Greystone Place | 72 Multifamily Units

Highlights:

• Value Add Multifamily Opportunity In Capital City of Florida
• Close Proximity to Multiple Major Universities
• Central Air Conditioning Easy Public Transportation Access
• Irreplaceable Price Per Square Foot | $176.28
• Garden Walk-Up Design
• Opportunity to Rebrand and Market to Student Housing Segment
• Opportunity to Operate RUBS Utility Management for Cost Reduction
• Unit Mix | 72 One-Bedroom One-Bath Units

Description:

» Greystone Place is a 72-Unit Multifamily opportunity in the Capital City of Tallahassee, Florida. As the state capital, Tallahassee benefits from a significant presence of government employment, providing a consistent and stable tenant base. This is further bolstered by major educational institutions like Florida State University (FSU), Florida A&M University (FAMU), and Tallahassee Community College, which bring in a large student population and a steady demand for rental housing. The top economic drivers in Tallahassee, Florida include but are not limited to Government, Education, Healthcare, Social Services, Professional, Scientific, Technical Services, and many more.

» Current ownership has gone to great lengths to stabilized operations with unit renovations and professional property management. There is a value add component to Greystone Place as further renovations to modern designs will lift the income accounted for in the Pro Forma analysis. Rebranding efforts, continued renovations, and increased marketing initiatives will further stabilize Greystone Place and improve market positioning to better compete in the marketplace.

» With 72-Units, acquisition will include economies of scale that allows for operational efficiencies not available in smaller multifamily. Ability to hire part time management and maintenance staff is warranted here and may reduce expenses over time. Greystone Place is an excellent add on acquisition to existing portfolios, or an opportunity for out of area investors to acquire multifamily in a growing market with guaranteed economic drivers of both Government and Education!

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