1347 Hancock St
Tallahassee, FL 32304
Hancock Place · Multifamily Property For Sale · 14 Units

Marcus & Millichap, as exclusive advisor, is pleased to present the Hancock Place Townhome Apartments; a 14-unit, 2011 built, rental townhome community located in Tallahassee, Florida just 0.25 miles North of the Florida State University campus and less than two-miles to the State Capitol Building. This property has a strong rental history and is being offered at a historically low operating expense to income ratio and is being offered with the proven ability to push the NOI by implementing a furniture program in the remaining 13 unfurnished units. In addition, Hancock Place is being offered free and clear of existing debt thereby allowing investors to take advantage of attractive long-term financing options which are still at historically low rates. Built in 2011 with condominium level finishes, Hancock Place has been well maintained by the original developer/owner. This boutique sized student housing community consists of two two-story, wood frame buildings with exterior brick and Hardi board siding and pitched shingle roofs on a quiet 0.93 acre gated site which features a key pad/fob controlled main gate and pedestrian gate, a well lit, asphalt driveway and parking lot boasting multiple security cameras. Units are all townhome-style with bed/bath parity and all units consist of 3 bedrooms and 3 baths, averaging 1,506 square feet and featuring semi private entries, private covered/enclosed back decks, oak hardwood floors throughout (except bathrooms), ceiling fans, wood cabinets, granite counter tops, stainless steel appliance packages, updated light fixtures and window treatments. Outstanding Pedestrian Location: Hancock Place offers a true pedestrian to campus location and is located within walking distance (across the street) from Florida State University offering convenient access to the campus' academic buildings, facilities and Doak Campbell Stadium. Florida A&M University is less than three-miles from the property and home to 10,000 students. Additionally, the subject is a short walk or bike ride to the many restaurant/dining, nightlife and shopping options offered along the world famous "Tennessee Strip", including but not limited to Target (Brand new urban concept), Hibbett Sports, Moe's Southwest Grill, Jersey Mike's, Firehouse Subs, Chik-Fil-A, Chipotle Grill, MoMo's Pizza, Panda Express, Jimmy Johns, Smoothie King, Whataburger, Guthrie's, Newks Eatery, Lucky's Grocery Market and much more. Excellent Enrollment Growth: Florida State University has a current enrollment of nearly 42,000 students and has continued to experience record setting growth. FSU anticipates 6,500 incoming freshmen for the 2018/2019 year, an increase of more than 300 from last year, making it one of the largest incoming freshman classes in University history.