$2,350,000 USD
850-202-9802
2501 S Meridian St
Tallahassee, FL 32301
South City
HIGHLIGHTS
- 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)
FOR SALE DETAILS
PRICE
$2,350,000 USD
PRICE/SF
$163 USD /SF
# OF UNITS
32
PRICE/UNIT
$73,438
CAP RATE
7%
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Campus Highland Apartments
PROPERTY TYPE
Multi-Family
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1973
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.91 AC
LAND SF
39,640 SF
ZONING
CU-45
APN/PARCEL ID
31-07-20-287-000.0
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
850-202-9802
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
Please correct the highlighted field(s).
850-202-9802
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
