• Attractive Assumable Debt: Existing loan at a 3.73% interest rate with approximately six years remaining.
• Strong In-Place Yield: Underwritten to a 7.00% Year 1 adjusted cap rate at the asking price.
• Efficient Unit Mix: 31 of the 32 units are one-bedroom floor plans, creating a simple and highly rentable operating profile.
• Affordable Price Point: Offered at $2,350,000, or approximately $73,438 per unit and $163.19 per square foot.
• Stabilized Cash Flow Potential: Year 3 stabilized NOI is projected at approximately $177,678, compared to historical NOI of approximately $126,189.
• Minutes from Florida State University (FSU) & Florida A&M University (FAMU)
• Convenient access to Tallahassee International Airport (TLH)
• Positioned along South Monroe Street with exposure to ±22,000 VPD
• Near major retail destinations including Target, Costco, Sam’s Club, Publix & Walmart
• Easy access to Downtown Tallahassee and key employment centers