ELEVATE ON CASCADES
100-Bed Student Housing Asset With Operational & Physical Upside
Property Details
SUMMARY OF OFFERING
- Asset Type Multifamily (Student Housing)
- Address 410 W Van Buren St Tallahassee, FL
- Year Built 2002
- Construction Type Wood Frame
- Lot Size 2.53
- Unit Count Fifty (50)
- Bed Count One-Hundred (100)
- Avg, Unit Size 800
- Building Count 25
- Rentable SqFt 40,000
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.
INVESTMENT HIGHLIGHTS
Listing Team
Benjamin Skinner
