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Multifamily

Villa San Michele

1600 Baldwin Park Dr, Tallahassee, FL 32304

Listing Price: Request For Offer

Number of Units
82
Gross SF
118,508

Investment Overview

SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Villa San Michele. This property is located in Tallahassee, FL, just 7-minutes from Florida State University and 10-minutes from Downtown Tallahassee and consists of 82 townhome units. Currently, the property is operated as a student housing property and is managed by a national student housing property management firm. Moving forward, an investor has the opportunity to transition the property away from student housing and to conventional multifamily housing by switching management to a conventional multifamily property management firm. By doing so, an investor can significantly reduce operational expenses, leading to a projected increase in net operating income of 100.15%.

Investment Highlights

  • High Quality 2008 Built Asset Located Within Tallahassee, the State Capital of Florida
  • Ability to Increase NOI by 100.15% Within the First 24-Months of Ownership
  • Value Add Opportunity Through Operational Upside Unlocked by Converting the Asset Away from Student Housing and to Conventional Housing

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
82
Gross SF
118,508

Investment Highlights

  • High Quality 2008 Built Asset Located Within Tallahassee, the State Capital of Florida
  • Ability to Increase NOI by 100.15% Within the First 24-Months of Ownership
  • Value Add Opportunity Through Operational Upside Unlocked by Converting the Asset Away from Student Housing and to Conventional Housing

Investment Overview

SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Villa San Michele. This property is located in Tallahassee, FL, just 7-minutes from Florida State University and 10-minutes from Downtown Tallahassee and consists of 82 townhome units. Currently, the property is operated as a student housing property and is managed by a national student housing property management firm. Moving forward, an investor has the opportunity to transition the property away from student housing and to conventional multifamily housing by switching management to a conventional multifamily property management firm. By doing so, an investor can significantly reduce operational expenses, leading to a projected increase in net operating income of 100.15%.

Exclusively Listed By

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