1240 Lake Avenue #1 and 2, Tallahassee, FL 32310

Tallahassee
Local realty services provided by:Better Homes and Gardens Real Estate Florida 1st
1240 Lake Avenue #1 and 2,Tallahassee, FL 32310
$125,000
  • - Beds
  • - Baths
  • 1,539 sq. ft.
  • Multi-family
  • Active
Listed by: katherine searcy
Office: the naumann group real estate
MLS#:394503
Source:FL_TBR

Price summary

  • Price:$125,000
  • Price per sq. ft.:$81.22

About this home

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...

Contact an agent

contact an agent

Yes, I would like more information. Please use and/or share my information with a BHGRE®  affiliated agent to contact me about my real estate needs. By clicking Send message, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a BHGRE®  affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (CENTURY 21® , Coldwell Banker® , Corcoran® , ERA® , Sotheby's International Realty® ). I acknowledge that I have read and agree to theTerms of useandPrivacy notice

Home facts

  • Year built:1940
  • Listing ID #:394503
  • Added:139 day(s) ago
  • Updated:May 21, 2026 at 02:49 PM

Rooms and interior

  • Flooring:Vinyl
  • Kitchen Description:Refrigerator
  • Living area:1,539 sq. ft.

Heating and cooling

  • Cooling:Central Air, Electric
  • Heating:Central, Electric
  • Central air:Yes

Structure and exterior

  • Year built:1940
  • Building area:1,539 sq. ft.
  • Levels:1 Story

Schools

  • High school:RICKARDS
  • Middle school:NIMS
  • Elementary school:PINEVIEW

Finances and disclosures

  • Price:$125,000
  • Price per sq. ft.:$81.22
  • Tax amount:$1,704

Parking

  • Parking description:Assigned, On Street, Parking Spaces

New listings near 1240 Lake Avenue #1 and 2