1504 & 1506 S Adams #1 st - Apartments FOR SALE


Tallahassee, FL 32301- FAMU
$1,295,000 USD
850-509-5242
1504 & 1506 S Adams #1 st, Tallahassee, FL for Sale
$1,295,000 USD
Apartments - FOR SALE
1/21
null | 7.59% Cap Rate

1504 & 1506 S Adams #1 st
Tallahassee, FL 32301
FAMU


HIGHLIGHTS

  • Located just south of The Tallahassee Capitol near FAMU Campus
  • 3 buildings with 2 units each, totaling 18 bedrooms
  • Perfect for Air B&B, workforce or student housing
  • 100% Occupied
  • Owner Financing with 50% + down
  • Zoned CU45 up to 45 units per acre and many other commercial uses

OVERVIEW

Introducing a prime investment opportunity in Tallahassee, Florida! This set of 3 buildings totals 6,912 SF, and contains 6 units each with 2 bedrooms. This presents a lucrative prospect for the discerning investor. Constructed in 2003 and recently renovated in 2023, this property boasts 100% occupancy, promising immediate returns. Zoned CU45, it offers extensive potential for commercial uses. Strategically situated near Famu Campus, this property represents an ideal venture for those seeking to capitalize on the thriving local market. With its exceptional features, including 6 Multi-Family units with 18 bedrooms total, this property is perfectly suited for Air B&B, workforce, or student housing opportunities.

FOR SALE DETAILS

PRICE

$1,295,000 USD

PRICE/SF

$187 USD /SF

# OF UNITS

18

PRICE/UNIT

$71,944

CAP RATE

7.59%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1504 & 1506 S Adams St #1

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2003

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,084 SF

ZONING

CU45

APN/PARCEL ID

41-01-54-000-057.0

ASK ABOUT THIS PROPERTY

Kee ElwellNAI TALCORMore Info
850-509-5242

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Kee ElwellNAI TALCORMore Info
850-509-5242

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.