Skip to main content

Multifamily

The Pines Apartments

3801 Mission Trace Blvd, Tallahassee, FL 32303

Listing Price: Request For Offer

Number of Units
96
Gross SF
105,056

Investment Overview

96-unit market-rate multifamily community in Tallahassee, Florida On-site leasing center and laundry facility Vaulted ceilings throughout second-floor units Tallahassee is home to Florida State University, with 42,000 students & Florida State Capitol, with workforce including 40,000 government employees 3.6 miles to Tallahassee Community College Community is approximately two miles from Interstate 10, providing easy access to nearby major cities of Pensacola and Jacksonville

Investment Highlights

  • Asset offered with an attractive assumable and supplemental debt package – see Financial Analysis section of OM for details
  • 100% two- and three-bedroom floorplans with washer/dryer connections
  • Tenants pay all utilities directly to utility provider
  • Significant proven upside with 30.8% increase in Effective Gross Income achievable by end of Year 2 through continued unit-interior renovations and further property upgrades
  • 80 units have upgraded features which may include new wood-look vinyl plank flooring, new appliances (including dishwashers and build-in microwaves); new countertops, vanities, plumbing fixtures and lighting
  • All new exterior paint
  • Newer roofs on majority of buildings
  • Recently upgraded community room

Exclusively Listed By

Multifamily

The Pines Apartments

Listing Price: Request For Offer

Number of Units
96
Gross SF
105,056

Investment Highlights

  • Asset offered with an attractive assumable and supplemental debt package – see Financial Analysis section of OM for details
  • 100% two- and three-bedroom floorplans with washer/dryer connections
  • Tenants pay all utilities directly to utility provider
  • Significant proven upside with 30.8% increase in Effective Gross Income achievable by end of Year 2 through continued unit-interior renovations and further property upgrades
  • 80 units have upgraded features which may include new wood-look vinyl plank flooring, new appliances (including dishwashers and build-in microwaves); new countertops, vanities, plumbing fixtures and lighting
  • All new exterior paint
  • Newer roofs on majority of buildings
  • Recently upgraded community room

Investment Overview

96-unit market-rate multifamily community in Tallahassee, Florida On-site leasing center and laundry facility Vaulted ceilings throughout second-floor units Tallahassee is home to Florida State University, with 42,000 students & Florida State Capitol, with workforce including 40,000 government employees 3.6 miles to Tallahassee Community College Community is approximately two miles from Interstate 10, providing easy access to nearby major cities of Pensacola and Jacksonville

Exclusively Listed By

MM Texture Background
MM Textured Background Lower