Proposed Multifamily New Construction! Great opportunity for the investor/owner to own a brand new apartment building close to downtown Tallahassee. Owner is affiliated to a local construction company. Many student housing multifamily projects currently under construction nearby. This property is an excellent opportunity to provide apartment rentals to the rest of the non-student market. Current rental rates should yield an 11% Cap Rate with a estimated NOI of $605,000. Each unit will include luxury vinyl plank flooring, granite counter tops, 9 feet high ceilings, upgraded electrical package, real wood cabinetry in kitchen and bathrooms, and much more! A complete appliance package for each apartment unit will be offered at no additional cost for buyers able to close by December 20, 2025. Buyer can choose to purchase the vacant land at $350,000 by December 20, build later, and still take advantage of the free appliance package option.