FULLY RENOVATED 13-UNIT STUDENT HOUSING ASSET Offered at $1,850,000 | 6.47% In-Place Cap Rate Opportunity Zone | Adjacent to FAMU | Strong Cash Flow & Value-Add Upside 1533 S. Bronough Street | Tallahassee, Florida PROPERTY OVERVIEW Rare opportunity to acquire a fully renovated 13-unit multifamily property located directly adjacent to Florida A&M University in one of Tallahassee’s strongest and most consistent rental corridors. This asset is currently being repositioned into a 100% student housing community, strategically aligned with the growing demand generated by FAMU’s expanding student population and the limited supply of quality housing near campus. With extensive renovations already completed, the property offers investors: ? Immediate in-place cash flow ? Minimal deferred maintenance ? Strong operational upside ? Significant long-term appreciation potential The property is ideal for: ? Student housing investors ? Multifamily syndicators ? Opportunity Zone buyers ? 1031 exchange investors ? Private equity groups and family offices INVESTMENT HIGHLIGHTS ? Offered at $1,850,000 ? 6.47% In-Place Cap Rate ? Qualified Opportunity Zone Asset ? 13 Fully Renovated Apartment Units ? Adjacent to Florida A&M University (FAMU) ? Transitioning to 100% Student Housing ? Turnkey Asset with Minimal CapEx Requirements ? Strong Existing Cash Flow ? Rental Growth & Stabilization Upside ? High-Demand University Rental Market FINANCIAL HIGHLIGHTS Trailing 12-Month Financial Performance (May 2025 – April 2026) Income ? Gross Rental Income: Approximately $164,500 ? Total Gross Income: Approximately $169,500 Expenses ? Operating Expenses: Approximately $49,800 Net Operating Income ? Current NOI: Approximately $119,700 Current Return Profile At the asking price of $1,850,000, the property is being offered at an attractive: ? 6.47% In-Place Cap Rate This provides investors with immediate cash flow while still preserving substantial upside through operational stabilization and rent growth. VALUE-ADD OPPORTUNITY The property presents a compelling opportunity to further increase revenue through: ? Bedroom-by-bedroom leasing ? Increased occupancy stabilization ? Enhanced student-focused operations ? Additional utility and furnished rental income ? Market rent increases upon stabilization Projected Stabilized Performance Based on nearby student housing demand and continued operational optimization: ? Projected Gross Income: $210,000 – $240,000+ ? Projected Stabilized NOI: $150,000 – $180,000+ MARKET OVERVIEW – TALLAHASSEE, FLORIDA Tallahassee benefits from a highly stable and diversified economy driven by: ? Florida state government ? Major universities ? Healthcare ? Professional services The city is home to: ? Florida A&M University ? Florida State University Strong enrollment trends, continued population growth, and limited renovated student housing inventory near campus continue to support long-term rental demand and appreciation. INVESTMENT SUMMARY This is a rare opportunity to acquire a turnkey, cash-flowing student housing asset in a rapidly growing university market with: ? Existing income ? Renovated product ? Opportunity Zone benefits ? Strong in-place yield ? Significant operational upside ? Long-term appreciation potential CONTACT INFORMATION For financials, rent roll, or to schedule a property tour: ?? Call or Text Listing Agent Directly: 407-808-0899