503 Marvin St St

Tallahassee, FL 32301 View Map $1,100,000 Ask a Question
Sold On4/7/2022
Year2007
503 Marvin St St Tallahassee, FL 32301 in Cascades Bluff Townhomes Photo 1
503 Marvin St St Tallahassee, FL 32301 in Cascades Bluff Townhomes Map

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Status: Sold
Property Type:Multi Family
MLS #:341394
Date Sold:4/7/2022
County:Leon
This is a great investment opportunity. Cascade Bluff Townhomes offer two, two-story, two unit, multifamily buildings constructed in 2007. Address's are 503 & 507 Marvin Street and 502 & 506 Myers Park Lane. ALL FOUR UNITS MUST BE PURCHASED AS A PACKAGE. This portfolio is priced well below replacement value and is a great opportunity for a hands on owner operator. Buyer could live in one unit and rent/manage others. Units have been at 100% occupancy since purchasing the property in 2014. Each of these upscale townhomes offer approx. 1841 square feet with 4 large bedrooms, 4 1/2 baths, ceramic tile flooring in living area, kitchen and bathrooms, Granite counter tops, stainless steel kitchen appliances, full size washer and dryer and a Jacuzzi tub as well. Awesome location near downtown and within walking distance to Cascade Park. Less than 2 miles from both universities. Must provide 24 hours notice to show.

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
4/9/2022$1,200,000$1,100,000-8.3%

Community Information

Address:503 Marvin St St Tallahassee, FL 32301
Area:NE-01
County:Leon
Subdivision:Cascades Bluff Townhomes
Zip Code:32301

School Information

High School:Rickards
Middle School:Cobb
Elementary School:Hartsfield

Architecture

Year Built:2007
Style:Two Story
Construction Materials: Fiber Cement
Building Area: 7364.0
Parking Features: Unassigned

Features / Amenities

Interior Features: Tray Ceiling(s), Master Downstairs, Vaulted Ceiling(s), Walk-In Closet(s)
Appliances: Dryer, Dishwasher, Disposal, Microwave, Range, Refrigerator, Washer
Flooring: Carpet, Clay, Ceramic Tile
Exterior Features: Deck, Fence
Patio And Porch: Deck, Patio
Security Features: Dead Bolt(s), Firewall(s), Smoke Detector(s)
Cooling: Central Air, Ceiling Fan(s), Electric
Heating: Central, Electric

Property Features

Lot Dimensions:43x202x43x202
Fencing: Partial
Directions:Lafayette Street to Marvin. Located right behind Chili's. Parking is behind the units.

Tax and Financial Info

Tax Annual Amount: $11,040
Buyer Financing: Conventional
Cap Rate: 5.64
Gross Income: $90,000
Lease Terms: 12 Months
Terms: Cash, Conventional, Item1031Exchange
Owner Pays: Repairs
Total Actual Rent: $13
Rent Includes: Gardener, Pest Control
Documents Available: Financials, Lease, Rent Rolls, Survey

Schools

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Listing Information Last Updated 8/19/2022
Listing provided courtesy of Sunbelt Real Estate Services.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program. Real estate listings held by IDX Brokerage firms other than Joe Manausa Real Estate are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing IDX Brokers. This information is provided exclusively for personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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