Reserve at Midtown Tallahassee, FL

Investment Highlights

• Attractive Assumable Debt Leads to Immediate Cash Flow
• Strong and Stable In-Place Yields
• Well Located Within the Submarket
• Desirable Unit Mix

Attractive Assumable Debt Leads to Immediate Cash Flow

Reserve at Midtown is offered as a loan assumption with an existing Fannie Mae loan, featuring a desirable 3.34% rate with 7 years of term remaining and 2 years of interest only! Being still within the IO period, this ensures a new owner will have significant positive leverage immediately upon purchase.

Strong and Stable In-Place Yields

With a majority renovated units, Reserve at Midtown offers the unique opportunity to walk into strong in-place yields. By continuing the stable operations, coupled with the in-place debt, a new owner should experience double digit cash-on cash returns.

Well Located Within the Submarket

Reserve at Midtown is located within the Northwest Tallahassee submarket, which has seen rent growth boosted by the lack of new supply coming online. Reserve at Midtown is located within 3 miles of major economic drivers such as the Tallahassee Memorial Healthcare campus, the State Capitol, and Florida State University together employing over 20,000 people. 

Desirable Unit Mix

Reserve at Midtown has a desirable unit mix of 1-bedroom, 2-bedroom, and 3-bedroom units along with larger unit sizes. This allows an owner to better attract a diverse tenant base and lead to potentially stronger occupancy. 

Amenities