Homes for sale - 1240 Lake Avenue #1 and 2, Tallahassee, FL 32310

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Erica Lyles

ericalyles.realtor@gmail.com +1(850) 264-9730

$175,000

Est. payment - /mo

6 Beds

2 Baths

1,539 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,539 sqft

Price per Sqft $113

Subdivision Bloxham Heights

MLS Listing ID 394503

Bedrooms 6

Full Baths 2

Construction Status Other

Year Built 1940

Property Sub-Type Multi-Family

Property Description

High-Cash-Flow Investor Opportunity – Two Homes on One Lot Near Universities. Rare value-add investment in a prime university-area rental market. Two separate homes on one lot create multiple income streams with serious upside for the savvy investor. Properties like this don't come around often—especially this close to major universities. House #1: ~722 sq ft, 3 bedroom / 1 bathrooms - needs renovations. House #2: ~817 sq ft, 3 bedrooms / 1 bathroom is currently rented. Both homes are separately livable and perfectly positioned for student housing, mid-term rentals, or long-term tenants. With targeted renovations, investors can push rents, force appreciation, and significantly boost cash flow. Located in a high-demand rental corridor close to universities, shopping, dining, and public transportation—ensuring consistent tenant demand and low vacancy. Perfect for investors looking to maximize returns, build equity fast, and dominate a rental market fueled by students and professionals. Two units on one lot = higher ROI Prime university proximity = strong rental demand Value-add renovation opportunity Multiple exit strategies (hold, refinance, or resell)

Location

State FL

County Leon

Area Leon

Interior

Heating Central, Electric

Cooling Central, Electric

Flooring Vinyl, Others

Equipment Refrigerator

Exterior

Parking Features Assigned Spaces, On Street, Units Vary

Private Pool No

Building

Lot Description Family Room, Kitchen - Galley, Separate Living Room, Units Vary

Story Story - One

Level or Stories Story - One

Construction Status Other

Schools

Elementary Schools Pineview

Middle Schools Nims

High Schools Rickards

Others

Ownership Casa Bianca Realty Llc

SqFt Source Tax

Acceptable Financing Cash

Listing Terms Cash

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Listed by The Naumann Group Real Estate

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Erica Lyles

+1(850) 264-9730

Agent | License ID: SL3441132

Agent License ID: SL3441132

1240 Lake Avenue #1 and 2 Tallahassee, FL 32310

Erica Lyles

Key Details

Location

Interior

Exterior

Building

Schools

Others

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