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429 W Park Ave
Tallahassee, FL 32301
Theta Chi Fraternity - Master Lease · Multifamily Property For Sale
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24 Units
Investment Highlights
- Master Lease With Theta Chi Fraternity as Single Tenant – 3% Annual Rent Increases
- Tenant Pays for Utilities, Trash Removal, and Landscaping
- Vacant Land on Southern Parcel Currently Used for Subject Property Parking
- Tenant has Three 2 Year Lease Renewal Options
- Prime Location Between FSU Campus and Downtown Tallahassee
- Adjacent to Onyx, a 574-bedroom Class-A Apartment Complex and The Edge at 401, a 40-Unit 1970’s Vintage Multifamily Property
Property Facts
| No. Units | 24 | Building Size | 15,888 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1959 |
| Building Class | C | Parking Ratio | 0.63/1,000 SF |
| Lot Size | 0.56 AC | ||
| Zoning | DI | ||
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.56 AC |
| Building Size | 15,888 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 0.63/1,000 SF |
| Zoning | DI |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 662 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $719,586 | |
| Land Assessment | $831,033 | Total Assessment | $1,550,619 |
Property Taxes
Parcel Numbers
Land Assessment
$831,033
Improvements Assessment
$719,586
Total Assessment
$1,550,619
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