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Elevate On Cascade 410 W Van Buren St 50 Unit Apartment Building For Sale Tallahassee, FL 32301
Investment Highlights
- Built in 2002, The Property Consists Entirely of 800 SF 2Bd/2Ba Units
- Irreplaceable Location Within Tallahassee's Most Transformative Urban Infill Corridor
- 55,000+ Students Within Direct Proximity of The Property Supported by Florida State University and Florida A&M University
- 66% Of Unit Interiors Have Been Renovated and Roofs Replaced in 2024
- ?Direct Beneficiary of Collegetown's Outward Expansion and Rising Rent Ceiling
Executive Summary
Access Offering Memorandum & Financials: https://elevateoncascades.sharplaunch.com/
SP Multifamily Group is pleased to present Elevate on Cascades, a 100-bed student housing asset in Tallahassee, FL, offering a compelling value-add opportunity within one of the market’s fastest-growing urban infill corridors.
Pedestrian to Florida State University and Florida A&M University, the property benefits from durable demand driven by a 55,000+ student population. Featuring bed/bath parity and covered parking, Elevate has demonstrated rent premium potential through renovations, with approximately one-third of units remaining in classic condition. In-place rents remain below nearby comparables, providing clear mark-to-market upside, while additional revenue can be captured through continued renovations and furnishing standardization. Positioned along the transforming FAMU Way corridor, Elevate offers investors a rare opportunity to acquire a scalable, path-of-growth asset with multiple layers of NOI upside.
SP Multifamily Group is pleased to present Elevate on Cascades, a 100-bed student housing asset in Tallahassee, FL, offering a compelling value-add opportunity within one of the market’s fastest-growing urban infill corridors.
Pedestrian to Florida State University and Florida A&M University, the property benefits from durable demand driven by a 55,000+ student population. Featuring bed/bath parity and covered parking, Elevate has demonstrated rent premium potential through renovations, with approximately one-third of units remaining in classic condition. In-place rents remain below nearby comparables, providing clear mark-to-market upside, while additional revenue can be captured through continued renovations and furnishing standardization. Positioned along the transforming FAMU Way corridor, Elevate offers investors a rare opportunity to acquire a scalable, path-of-growth asset with multiple layers of NOI upside.
Property Facts
| Sale Type | Investment | Building Size | 40,000 SF |
| No. Units | 50 | Average Occupancy | 98% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 2002/2024 |
| Apartment Style | Garden | Parking Ratio | 2.73/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 2.53 AC | ||
| Zoning | CC (Central Core) | ||
| Sale Type | Investment |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.53 AC |
| Building Size | 40,000 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built/Renovated | 2002/2024 |
| Parking Ratio | 2.73/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | CC (Central Core) |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Range
- Tub/Shower
- Vinyl Flooring
Site Amenities
- Property Manager on Site
- Furnished Units Available
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 50 | - | 800 |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 41-01-20-204-000.0 | Improvements Assessment | $6,192,495 CAD |
| Land Assessment | $758,477 CAD | Total Assessment | $6,950,971 CAD |
Property Taxes
Parcel Number
41-01-20-204-000.0
Land Assessment
$758,477 CAD
Improvements Assessment
$6,192,495 CAD
Total Assessment
$6,950,971 CAD
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Elevate On Cascade | 410 W Van Buren St
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