1317 Hancock St.

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30628917
Property Subtypes: Duplex/Fourplex, Student Housing
Status: Pending/Contingent
Number of Units: 4 Units
Building Size (RSF): 898 SF
Gross Building Area: 3,592 SF
Gross Land Area: 13,068 SF
Sale Price: $350,000
Unit Price: $87,500 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Usable Size (USF): 3,592 SF
Sale Terms: Cash to Seller, Other
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 8/28/2020

Overview / Comments

Great location, across the street from FSU, right behind the Burger King on Tennessee Street! Ideal student rental, walk to campus.
Three units are leased for $700 until May 2021, 1 long term tenant pays under market rent of $550 until Aug. 15th. Then the unit will be leased for $700 a month.
Each unit has 2 bedrooms, 1 bath, washer and dryer included in all four units. Large fenced in backyard, with ample amount of parking. Upstairs units have balconies, all units have indoor laundry with extra outdoor storage.
Quadruplex is being sold "As Is" with the right to inspect.
Proposed re-development, zoned CU-45; 13 units. Storm-water is in place.

Additional Details

Nearest MSA: Tallahassee
County: Leon
Tax ID/APN: 212690 F0040
Zoning: CU-45
Percent Occupied: 100%
Property Located Between: Across the street from FSU.
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 2
Year Built: 1978
Roof Type: Gable
Construction/Siding: Wood Frame
Parking Ratio: 2.5 (per 1000 SF)
Parking Type: Surface
Parking Description: Large parking area with ample amount of parking spaces.
Total Parking Spaces: 14
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit
Interior Description: Two bedrooms with 1 bathroom, an eat in kitchen, indoor laundry and all tile flooring.
Zoning Description: CU-45 45 dwelling units per acre;Promote infill and redevelopment of urban areas with sufficient supporting infrastructure, accessibility to services, and proximity to the Universities. Development standards for this zoning district are established within Division 4 applicable to the MMTD.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 30,690 107,659 174,481
Median Age: 23.78 27.41 30.26
Households: 10,437 43,291 72,158


Photograph of Listing Agent

M. Sullivan Ellinor

A Brokers Concierge TALrex.com Member
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