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The Artisan 2400 W Tharpe St 50 Unit Apartment Building For Sale 6.63% Cap Rate Tallahassee, FL 32303
EXECUTIVE SUMMARY
Fully Amenitized 50-Unit Luxury Townhome Asset Built In 2002 Located In The Heart Of Tallahassee, With Proximity To Major Job Hubs And Local Attractions. Unit Mix Consists Of 1,800 Sq.Ft. Four-Bedroom/Four-Bathroom & Five-Bedroom/Five-Bathroom Townhouse Units With Patios & Balconies. All Units Have Been Fully Renovated In 2023/2024 With Granite Countertops, Stainless Steel Appliances, White Shaker Cabinets, Vinyl Plank Flooring, New Bathroom Vanities & Toilets, And New Light Fixtures. Amenity Package Consists Of A Fitness Center, Gated Entry, Clubhouse, Swimming Pool, Playground, Washer/Dryer Appliances In Each Unit, And Exterior Patios On Each Unit.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Sale Type | Investment | Lot Size | 6.04 AC |
| Cap Rate | 6.63% | Building Size | 92,225 SF |
| No. Units | 50 | Average Occupancy | 96% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 2002/2023 |
| Apartment Style | Garden | Parking Ratio | 1.46/1,000 SF |
| Building Class | C | ||
| Zoning | MR-1 | ||
| Sale Type | Investment |
| Cap Rate | 6.63% |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 6.04 AC |
| Building Size | 92,225 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 2002/2023 |
| Parking Ratio | 1.46/1,000 SF |
| Zoning | MR-1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Wheelchair Accessible (Rooms)
- Window Coverings
SITE AMENITIES
- Business Center
- Controlled Access
- Clubhouse
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Maintenance on site
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+4 | 39 | $1,750 | 1,800 |
| 5+4 | 11 | $1,850 | 1,800 |
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PROPERTY TAXES
| Parcel Number | 21-21-51-019-148.0 | Total Assessment | $5,208,539 |
| Land Assessment | $495,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $4,713,539 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
21-21-51-019-148.0
Land Assessment
$495,000
Improvements Assessment
$4,713,539
Total Assessment
$5,208,539
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
CONTACTS
-
Benjamin Skinner -
Matthew Prozzillo -
SP Multifamily Group of Marcus & Millichap
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The Artisan | 2400 W Tharpe St
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