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401 W Park Ave
Tallahassee, FL 32301

The Edge at 401 · Residential Property For Sale · 47 Units

Investment Highlights

  • Incredible location within short walking distance of both Florida State University & Florida State Capitol
  • 100% in-demand one-bedroom floorplans attracting diverse tenant base, including professionals and graduate students
  • Concrete block construction
  • All renovated units feature space-efficient dual-cycle washer/dryer appliances
  • $350,000+ in 2020/2021 capital improvements following $500,000+ comprehensive 2018 exterior and interior renovation
  • Significant upside remaining with 44% increase in Effective Gross Income achievable by Year 2

PROPERTY FACTS

No. Units 47
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.84 AC
Building Size 27,213 SF
Average Occupancy 94%
Number of Floors 3
Year Built/Renovated 1972/2000
Parking Ratio 2.94/1,000 SF

Unit Amenities

  • Air Conditioning
  • Balcony
  • Disposal
  • Washer/Dryer
  • Heating
  • Tile Floors
  • Kitchen
  • Granite Countertops
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Range
  • Carpet
  • Vinyl Flooring

Site Amenities

  • Laundry Facilities
  • Pool
  • Property Manager on Site
  • Cabana
  • Furnished Units Available
  • Grill
  • Sundeck
  • Walk To Campus

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 47 - 602

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
21-36-80-001-700.2
Land Assessment
£598,156
Improvements Assessment
£2,115,524
Total Assessment
£2,713,679

zoning

Zoning Code CC
CC
  • Listing ID: 24401545

  • Date on Market: 01/11/2021

  • Last Updated:

  • Address: 401 W Park Ave, Tallahassee, FL 32301

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