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Multifamily

Bainbridge Place

2309 Old Bainbridge Rd, Tallahassee, FL 32303

Listing Price: Request For Offer

Number of Units
41
Gross SF
65,436

Investment Overview

SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Bainbridge Place. Bainbridge Place is located in Tallahassee, FL and is within one mile of Interstate 10 and the major retail/restaurant corridor of Monroe Street. Bainbridge Place offers the opportunity for a new buyer increase the NOI by 100.19% by convert the existing four-bedroom units to one-and-two-bedroom units and convert all property operations to conventional market rate housing. By completing the business plan, a new buyer will double the existing unit count to a total of 82 units, and also decrease their all-in per unit basis by 40%.

Investment Highlights

  • Ability to Increase NOI by 100.19% by Converting all 4x4 Units to 1x1s and 2x2s, Doubling the Unit Count to 82 Units
  • Value Add Opportunity Through Operational and Physical Upside Unlocked by Converting the Asset Away from Student Housing and to Conventional Housing
  • Opportunity to Remove Over $190,000 of Operating Expenses by Converting to Conventional Housing

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
41
Gross SF
65,436

Investment Highlights

  • Ability to Increase NOI by 100.19% by Converting all 4x4 Units to 1x1s and 2x2s, Doubling the Unit Count to 82 Units
  • Value Add Opportunity Through Operational and Physical Upside Unlocked by Converting the Asset Away from Student Housing and to Conventional Housing
  • Opportunity to Remove Over $190,000 of Operating Expenses by Converting to Conventional Housing

Investment Overview

SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Bainbridge Place. Bainbridge Place is located in Tallahassee, FL and is within one mile of Interstate 10 and the major retail/restaurant corridor of Monroe Street. Bainbridge Place offers the opportunity for a new buyer increase the NOI by 100.19% by convert the existing four-bedroom units to one-and-two-bedroom units and convert all property operations to conventional market rate housing. By completing the business plan, a new buyer will double the existing unit count to a total of 82 units, and also decrease their all-in per unit basis by 40%.

Exclusively Listed By

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