Exclusively Listed by SP Multifamily Group
DIOR TOWNHOMES
A Boutique Townhome Community
Property Details
PROPERTY OVERVIEW
- Property Name Dior Townhomes
- Property Address 132 Dixie Drive
- City, State Tallahassee
- County Leon
- Assessor's Parcel Number 212750 C0120
- Number of Units 34
- Rentable Square Feet 34,000
- Number of Stories 2
- Year Built/Renovated 1999/2023
- Washer/Dryer In-Unit
- Financing Free and Clear of Debt
INVESTMENT HIGHLIGHTS
Thirty-Four (34) Unit Townhome Community Located in Tallahassee, The State Capital of Florida
Built in 1999, the Property Features (34) 2x2.5 Townhome Units with 1,000 Rentable SqFt
Eleven (11) Units Have Been Fully Renovated Since 2023, Leaving an Investor the Opportunity to Continue Renovations on the Remaining Twenty-Three (23) Standard Units
Unit Amenities Include Stainless Steel Appliances, Quartz Countertops, Sleek Wood-Grain Cabinets, Extended Breakfast Bars, Vinyl Plank Flooring on The First Floor, Upgraded Light Fixtures, New Bathroom Vanities & Toilets, and More
All Units Have Full Size In-Unit Wash/Dryer Appliances and Connections
In-Place Rents Average 14% Below The Average of The Rent Comparables, Leaving Room For Upside By Setting New Rents To Be In-Line With Nearby Properties
Near-Term Opportunity to Increase the Average Rent by $190+/month, Resulting in Top-Line Annual Revenue Growth of $79,000+
Operational Value-Add Potential By Changing Management Companies To A Third-Party Company With An Existing Presence And Personnel In The Market. Contact A Listing Agent To Inquire About Potential Management Options
SP Multifamily Group
Matthew Prozzillo
Senior Director Investments
SP Multifamily Group, Marcus & Millichap
Benjamin Skinner
Senior Director Investments
SP Multifamily Group, Marcus & Millichap
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