Elevate on Cascades

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Address: 410 W Van Buren St, Tallahassee, FL 32301, USA
Florida & Gulf Coast + Apartment Buildings
Created date: April 2, 2026
Date last updated: April 9, 2026
Price: $7,500,000Investment Analyzer NEW!
  • Built in 2002, The Property Consists Entirely of 800 SF 2Bd/2Ba Units
  • 66% Of Unit Interiors Have Been Renovated and Roofs Replaced in 2024
  • Value-Add Opportunity to Increase NOI by 23% Through Continuation of Interior Renovations, Furnishing the Remaining Unfurnished Units, and Operational Shifts
  • Irreplaceable Location Within Tallahassee’s Most Transformative Urban Infill Corridor
  • Direct Beneficiary of Collegetown’s Outward Expansion and Rising Rent Ceiling
  • 55,000+ Students Within Direct Proximity of The Property Supported by Florida State University and Florida A&M University

Property Description

SP Multifamily Group is pleased to present Elevate on Cascades, a 100-bed student housing asset in Tallahassee, FL, offering a compelling value-add opportunity within one of the market’s fastest-growing urban infill corridors.
Pedestrian to Florida State University and Florida A&M University, the property benefits from durable demand driven by a 55,000+ student population. Featuring bed/bath parity and covered parking, Elevate has demonstrated rent premium potential through renovations, with approximately one-third of units remaining in classic condition. In-place rents remain below nearby comparables, providing clear mark-to-market upside, while additional revenue can be captured through continued renovations and furnishing standardization. Positioned along the transforming FAMU Way corridor, Elevate offers investors a rare opportunity to acquire a scalable, path-of-growth asset with multiple layers of NOI upside.
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Broker Details

Benjamin Skinner
Benjamin Skinner

SP Multifamily Group, Marcus & Millichap 407-557-3889

Broker Details

Matthew Prozzillo
Matthew Prozzillo

SP Multifamily Group, Marcus & Millichap 407.557.3888

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Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $7,500,000
No. of Units: 50
Lot Size: 2.53 Sq ft
Opportunity Zone: No
Price per unit: $150,000
Property Website Click Here
Address: 410 West Van Buren Street, Tallahassee, FL 32301, USA
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