Aspen Run I & II Tallahassee, FL

• Property-Wide Value-Add Opportunity
• Largest Floor Plans in the Immediate Area
• Strong Submarket Fundamentals
• Offered Below Replacement Costs

Property-Wide Value-Add Opportunity

Aspen Run I & II is presented with 100% classic units, offering a new owner the opportunity to implement a property-wide value-add business strategy. By modernizing the units with an infusion of capital, a new owner would be able to increase rents by an average of $236/mo. Translating to an increase of nearly $800,000 towards the Net Rentable Income.

Largest Floor Plans in the Immediate Area

Aspen Run I & II boasts the largest floor plans in the immediate vicinity, offering a unique differentiator from the comparable properties. With an effective rent per square foot well below market averages, Aspen Run has higher tenant demand than many of the surrounding properties. 

Strong Submarket Fundamentals

Aspen Run I & II sits within the University submarket in the Tallahassee MSA, which has had less than 300 units break ground within the last 10 years. With the current construction pipeline being empty, it’s no surprise that the University submarket has one of the fastest paces of annual rent growth within the MSA. Currently experiencing 1.1% rent growth, this area is expected to increase to 2-3% by the end of 2025/early 2026. 

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