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

Local realty services provided by:Better Homes and Gardens Real Estate Florida 1st
1240 Lake Avenue #1 and 2,Tallahassee, FL 32310
$175,000
  • - 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:$175,000
  • Price per sq. ft.:$113.71

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

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Home facts

  • Year built:1940
  • Listing ID #:394503
  • Added:54 day(s) ago
  • Updated:February 25, 2026 at 03:52 PM

Rooms and interior

  • Living area:1,539 sq. ft.

Heating and cooling

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

Structure and exterior

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

Schools

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

Finances and disclosures

  • Price:$175,000
  • Price per sq. ft.:$113.71
  • Tax amount:$1,704

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