NOT LISTED FOR SALE

205 Lovelace Dr Unit 14 Tallahassee, FL 32304

University Neighborhood

Estimated Value: $234,000 - $582,000

17 Beds
15 Baths
8,344 Sq Ft
$44/Sq Ft Est. Value

Last Sold July 25, 2022

Last sale price $1,200,000 $144 Per Sq Ft

Current estimated payment $2,232/month

104 Days on Market

Highlights

  • Ceramic Tile Flooring
  • Central Heating and Cooling System
  • Combination Kitchen and Dining Room

About This Home

As of July 2022

Multi-family Property within 1/2 mile of FSU and the FSU Football Stadium. Property includes 3 quadruplexes and 1 duplex. Quadruplexes are all 1 bedroom 1 bath for a total of 12 bedrooms. The duplex has a 4 bedroom 2 bath on one side and a 1 bedroom 1 bath on the other side for a total of 5 bedrooms. There is a a total of 17 bedrooms. Location location location.....Property is just minutes from FSU campus and stays rented.

Last Agent to Sell the Property

Kee Elwell

NAI TALCOR Commercial License #362753 Listed on: 12/29/2021

NAI TALCOR Commercial

Last Buyer's Agent

Staci Sutton

Lombardi Lemay Realty License #3472497

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,381

Year Built

  • Built in 1977

Lot Details

  • 7,405

Home Design

  • Frame Construction

Interior Spaces

  • 8,344 Sq Ft Home
  • 2-Story Property
  • Combination Kitchen and Dining Room

Kitchen

  • Range
  • Dishwasher

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • On-Street Parking
  • Unassigned Parking

Schools

  • Riley Elementary School
  • NIMS Middle School
  • Godby High School

Utilities

  • Central Heating and Cooling System

Listing and Financial Details

  • The owner pays for lawn maintenance
  • Tax Lot 13

Community Details

Overview

  • Westwood Subdivision

Building Details

  • Gross Income $109,863
  • Net Operating Income $68,901

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,381

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Class: Multi-Family
  • Inside Capital Circle: Yes
  • Lot: 13
  • Metes Bounds: Yes
  • Sold Price Per Sq Ft: 143.82
  • Subdivision: Westwood
  • Tax Item Number: 2134750000016, 015, 014, 013
  • Type: Multi-Family
  • Miscellaneous Items: Units Vary
  • L V T Date: 01/18/2022
  • Total Sq Ft: 8344
  • Year Built: 1977
  • Directions: Take Pensacola St. just west of the FSU Stadium to the corner of Lovelace, Property on the left.
  • Elementary School: RILEY
  • Geo Longitude: -84.31239
  • High School: GODBY
  • Middle School: NIMS
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic/Clay, Vinyl Tile
  • Equipment: Dead Bolt, Dishwasher, Range, Refrigerator
  • Floor Plan: Story - Two plus
  • Living Area Description: Kitchen/Din Rm/Liv Room

Exterior Features

  • Construction: Frame

Garage/Parking

  • Parking: Area - Unassigned, On Street

Utilities

  • Heating: Central, Electric
  • Cooling: Central, Electric

Condo/Co-op/Association

  • Unit: 14

Schools

  • Elementary School: RILEY
  • Middle School: NIMS
  • High School: GODBY

Lot Info

  • Lot Dimensions: 400 X 82 X 400 X 82
  • Geo Subdivision: FL

Rental Info

  • Lease Terms: 1 Year
  • Tenants Rent Includes: Lawn Maintenance

Multi Family

  • Capitalization Rate: 5
  • Expenses: 40962
  • Gross Income: 109863
  • Net Income: 68901
  • Operating Exp Accuracy: Owner Provided
  • Owners Expenses: Advertising, Insurance, Legal/Accounting, Licenses/Permits, Maintenance/Repairs, Management, Supplies
  • Units: 14

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 29, 2021
Closed on
Jul 18, 2022
Sold by
Lovelace Corner Llc
Bought by
Lovelace Re Llc
Seller's Agent
Kee Elwell
NAI TALCOR Commercial
Buyer's Agent
Staci Sutton
Lombardi Lemay Realty
List Price
$1,325,000
Sold Price
$1,200,000
Premium/Discount to List
-$125,000
-9.43%
Current Estimated Value
$367,727

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$832,273
Avg. Annual Appreciation
-30.82%
Original Mortgage
$993,031
Outstanding Balance
$945,892
Interest Rate
5.23%
Mortgage Type
New Conventional
Estimated Equity
-$578,165

Purchase Details

Closed on
Feb 27, 2017
Sold by
Reznik Michael H and Reznik Steven P
Bought by
Lovelace Corner Llc
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Lovelace Re Llc $1,250,000 New Title Company Name
Lovelace Corner Llc -- Attorney
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lovelace Re Llc $993,031
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/25/2022 07/25/22 Sold $1,200,000 -9.4% $144 / Sq Ft
05/03/2022 05/03/22 For Sale $1,325,000 0.0% $159 / Sq Ft
05/03/2022 05/03/22 Pending -- -- --
03/29/2022 03/29/22 Price Changed $1,325,000 -10.2% $159 / Sq Ft
01/18/2022 01/18/22 For Sale $1,475,000 -- $177 / Sq Ft
Source: Capital Area Technology & REALTOR® Services (Tallahassee Board of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $3,381 $175,752 $45,000 $130,752
2023 $3,214 $166,116 $45,000 $121,116
2022 $2,774 $148,803 $45,000 $103,803
2021 $2,774 $133,811 $40,000 $93,811
2020 $2,530 $133,810 $40,000 $93,810
2019 $2,473 $129,375 $40,000 $89,375
2018 $2,399 $124,355 $40,000 $84,355
2017 $2,396 $122,714 $0 $0
2016 $2,383 $120,369 $0 $0
2015 $2,331 $118,092 $0 $0
2014 $2,331 $116,908 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Kee Elwell

    Seller's Agent in 2022

    Kee Elwell

    NAI TALCOR Commercial

    (850) 509-5242

    1 in this area

    7 Total Sales

    Kee Elwell
    Section Image

  • S

    Buyer's Agent in 2022

    Staci Sutton

    Lombardi Lemay Realty

    Section Image
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Map

Source: Capital Area Technology & REALTOR® Services (Tallahassee Board of REALTORS®)

MLS Number: 341222

Capital Area Technology & REALTOR® Services (Tallahassee Board of REALTORS®)

APN: 21-34-75-000-016.0

Florida Leon County Tallahassee 32304 University

205 Lovelace Dr Unit 14, Tallahassee, FL

This home is located at 205 Lovelace Dr Unit 14, Tallahassee, FL 32304 since 29 December 2021 and is currently estimated at $367,727, approximately $44 per square foot. This property was built in 1977. 205 Lovelace Dr Unit 14 is a home located in Leon County with nearby schools including John G Riley Elementary School, R. Frank Nims Middle School, and Amos P. Godby High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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