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Jeffrey Gue

guerealtor@gmail.com +1(754) 204-3367

$ 1,040,000

Est. payment | -/mo

8 Beds

8 Baths

4,966 SqFt

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$ 1,040,000

Est. payment | -/mo

Save Virtual Tour

8 Beds

8 Baths

4,966 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,966 sqft

Price per Sqft $209

Subdivision Lakeview Addition

MLS Listing ID 407080

Bedrooms 8

Full Baths 8

Construction Status Siding - Wood

Year Built 1979

Lot Dimensions 170x288x70x133x20x179

Property Sub-Type Multi-Family

Property Description

One or more photos have been virtually enhanced. Immediate cash flow with 100% occupancy across all triplex units and a high-demand, 5-star Airbnb in the detached home. This extraordinary, completely renovated, and turn-key investment opportunity in the Levy Park area of Midtown Tallahassee features two income-producing triplexes and a detached single-family home on approximately 0.78 acres, a short walk to Lake Ella and less than three miles from Florida State University and the Florida State Capitol. Seven units on one parcel in one of Tallahassee's most desirable neighborhoods is a rare find. The numbers: approximately $114,600 in gross scheduled income, with the long-term triplex leases at approximately $7,050 monthly and the detached home averaging approximately $30,000/year from Airbnb and furnished mid-term stays. That works out to roughly $148,571 per door and a 9.1 gross rent multiplier. Several triplex residents have called the property home since 2022–2023. Rent roll, operating statement, and pro forma are available to qualified buyers. The detached single-family home, which makes for an ideal short-term or Airbnb rental, features two bedrooms, two full bathrooms, and a thoughtfully designed interior boasting original wood floors, great lighting throughout, and a faux fireplace situated between the living room and bedroom. The eat-in kitchen includes bar stool seating and a coffee nook, while one bathroom offers a wood-grain double vanity, intricate mosaic floor tiling, and a glass-enclosed walk-in shower with a gold rain shower head. Outside, the home features a carefully planned back deck area perfect for grilling and enjoying the outdoors. Guests rave about the location for FSU graduations and parents' weekends, and the home has also been leased furnished during Legislative Session. Prefer to live on-site? Move into the home and let six long-term tenants cover most of the mortgage. The triplexes are equally impressive, featuring dramatic vaulted ceilings with both natural wood and white-painted exposed beams, an open main floor concept, durable light-toned wood-plank flooring throughout, in-unit laundry, individual back decks, and unassigned parking spaces. Property maintenance has been expertly handled, including newer AC units, recent plumbing upgrades, and professional tree mitigation to keep branches away from the roofs. Flood Zone X. All furniture and other items in the detached single-family home are negotiable with the sale. Please do not disturb tenants; showings by appointment only.

Location

State FL

County Leon

Area Leon

Interior

Heating Central, Electric

Cooling Central, Electric, Fans - Ceiling, Fans - Attic

Flooring Vinyl, Wood, Units Vary, Others

Equipment Dishwasher, Disposal, Microwave, Refrig/Icemaker, Refrigerator, Security System, Wash/Dry All, Units Vary

Exterior

Parking Features Area - Unassigned, On Street

Private Pool No

Building

Lot Description Kitchen with Bar, Kitchen - Eat In, Separate Living Room, Units Vary

Story Story - One, Story - Two plus

Level or Stories Story - One, Story - Two plus

Construction Status Siding - Wood

Schools

Elementary Schools Ruediger

Middle Schools Raa

High Schools Leon

Others

Ownership Caine Properties LLC

SqFt Source Tax

Miscellaneous Cathedral/Vault/Trey,Deck,Drapes/Curtains,Furnished,Patio - Individual,Units Vary

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://www.zillow.com/view-imx/ee20b68a-f798-488a-aad0-61e9fd1cd41e?wl=true&setAttribution=mls&initialViewType=pano

Listed by Armor Realty, Inc

NEARBY SCHOOL & BUSINESS

+1(754) 204-3367

guerealtor@gmail.com

3 S.W. 129TH AVENUE, PINES, FL 33027

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118 W 8th Avenue #1-7 Tallahassee, FL 32303