conditioning: | Package Unit |
| Internet Access: | Cable, DSL |
| Interior Description: | Spacious interior with 3 bedrooms and 3 bathrooms. |
| Zoning Description: | UT (University Transition |
| Lot Frontage: | 100 |
| Lot Depth: | 170 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 24,199 | 97,333 | 161,986 |
| Median Age: | 21.75 | 26.14 | 29.58 |
| Households: | 9,536 | 38,429 | 67,196 |
| © Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Tallahassee Board of REALTORS nor Moody's assume any liability for errors or omissions. |
