For sale Multi-Family Home

Listed Sep 6, 2026

$1,500,000 Est. $9,921/mo

601 Pope Street 1 2 605 Pope Street

  • 8,800

    Sq ft

The story

**INVESTOR OPPORTUNITY!** Two all-brick buildings offering significant income potential in a convenient Tallahassee location. Previously operated as student housing, each building features 8 bedrooms and 8 bathrooms, providing a combined total of 16 rentable rooms across both properties. Currently vacant, offering investors the opportunity to establish their own leasing strategy and capture future rental income. Inspections have been completed, and identified items are actively being addressed by the seller. **Seller offering a 7% cap-rate-based income incentive, structured to cover the first year of rental income, with an acceptable offer. Ideal for investors seeking a student-housing opportunity in Tallahassee. Buyer to verify all measurements, permitted use, rental potential, expenses, and investment projections.

Facts & features

Home type

Multi-Family Home

Year built

2014

Price per sq ft

$170

Included features

  • Cooling

    Central Air

  • Heating

    Central

  • Appliances

    Dryer, Dishwasher, Microwave, Range, Refrigerator, Refrigerator With Ice Maker, Washer

  • Flooring

    Laminate

  • Exterior

    Fence

Mortgage calculator

Estimated monthly payment

$9,921 /mo

7% rate · 30-yr fixed · 20% down

  • Principal & interest $7,984
  • Property tax $1,500
  • Insurance $438

Includes principal, interest, taxes & insurance.

Your Property Journey

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Listing Broker

The Naumann Group Real Estate

Broker Name

The Naumann Group Real Estate