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, Tallahassee, FL
- 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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