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400 Putnam Dr
Tallahassee, FL 32301
Altura · Multifamily Property For Sale
·
80 Units
PROPERTY FACTS
| No. Units | 80 | Building Size | 127,680 SF |
| Property Type | Multifamily | Average Occupancy | 66% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built/Renovated | 2000/2021 |
| Building Class | B | Parking Ratio | 0.93/1,000 SF |
| Lot Size | 5.97 AC | ||
| Zoning | MR-1 | ||
| No. Units | 80 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 5.97 AC |
| Building Size | 127,680 SF |
| Average Occupancy | 66% |
| No. Stories | 3 |
| Year Built/Renovated | 2000/2021 |
| Parking Ratio | 0.93/1,000 SF |
| Zoning | MR-1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Range
- Tub/Shower
- Carpet
- Vinyl Flooring
SITE AMENITIES
- Business Center
- Controlled Access
- Clubhouse
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Basketball Court
- Furnished Units Available
- Storage Space
- Lounge
- Maintenance on site
- Sundeck
- Roommate Matching
- Individual Leases Available
ABOUT 400 PUTNAM DR , TALLAHASSEE, FL 32301
CBRE Multifamily offers investors the exclusive opportunity to acquire the Alliance at 400, an 80-unit/320-bed student housing asset located 0.2 miles from Florida A&M University in Tallahassee, Florida. With current rents $110 per bed per month below market, Alliance at 400 offers investors the opportunity for a heavy value-add scenario to achieve a cash-on-cash return greater than 25% after year one. Putnam Drive, the property’s single entrance, recently reopened after the city completed a $1 million infrastructure project which included new asphalt, upgrading the stormwater drainage and water/sewage systems, and installing sidewalks. The amenity package at Alliance at 400 includes an on-site clubhouse, leasing office, study lounge, basketball court, swimming pool, and a gated entrance. Directly adjacent to The Alliance at 400 is the site of the future $76 million Tallahassee Police Headquarters and Health Center. Located only 0.2 miles to the west of The Alliance at 400, is Florida A&M University. Florida A&M University just received their highest score in school history with the Board of Governors which can be attributed to the growing enrollment for undergraduate, graduate and transfer enrollment and 19.8% YoY application increase. Currently, Florida A&M University is preparing to begin construction on over $100-million of campus-wide improvements and is seeking $24-million of in-state funding for enrollment and STEM employment growth initiatives.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+4 | 80 | - | 1,596 |
PROPERTY TAXES
| Parcel Number | 41-12-20-020-000.0 | Improvements Assessment | $6,408,015 |
| Land Assessment | $872,000 | Total Assessment | $7,280,015 |
PROPERTY TAXES
