118 W 8th Avenue, Unit 1
Property Description
One or more photos have been virtually enhanced. Immediate cash flow with 100% occupancy across all triplex units and a consistently booked, high-demand Airbnb in the detached home. This extraordinary, completely renovated, and turn-key investment opportunity in the Levy Park area of Midtown in Tallahassee features two income-producing triplexes and a detached single-family home situated less than three miles from Florida State University and the Florida State Capitol. Perfectly positioned for investors seeking strong cash flow and immediate rental potential, this property represents a rare chance to secure a high-performing asset in one of Tallahassee's most desirable neighborhoods. The gross rent roll of the detached home sits at approximately $30,000/year and the long-term triplex leases sit at approximately $7,000 monthly. The detached single-family home, which makes for an ideal short-term or Airbnb rental, features two bedrooms, two full bathrooms, and a thoughtfully designed interior boasting original wood floors, great lighting throughout, and a faux fireplace situated between the living room and bedroom. The eat-in kitchen includes bar stool seating and a coffee nook, while one bathroom offers a wood-grain double vanity, intricate mosaic floor tiling, and a glass-enclosed walk-in shower with a gold rain shower head. Outside, the home features a carefully planned back deck area perfect for grilling and enjoying the outdoors. The triplexes are equally impressive, featuring dramatic vaulted ceilings with both natural wood and white-painted exposed beams, an open main floor concept, durable light-toned wood-plank flooring throughout, in-unit laundry, individual back decks, and unassigned parking spaces. Property maintenance has been expertly handled, including newer AC units and professional tree mitigation to keep branches away from the roofs. This asset is well-positioned to deliver solid returns. All furniture and other items in the detached single-family home are negotiable with the sale.
Broker Details
Armor Realty, Inc. (850) 893-2525
MLS ID: 13447 State License Number: 3473050
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,150,000 |
| No. of Units: | 7 |
| Year Built: | 1979 |
| Opportunity Zone: | No |
| Price per unit: | $164,286 |
| Property Website | Click Here |
| Number of Bedrooms: | 8 |
| Number of Bathrooms: | 8 |
ID: 3yd-TBRFL-401636
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