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Listed price in listed location currency (USD).
$175,000

310

MLS® 394474

  • Key Facts
  • Description
  • Map

Key Facts

Type Single Family Residence
Levels Residential
Size 1539 sqft
Garage No
Taxes $1,704
Days Active 0
Lot Size 0.17 acres
Approx. Age 1940
Avg. Price Per Sqft $113
MLS® Number 394474

Property Address: 1240 Lake Ave, TALLAHASSEE, FL, 32310-5757

Average square foot calculated using Size range provided by listing agent.

Description

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 professionals. Two units on one lot = higher ROI Prime university proximity = strong rental demand Value-add renovation opportunity Multiple exit strategies (hold, refinance, or resell)
MLS® Number394474
Laundry Level
Central VacNo
FireplaceNo
Acreage0.17
Exterior
GarageNo
Approx. Age1940
Basement
DrivewayParking Spaces
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Similar Listings

Price History

-End Date
Not Sold YetSold Price

For Sale

Dec 31, 2025List Date
$175,000List Price
  • Commute

Commute

Starting Address
Destination Address
1240 Lake Ave, TALLAHASSEE, FL

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