MLS® ID: 301889
1201 S Meridian
TALLAHASSEE, FL, 32301 $269,900
This unusual 3-unit property has been a great property for the retiring owners for years. It is located on the corner of East Van Buren St. and South Meridian St., across from Myers Park, close to Cascades Park. This property is being sold “as-is”, with right to inspect. Located in Myers Park, it is in a highly desirable, rapidly appreciating neighborhood and demand will be high. For an owner-occupant buyer, this property could pay for itself, and buyer lives for free. The property consists of: • House facing Meridian St. on the corner of East Van Buren St., 1100 sq ft, 3 bedroom 1-bath, 3 large bedrooms, dining room and living room, custom kitchen cabinets, original hardwood floors, and 39’x10’ screened porch that has always been a fave hangout-spot for tenants and their friends. Very under-rented at $795/mo to long-term tenants, should easily get $895 or more. • Small studio underneath the house, facing onto East Van Buren St., is 24'x14’, is very rentable because of price and being in Myers Park. Currently vacant for repairs, should get $420/mo • Detached Garage building addressed as 502 East Van Buren, is a 500 sq ft studio with hardwood floors, large bathroom, private little backyard; a huge plus is the 500 sq ft space with washer-dryer hook-ups and wide open storage for tenants to store bikes, kayaks, tools etc., and has tended to retain tenants long-term. It is currently rented at $625. • Total Income $1,940 per month Features: • 1928 sq ft living space, $129/ft heated and cooled, plus 890 sq ft porch and storage areas. • Custom-built terraced retaining wall. • Enormous screened porch. • Zoning is Historic Preservation. • Many updates to property during current ownership. Interested buyers should have letter of pre-approval from their lender. Owner financing not available. Broker has ownership interest. SPD available on request.