Eight Thirty Three East Park
Multifamily | 8 Units | $125,000/unit
Marketing description
Colliers is pleased to present Eight Thirty Three East Park, an 8-unit apartment building located in Tallahassee, Florida—the state capital. The property comprises three separate buildings on a 0.72-acre lot. Two of the buildings feature spacious 2-bedroom, 2-bath apartments, while the third is leased as commercial office space to local businesses. The buildings include modern interior upgrades such as LVP flooring, granite countertops, and stainless-steel appliances. The property is currently 100% occupied and has a strong rental history.
Eight Thirty Three East Park is close to several demand drivers, including Florida State University, Florida A&M University, Capitol Hill, and Tallahassee Memorial Hospital. It also offers convenient access to popular shopping and entertainment destinations such as Downtown Tallahassee, Governor’s Square Mall, and Cascades Park. New ownership will benefit from a prime location within Tallahassee’s historic College Park neighborhood and the opportunity to increase NOI by approximately 17% through new leases and renewals.
Investment highlights
- Turn-key asset with modern interior upgrades including new LVP flooring, granite countertops, stainless-steel appliances and new bathroom vanities
- Major mechanical upgrades including roofs, electrical and plumbing within last 10 years
- 100% occupancy with a strong rental history
- Below market rents allow new ownership to recapture a healthy 8.5% loss to lease on upcoming tenant renewals
- Positioned just minutes from the Florida State Capital. The property benefits from one of Florida’s largest concentration of government employment
- Proximate to major university demand drivers including Florida State University and Florida A&M University
- Conveniently located near Tallahassee’s medical and employment hubs
- Situated along Tallahassee’s historic Park Avenue corridor giving walkable access to dining and entertainment destinations like Cascades Park.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
