FL > Tallahassee > Bloxham Heights
Tallahassee, FL 32310,1240 Lake Avenue
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Tallahassee, FL 32310,1240 Lake Avenue
Tallahassee, FL 32310,1240 Lake Avenue
Tallahassee, FL 32310,1240 Lake Avenue
Tallahassee, FL 32310,1240 Lake Avenue
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2026
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Torris Bethea

Torris Bethea

Blue Legacy Real Estate Group LLC

+1(850) 570-6655
$ 175,000
Est. payment /mo
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1240 Lake Avenue Tallahassee, FL 32310

3 Beds

1 Bath

1,539 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Detached Single Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,539 sqft

Price per Sqft $113

Subdivision Bloxham Heights

MLS Listing ID 394474

Style Cottage

Bedrooms 3

Full Baths 1

Construction Status Siding-Wood,Crawl Space

Year Built 1940

Lot Size 7,405 Sqft

Property Sub-Type Detached Single Family

Property Description

High-Cash-Flow Investor Opportunity – Two Homes on One Lot Near Universities. Rare value-add investment in a prime university-area rental market. Two separate homes on one lot create multiple income streams with serious upside for the savvy investor. Properties like this don't come around often—especially this close to major universities. House #1: ~722 sq ft, 3 bedroom / 1 bathrooms - needs renovations. House #2: ~817 sq ft, 3 bedrooms / 1 bathroom is currently rented. Both homes are separately livable and perfectly positioned for student housing, mid-term rentals, or long-term tenants. With targeted renovations, investors can push rents, force appreciation, and significantly boost cash flow. Located in a high-demand rental corridor close to universities, shopping, dining, and public transportation—ensuring consistent tenant demand and low vacancy. Perfect for investors looking to maximize returns, build equity fast, and dominate a rental market fueled by students and professionals. Two units on one lot = higher ROI Prime university proximity = strong rental demand Value-add renovation opportunity Multiple exit strategies (hold, refinance, or resell)

Location

State FL

County Leon

Area Leon

Rooms

Master Bedroom 13x9

Bedroom 2 11x9

Bedroom 3 7x9

Living Room 11x9

Dining Room 7x11 7x11

Kitchen 13x9 13x9

Family Room 0x0

Interior

Equipment Refrigerator

Exterior

Exterior Feature Cottage

Parking Features Parking Spaces

Utilities Available Electric

View None

Road Frontage Paved

Private Pool No

Building

Lot Description Separate Family Room, Separate Dining Room

Story Story - One

Level or Stories Story - One

Construction Status Siding-Wood,Crawl Space

Schools

Elementary Schools Pineview

Middle Schools Nims

High Schools Rickards

Others

Ownership Casa Bianca Realty Llc

SqFt Source Tax

Miscellaneous None

Acceptable Financing 203K/Renovation, Cash Only

Listing Terms 203K/Renovation, Cash Only

Listed by The Naumann Group Real Estate
Torris Bethea

Torris Bethea

Broker | BKBK 3362428

+1(850) 570-6655

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