$950,000

Est. payment -/mo

$1,000,000

5.0%

Est.Price: ?

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534 E College Avenue #1 Tallahassee, FL 32301

5,670 SqFt

SOLD DATE : 01/09/2025

Key Details

Sold Price $950,000

Property Type Commercial

Sub Type Multi Family

Listing Status Sold

Purchase Type For Sale

Square Footage 5,670 sqft

Price per Sqft $167

Subdivision Cherokee Hills 1St Addn

MLS Listing ID 378619

Sold Date 01/09/25

Construction Status Brick

Lot Size 0.260 Acres

Property Sub-Type Multi Family

Property Description

Situated in the sought-a?er Cherokee Hills neighborhood, near Cascades Park and Downtown Tallahassee, this all-brick, two-story property features 8 well-maintained, 1-bedroom, 1-bathroom units. With front-door parking for each unit, convenience is key for tenants, ensuring high demand. The property offers solid rental income, with current rents averaging $865 per month and room for potential increases as leases renew. Key updates include a new roof (2024) and 5 out of 8 AC units recently replaced. Each unit is individually metered, minimizing overhead costs. This rare find in a desirable location is perfect for investors seeking a stable and attractive rental property in the heart of Tallahassee. Don't miss out on this exceptional opportunity!