Situated in Tallahassee FL, Parkway Square is a 277-unit multi-family property. Amenities include a resort-style swimming pool, sundeck, clubhouse, business center, fitness center, volleyball court, tennis courts,dog park and picnic area. Parkway Square has below market rents on its apartments. The rents are currently 20% below market rents and the upside is to renovate apartments and raise the rents to market levels. The property offers investors a unique opportunity to get in at a low basis with upside.

Purchase Price: $33,682,000 (June 2023)
Total Equity: $12,200,000
Initial Annual Yield: 7.6%