833 E Park Ave - Apartments FOR SALE


Tallahassee, FL 32301- Magnolia
$1,150,000 USD
904-252-2823
833 E Park Ave, Tallahassee, FL for Sale
$1,150,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

833 E Park Ave
Tallahassee, FL 32301
Magnolia


HIGHLIGHTS

  • Turn-key asset with modern interior upgrades including new LVP flooring, granite countertops, and stainless steel appliances.
  • Major mechanical upgrades including roofs, electrical and plumbing within the last 10 years.
  • 100% occupancy with a strong rental history.
  • Below market rents allowing new ownership to increase NOI approximately 20% upon new leases and renewals

OVERVIEW

Colliers is pleased to present Eight Thirty Three East Park, an 8-unit apartment building located in Tallahassee, Florida—the state capital. The property comprises three separate buildings on a 0.72- acre lot. Two of the buildings feature spacious 2-bedroom, 2-bath apartments, while the third is leased as commercial office space to local businesses. The buildings include modern interior upgrades such as LVP flooring, granite countertops, and stainless-steel appliances. The property is currently 100% occupied and has a strong rental history. Eight Thirty Three East Park is close to several demand drivers, including Florida State University, Florida A&M University, Capitol Hill, and Tallahassee Memorial Hospital. It also offers convenient access to popular shopping and entertainment destinations such as Downtown Tallahassee, Governor’s Square Mall, and Cascades Park. New ownership will benefit from a prime location within Tallahassee’s historic College Park neighborhood and the opportunity to increase NOI by approximately 17% through new leases and renewals.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$165 USD /SF

# OF UNITS

8

PRICE/UNIT

$143,750

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eight Thirty Three East Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1932

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

30,928 SF

ZONING

-

APN/PARCEL ID

11-31-20-435-000.0

ASK ABOUT THIS PROPERTY

Bennett HarrellColliersMore Info
904-252-2823

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Bennett HarrellColliersMore Info
904-252-2823

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