1223 Cleveland Street # 1-2
Tallahassee, FL, 32310 $ 375,000
Bedrooms-- Baths0.0 Sq 2,680 Monthly Estimate*
$ 2,590
for $375,000. This 2,680 square foot home was built in 2006.
PRIME MULTIFAMILY INVESTMENT OPPORTUNITY NEAR FAMU & FSU! Conveniently located near both university campuses, downtown Tallahassee, FAMU Way, and the Gaines Street and Railroad Square districts, this 2,680-square-foot duplex offers an excellent combination of location, rental income, and investment potential. Each spacious, single-story unit features 3 bedrooms, 2.5 bathrooms, approximately 1,340 square feet of living space, and separately metered utilities paid directly by the tenants. Unit 2 is currently occupied at $1,350 per month with a lease through March 31, 2027, providing immediate rental income. Unit 1 is vacant and was previously rented for $1,450 per month, offering an opportunity to secure an additional tenant or explore owner occupancy. Based on the current rent and Unit 1's previous rental rate, the property offers potential gross rental income of $2,800 per month, or $33,600 annually, subject to occupancy and rental terms. Located near Florida A&M University, Florida State University, the State Capitol, Cascades Park, shopping, dining, and entertainment. Whether you're expanding your investment portfolio or seeking a multifamily property with flexible occupancy options, this is an opportunity worth exploring. Schedule your showing today!
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FeaturesGeneralHeating Central Electric
Cooling CentralAir CeilingFans Electric
Possession CloseOfEscrow
Appliances Dishwasher Microwave Range Refrigerator
HOA Fee 0.0
Architectural Style OneStory
Construction Materials Brick FiberCement
Year Built 2006
Stories Count 1
Unit Number 1-2
Property Subtype MultiFamily
County Leon
New Construction N
Property Type Residential
HOA N
Attached Garage N
Subdivision Name -
Garage Y/N N
Rent Includes None
Special Listing Conditions Standard
Status Active
Directions Use GPS
High School LEON
City Tallahassee
Senior Community Y/N N
Number Of Units Total 2
MLS Area Leon
Carport Y/N N
Listing Terms Cash Conventional FHA
Elementary School BOND
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 4011.0
Home Warranty Y/N N
Middle/Junior High School NIMS
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Tax Lot -
Property Sub Type Additional MultiFamily
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InteriorFlooring Laminate Other
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
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ExteriorParking Features Unassigned
Spa N
Building Area Total 2680.0
Private Pool N
Waterfront Y/N N
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList BySuperior Realty Group LlcBroker
Affordability Calculator
- Monthly Principal & Interest
- $2,590
- Monthly Property Taxes
- $334
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Tallahassee, FL
Average List Price $669,069
Percent of Sale Price 78%
About Tallahassee, FL 189,438 Population
22% Since 2002
$ 42,804 Median Income
30.09 Median Age
20% Households with Children
Trends Information provided by ATTOM Data Solutions.
3571013 Elementary School
3570951 Middle School
Leon High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 10/27/2026 | $375,000 | | Listed Price |