Turnkey quadplex investment opportunity offering strong in-place income and major recent improvements! This well-maintained and updated property generates $58,440 in annual gross rental income, with all four units currently leased through February 2027, providing immediate cash flow from day one. Recent capital improvements include updated HVAC systems and electrical improvements completed in 2024, per City of Tallahassee permits, plus the added durability of a metal roof. Ideally situated between Monroe Street and Old Bainbridge Road, the property offers convenient access to I-10, Downtown Tallahassee, Midtown, restaurants, shopping, entertainment, movie theaters, and other everyday amenities, making it an attractive and convenient rental location. With established tenants, strong existing income, updated major systems, and no immediate lease-up required, this is an excellent opportunity to add a stabilized, income-producing multifamily asset to your portfolio.
Multi-familyProperty Type
$140Price/Sq.Ft.
Listed by Danielle Andrews• Realty One Group Next Gen
Sale and tax history for 2510 Fred Smith Rd Unit -
Sale History
Tax History
Date
Event
Price
CATRS #405685
Oct 5, 2026
Listed
$450,000
$140/sq ft
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
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Style
Multi-Family (2-4 Unit)
County
Leon County
APN
12073-21-14-20-625-000-0
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Last updated by owner on Oct 5, 2026.
MR-1
Medium Density Residential District
The MR-1 district is intended to be located in areas designated urban residential 2 or suburban on the future land use map of the comprehensive plan, in close proximity to more intensive non-residential uses, including commercial and office uses; and to residentially compatible public facilities such as schools, parks, and transit facilities. The MR-1 district is intended to achieve densities consistent with urban development, use of public transit, and efficient use of public infrastructure. Off-street parking facilities in the MR-1 district shall be located and designed to promote convenient access to pedestrian and mass transit facilities. The MR-1 district shall provide for a wide range of residential housing types. The maximum gross density allowed for new residential development in the MR-1 district is 20 dwelling units per acre, while the minimum gross density allowed is eight dwelling units per acre, unless constraints of concurrency or preservation and/or conservation features preclude the attainment of the minimum densities. Certain community and recreational facilities related to residential uses and day care centers are also permitted.
Permitted uses
Include but are not limited to:
Religious facility
Day care facility
Housing-Single unit
Housing-Multiple units
Housing-Senior
Educational / school
Fire house
Library
Police station
Golf related
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
3/10 Fire Factor
0.15% chance of being in a wildfire in next 30 years
8/10 Heat Factor
7 days above 108° expected this year, 19 days in 30 years
9/10 Wind Factor
99% chance of strong winds in next 30 years
5/10 Air Factor
7 unhealthy days expected this year, 7 days in 30 years
Provided by First Street
Historical weather
Tallahassee, FL • 32303
Average low and high temperatures (°F)
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46
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Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 2510 Fred Smith Rd Unit -
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