1600 Baldwin Park Drive

SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Villa San Michele. This property is located in Tallahassee, FL, just 7-minutes from Florida State University and 10-minutes from Downtown Tallahassee and consists of 82 townhome units. Currently, the property is operated as a student housing property and is managed by a national student housing property management firm. Moving forward, an investor has the opportunity to transition the property away from student housing and to conventional multifamily housing by switching management to a conventional multifamily property management firm. By doing so, an investor can significantly reduce operational expenses, leading to a projected increase in net operating income of 100.15%.