1533 S Bronough St 13 Unit Apartment Building $1,850,000 ($142,308/Unit) 6.47% Cap Rate Tallahassee, FL 32301

FULLY RENOVATED 13-UNIT STUDENT HOUSING ASSET
Offered at $1,850,000 | 6.47% In-Place Cap Rate
Opportunity Zone | Adjacent to FAMU | Strong Cash Flow & Value-Add Upside
1533 S. Bronough Street | Tallahassee, Florida
PROPERTY OVERVIEW
Rare opportunity to acquire a fully renovated 13-unit multifamily property located directly
adjacent to Florida A&M University in one of Tallahassee’s strongest and most consistent rental
corridors.
This asset is currently being repositioned into a 100% student housing community,
strategically aligned with the growing demand generated by FAMU’s expanding student
population and the limited supply of quality housing near campus.
With extensive renovations already completed, the property offers investors:
? Immediate in-place cash flow
? Minimal deferred maintenance
? Strong operational upside
? Significant long-term appreciation potential
The property is ideal for:
? Student housing investors
? Multifamily syndicators
? Opportunity Zone buyers
? 1031 exchange investors
? Private equity groups and family offices
INVESTMENT HIGHLIGHTS
? Offered at $1,850,000
? 6.47% In-Place Cap Rate
? Qualified Opportunity Zone Asset
? 13 Fully Renovated Apartment Units
? Adjacent to Florida A&M University (FAMU)
? Transitioning to 100% Student Housing
? Turnkey Asset with Minimal CapEx Requirements
? Strong Existing Cash Flow
? Rental Growth & Stabilization Upside
? High-Demand University Rental Market
FINANCIAL HIGHLIGHTS
Trailing 12-Month Financial Performance
(May 2025 – April 2026)
Income
? Gross Rental Income: Approximately $164,500
? Total Gross Income: Approximately $169,500
Expenses
? Operating Expenses: Approximately $49,800
Net Operating Income
? Current NOI: Approximately $119,700
Current Return Profile
At the asking price of $1,850,000, the property is being offered at an attractive:
? 6.47% In-Place Cap Rate
This provides investors with immediate cash flow while still preserving substantial upside
through operational stabilization and rent growth.
VALUE-ADD OPPORTUNITY
The property presents a compelling opportunity to further increase revenue through:
? Bedroom-by-bedroom leasing
? Increased occupancy stabilization
? Enhanced student-focused operations
? Additional utility and furnished rental income
? Market rent increases upon stabilization
Projected Stabilized Performance
Based on nearby student housing demand and continued operational optimization:
? Projected Gross Income: $210,000 – $240,000+
? Projected Stabilized NOI: $150,000 – $180,000+
MARKET OVERVIEW – TALLAHASSEE, FLORIDA
Tallahassee benefits from a highly stable and diversified economy driven by:
? Florida state government
? Major universities
? Healthcare
? Professional services
The city is home to:
? Florida A&M University
? Florida State University
Strong enrollment trends, continued population growth, and limited renovated student housing
inventory near campus continue to support long-term rental demand and appreciation.
INVESTMENT SUMMARY
This is a rare opportunity to acquire a turnkey, cash-flowing student housing asset in a
rapidly growing university market with:
? Existing income
? Renovated product
? Opportunity Zone benefits
? Strong in-place yield
? Significant operational upside
? Long-term appreciation potential
CONTACT INFORMATION
For financials, rent roll, or to schedule a property tour:
?? Call or Text Listing Agent Directly:
407-808-0899