Catylist ID:
#30675552
| Catylist Listing ID: | 30675552 |
| Property Subtypes: | Low-Rise/Garden, Student Housing |
| Number of Units: | 15 Units |
| Building Size (RSF): | 20,988 SF |
| Gross Land Area: | 1.09 Acres |
| Sale Price: | $2,400,000 |
| Unit Price: | $160,000 Per Unit |
| Property Use Type: | Investment |
| Building Name: | Timber Ridge Townhomes |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 100 |
| Last Updated: | 4/9/2021 |
Overview / Comments
|
See Flyer for financial details. Property must be sold subject to buyer assuming existing loan. Loan Balance: $1,223,592 @ 4.63% / Matures 12/1/2027 15 Large Apartment Units with great Tallahassee NW location. Townhome Style Buildings with Spacious Floorplan Unique 3 bedroom & 3 bath units with front & rear balconies 25 Year Shingle Roof and Hardie Board Siding Vaulted Ceilings, Stainless Steel Appliances, Interior utility room, Granite Counter Tops & brushed nickel light fixtures, garbage disposal, Wood Cabinets and, breakfast Bar, Central Air & Heat, Ceramic Tile Floors, Washer & Dryer Included |
Attachments & Media
Additional Details
| Nearest MSA: | Tallahassee |
| County: | Leon |
| Taxing Authority: | Leon |
| Tax ID/APN: | 2123202430000 |
| Zoning: | MR-1 |
| Percent Occupied: | 100% |
| Property Located Between: | N Monroe & Old Bainbridge |
| Highway Access: | I-10/ N Monroe interchange - less than 1 mile |
| Airports: | Tallahassee International Airport |
| Site Description: | 15 Large Apartment Units with great Tallahassee NW location Surface parking |
| Area Description: | Timber Ridge is located in Tallahassee's northwest quadrant. Tallahassee's northwest area is the "Natural Side" of Tallahassee providing mature oak trees, palm trees, lakes, waterways and park space. Neighborhoods offer plenty of open spaces and are surrounded by local businesses, schools and churches. It's also convenient to the I-10/N Monroe interchange. Timber Ridge Townhomes are located within 5 miles of 3 major universities /colleges (FSU, FAMU, TCC) and multiple shopping centers are within 2 miles. There are 5 national/local parks within 4 miles and the Tallahassee International Airport is approximately 8.5 miles. Also, just a couple of blocks from Timber Ridge is The Centre of Tallahassee, formerly known as the Tallahassee Mall. The Centre is a semi-enclosed shopping center and entertainment venue at the corner of N Monroe Street & John Knox Rd. The "Pavilion", at The Centre of Tallahassee, seats more than 6,700 spectators and hosts many national concerts, trade shows and events. In addition to the theaters, shops & eateries, the former mall has repurposed a large portion into office space (450,790 SF) for the State of Florida with over 2000 employees working for the Department of Health and the Department of Children & Families. The former Dillard's building has been transformed into the School of Arts & Sciences |
| Total Number of Buildings: | 2 |
| Number of Stories: | 2 |
| Year Built: | 2007 |
| Construction/Siding: | HardiePlank Siding |
| Parking Ratio: | 2.7 (per 1000 SF) |
| Parking Type: | Surface |
| Parking Description: | Free Surface Parking |
| Total Parking Spaces: | 40 |
| Laundry: | In Each Unit |
| Zoning Description: | MR-1 Medium Density Residential |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 9,410 | 93,462 | 168,077 |
| Median Age: | 28.18 | 28.85 | 30.68 |
| Households: | 4,002 | 38,024 | 70,185 |
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