1218 Hidden PlTallahassee, FL 32304

Property Details for 1218 Hidden Pl

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 6-unit student housing complex in Tallahassee, Florida, located at 1218 Hidden Pl, 32304. The property boasts a strong 7.70% cap rate and a current Net Operating Income (NOI) of $84,000. Comprising two, two-story buildings, the property underwent renovations in 2023. Situated in the Hidden Place Subdivision, this property benefits from a prime location near Florida State University (1.9 miles away) and convenient access to shopping plazas, ensuring high occupancy rates and strong rental income potential. The absence of HOA fees provides significant cost savings and management flexibility. The property's proximity to the university and shopping centers makes it highly attractive to students and faculty, contributing to consistent demand. The current configuration includes a mix of units, offering potential for further value enhancement through strategic renovations or upgrades. This is a rare opportunity to acquire a well-positioned multifamily property with significant upside potential in a thriving Tallahassee neighborhood. The property offers excellent access to major roads and public transportation, further enhancing its appeal to tenants. Nearby amenities such as schools, restaurants, and entertainment venues add to the property's desirability. This is an ideal investment for those seeking a strong return on investment in a high-demand market.

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4549

Longitude

-84.3204

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