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Student Housing

Conradi Place

322 Conradi St, Tallahassee, FL 32304

Listing Price: $1,600,000

Cap Rate
4.89%
Number of Units
8
Price/Unit
$200,000
Price/Gross SF
$177.78
Gross SF
9,000

Investment Overview

Conradi Place is two stories consisting of eight units - all three bed, 2 bath floorplans located directly across from FSU Campus in Tallahassee, Florida.

Investment Highlights

  • Excellent Walkable Central Location: 50 feet West of Florida State University
  • Multiple Value-Add Strategies: Rent Increases Attainable with Current Interiors | Renovate Interiors to Further Increase Market Rents | Future Re-Development Potential due to Desirable UT Zoning
  • Significant Under-Market Rents | Opportunity to Increase All Bedroom Rents to $525 per month, or up to ~28% upside, without any interior renovations
  • Property Zoning is UT (University Transition) | Very Flexible Residential and Commercial Zoning District
  • Building is 2 stories | 8 Units | All 3 Bedroom, 2 Bathroom Floorplans
  • Built in 1990 | 0.29 AC +/- allowing for potential 14 units (50 units/acre) with re-development

Exclusively Listed By

Financing By

Listing Price: $1,600,000

Cap Rate
4.89%
Number of Units
8
Price/Unit
$200,000
Price/Gross SF
$177.78
Gross SF
9,000

Investment Highlights

  • Excellent Walkable Central Location: 50 feet West of Florida State University
  • Multiple Value-Add Strategies: Rent Increases Attainable with Current Interiors | Renovate Interiors to Further Increase Market Rents | Future Re-Development Potential due to Desirable UT Zoning
  • Significant Under-Market Rents | Opportunity to Increase All Bedroom Rents to $525 per month, or up to ~28% upside, without any interior renovations
  • Property Zoning is UT (University Transition) | Very Flexible Residential and Commercial Zoning District
  • Building is 2 stories | 8 Units | All 3 Bedroom, 2 Bathroom Floorplans
  • Built in 1990 | 0.29 AC +/- allowing for potential 14 units (50 units/acre) with re-development

Investment Overview

Conradi Place is two stories consisting of eight units - all three bed, 2 bath floorplans located directly across from FSU Campus in Tallahassee, Florida.

Exclusively Listed By

Financing By

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