401 W Park Ave | Tallahassee, FL 32301
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- LoopNet Team
401 W Park Ave
Tallahassee, FL 32301
The Edge at 401 · Multifamily Property For Sale · 47 Units
Investment Highlights
- Incredible location within short walking distance of both Florida State University & Florida State Capitol
- 100% in-demand one-bedroom floorplans attracting diverse tenant base, including professionals and graduate students
- Concrete block construction
- All renovated units feature space-efficient dual-cycle washer/dryer appliances
- $350,000+ in 2020/2021 capital improvements following $500,000+ comprehensive 2018 exterior and interior renovation
- Significant upside remaining with 44% increase in Effective Gross Income achievable by Year 2
PROPERTY FACTS
| No. Units | 47 | Building Size | 27,213 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low Rise | Year Built/Renovated | 1972/2000 |
| Building Class | C | Parking Ratio | 2.94/1,000 SF |
| Lot Size | 0.84 AC |
| No. Units | 47 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.84 AC |
| Building Size | 27,213 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built/Renovated | 1972/2000 |
| Parking Ratio | 2.94/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Disposal
- Washer/Dryer
- Heating
- Tile Floors
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Carpet
- Vinyl Flooring
Site Amenities
- Laundry Facilities
- Pool
- Property Manager on Site
- Cabana
- Furnished Units Available
- Grill
- Sundeck
- Walk To Campus
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 47 | - | 602 |
PROPERTY TAXES
| Parcel Number | 21-36-80-001-700.2 | Improvements Assessment | $2,659,631 |
| Land Assessment | $752,000 | Total Assessment | $3,411,631 |
PROPERTY TAXES
Parcel Number
21-36-80-001-700.2
Land Assessment
$752,000
Improvements Assessment
$2,659,631
Total Assessment
$3,411,631
zoning
| Zoning Code | CC |
| CC |
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