REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Kara V. Richetti

karav@thecinquegroup.com +1(850) 865-7259

$ 795,000

Est. payment -/mo

Save

Open Sun 12AM-4PM

1320 Terrace Street #House and Cottage Tallahassee, FL 32303

5 Beds

3 Baths

2,522 SqFt

Open House

Sun Nov 15, 12:00am - 4:00pm

Sat Nov 21, 10:00am - 4:00pm

Sun Nov 22, 12:00am - 4:00pm

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,522 sqft

Price per Sqft $315

Subdivision Elizabeth Terrace

MLS Listing ID 407108

Bedrooms 5

Full Baths 3

Construction Status Frame,Siding - Aluminum

Year Built 1937

Lot Dimensions 185 x 75

Property Sub-Type Multi-Family

Property Description

RARE MIDTOWN/LAFAYETTE PARK INVESTMENT OPPORTUNITY! TWO RESIDENCES • PROVEN RENTAL HISTORY • FULLY FURNISHED & TURNKEY! Exceptional opportunity to own TWO residences on one beautifully landscaped, both fully fenced parcel in desirable Midtown/Lafayette Park! Featuring THREE YEARS OF CONSISTENT RENTAL RATES totaling $5,350 monthly ($64,200 annualized), representing an attractive 8.1% GROSS RENTAL YIELD at the $795,000 asking price, before expenses. Ideal for investors, FSU parents purchasing housing for their college students, medical professionals, executive housing, or multigenerational living. PRIME LOCATION — JUST FIVE BLOCKS FROM TALLAHASSEE MEMORIAL HOSPITAL! A straight walk along East 7th Avenue to TMH, the clinical anchor of the expanding FSU Health academic medical system. An outstanding location for furnished rentals catering to physicians, traveling nurses, medical residents, visiting faculty and other healthcare professionals. Convenient to Midtown restaurants and shopping, downtown, the State Capitol, Leon High School, FSU and FAMU. The beautifully updated main residence at 1320 Terrace Street offers 4 bedrooms and 2 baths, or 3 bedrooms plus an office. Features include refinished hardwood floors, recessed LED lighting, a gas fireplace and an impressive chef's kitchen with granite countertops, marble subway-tile backsplash, a 48-inch professional gas range with dual ovens and a 184-bottle Marvel wine cooler. Extensive improvements include a NEW ROOF, new refrigerator, updated electrical wiring and panel, and a Rinnai tankless gas water heater. The charming detached 1-bedroom, 1-bath cottage at 731 E. 7th Avenue features its own street address, separate electric meter, open living area, hardwood and tile floors, generous closets, built-in storage and NEW HVAC. French doors open to a private brick patio and tropical backyard. A detached laundry and storage building includes a washer and dryer. SOLD FULLY FURNISHED & TURNKEY! Both residences include furnishings, appliances, televisions, microwaves, washers and dryers, offering an exceptional opportunity for investors seeking furnished or traditional rental properties without the expense of furnishing two separate homes. TWO ADDRESSES • TWO RESIDENCES • THREE YEARS OF CONSISTENT RENTAL RATES • WALKING DISTANCE TO TMH • ONE EXCEPTIONAL INVESTMENT OPPORTUNITY!

Location

State FL

County Leon

Area Leon

Interior

Heating Electric, Fireplace - Gas, Natural Gas

Cooling Central, Electric, Fans - Ceiling, Natural Gas

Flooring Ceramic/Clay, Wood

Equipment Dead Bolt, Dishwasher, Disposal, Fire Alarm, Microwave, Range, Refrig/Icemaker, Refrigerator, Smoke Detector, Wash/Dry All

Exterior

Parking Features Covered Parking, On Street, Shared Carport

Private Pool No

Building

Lot Description Family Room, Family Room/Dining Room, Great Room, Kitchen with Bar, Kitchen - Eat In, Kitchen/Din Rm/Liv Room, Kitchen/Family Room, Living Room/Dining Room, Separate Living Room

Story Story - One

Level or Stories Story - One

Construction Status Frame,Siding - Aluminum

Schools

Elementary Schools Kate Sullivan Elementary

Middle Schools Cobb

High Schools Leon

Others

Ownership Broker / Owner

SqFt Source Tax

Acceptable Financing Cash

Listing Terms Cash

Listed by Zon Realty, Inc.

Nearby Locations

Kara V. Richetti

Broker Associate License ID: SL3257837

+1(850) 865-7259

Kara V. Richetti

1320 Terrace Street #House and Cottage Tallahassee, FL 32303

Open House

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby Locations

GET MORE INFORMATION

Go tour this home

1320 Terrace Street #House and Cottage