Multifamily
Glen Hollow
1554 Lake Ave, Tallahassee, FL 32310
Listing Price: Request For Offer
Investment Overview
SP Multifamily Group & Turchi Vaughan Team of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Glen Hollow, a 48-unit multifamily asset in Tallahassee, FL. Glen Hollow was built in 1974 and consists of 48 one-bedroom/one-bathroom units with 449 square feet. The asset is ideally located roughly seven-minutes to the southwest of Downtown Tallahassee (Florida State Capital), immediately west of Florida A&M University (1,300+ employees), and directly south of Florida State University (5,800+ employees). Also located directly north of the property, is the City of Tallahassee’s FAMU Way streetscape and infrastructure project. Upon completion, FAMU Way will connect Glen Hollow directly to Downtown Tallahassee, the State Capital, Tallahassee International Airport, Innovation Park and the multi-hundred million dollar Cascades Development, a mixed-use master planned development that will see phase I deliver in late 2020.
Glen Hollow
Investment Highlights
- 48-Unit Multifamily Asset Built in 1974 Located Within the Heart of Tallahassee
- Value-Add Upside Available Through a Strategic Renovation of Unit Interiors, and Increasing Renal Rates to $825/Unit/Month
- Current Ownership has Completed Major Deferred Maintenance Projects During Their Ownership and Invested More Than $700,000 In Capital Expenses
- Located Only 1-Block Away From The Airport Gateway/FAMU Way/Greenway Redevelopment Projects ($233 Million in Capital Investments to the Immediate Area
- 1-Minute to Innovation Park of Tallahassee, 273,000 Sq, Ft. of Lab And Office Space Recently Developed or Under Construction Which is Home to More Than 30 Organizations
Exclusively Listed By
Financing By
Listing Price: Request For Offer
Investment Highlights
- 48-Unit Multifamily Asset Built in 1974 Located Within the Heart of Tallahassee
- Value-Add Upside Available Through a Strategic Renovation of Unit Interiors, and Increasing Renal Rates to $825/Unit/Month
- Current Ownership has Completed Major Deferred Maintenance Projects During Their Ownership and Invested More Than $700,000 In Capital Expenses
- Located Only 1-Block Away From The Airport Gateway/FAMU Way/Greenway Redevelopment Projects ($233 Million in Capital Investments to the Immediate Area
- 1-Minute to Innovation Park of Tallahassee, 273,000 Sq, Ft. of Lab And Office Space Recently Developed or Under Construction Which is Home to More Than 30 Organizations
Investment Overview
SP Multifamily Group & Turchi Vaughan Team of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Glen Hollow, a 48-unit multifamily asset in Tallahassee, FL. Glen Hollow was built in 1974 and consists of 48 one-bedroom/one-bathroom units with 449 square feet. The asset is ideally located roughly seven-minutes to the southwest of Downtown Tallahassee (Florida State Capital), immediately west of Florida A&M University (1,300+ employees), and directly south of Florida State University (5,800+ employees). Also located directly north of the property, is the City of Tallahassee’s FAMU Way streetscape and infrastructure project. Upon completion, FAMU Way will connect Glen Hollow directly to Downtown Tallahassee, the State Capital, Tallahassee International Airport, Innovation Park and the multi-hundred million dollar Cascades Development, a mixed-use master planned development that will see phase I deliver in late 2020.
Exclusively Listed By
Financing By
