1320 Terrace Street Unit House and Cottage, Tallahassee, FL 32303

Property Description

RARE MIDTOWN/LAFAYETTE PARK INVESTMENT OPPORTUNITY! TWO RESIDENCES • PROVEN RENTAL HISTORY • FULLY FURNISHED & TURNKEY! Exceptional opportunity to own TWO residences on one beautifully landscaped, both fully fenced parcel in desirable Midtown/Lafayette Park! Featuring THREE YEARS OF CONSISTENT RENTAL RATES totaling $5,350 monthly ($64,200 annualized), representing an attractive 8.1% GROSS RENTAL YIELD at the $795,000 asking price, before expenses. Ideal for investors, FSU parents purchasing housing for their college students, medical professionals, executive housing, or multigenerational living. PRIME LOCATION — JUST FIVE BLOCKS FROM TALLAHASSEE MEMORIAL HOSPITAL! A straight walk along East 7th Avenue to TMH, the clinical anchor of the expanding FSU Health academic medical system. An outstanding location for furnished rentals catering to physicians, traveling nurses, medical residents, visiting faculty and other healthcare professionals. Convenient to Midtown restaurants and shopping, downtown, the State Capitol, Leon High School, FSU and FAMU. The beautifully updated main residence at 1320 Terrace Street offers 4 bedrooms and 2 baths, or 3 bedrooms plus an office. Features include refinished hardwood floors, recessed LED lighting, a gas fireplace and an impressive chef's kitchen with granite countertops, marble subway-tile backsplash, a 48-inch professional gas range with dual ovens and a 184-bottle Marvel wine cooler. Extensive improvements include a NEW ROOF, new refrigerator, updated electrical wiring and panel, and a Rinnai tankless gas water heater. The charming detached 1-bedroom, 1-bath cottage at 731 E. 7th Avenue features its own street address, separate electric meter, open living area, hardwood and tile floors, generous closets, built-in storage and NEW HVAC. French doors open to a private brick patio and tropical backyard. A detached laundry and storage building includes a washer and dryer. SOLD FULLY FURNISHED & TURNKEY! Both residences include furnishings, appliances, televisions, microwaves, washers and dryers, offering an exceptional opportunity for investors seeking furnished or traditional rental properties without the expense of furnishing two separate homes. TWO ADDRESSES • TWO RESIDENCES • THREE YEARS OF CONSISTENT RENTAL RATES • WALKING DISTANCE TO TMH • ONE EXCEPTIONAL INVESTMENT OPPORTUNITY!