3034 Jefferson ST Active Save Request In-Person Tour Request Virtual Tour
Marianna,FL 32446
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 51,814 sqft
Price per Sqft $106
MLS Listing ID 1054166
Year Built 2000
Annual Tax Amount $30,150
Tax Year 2024
Lot Size 4.430 Acres
Property Sub-Type Multi Family
Property Description
Discover The Grove Townhome Apartments — A Proven Performer with Compelling Upside. The Grove is a stabilized, 44-unit B-Class community on 4.43 acres of R-3 zoned land in Marianna, FL, offering both strong in-place cash flow and meaningful value-add potential. Recent $800K+ in renovations have enhanced curb appeal and efficiency. The property is 100% occupied, with units leasing in under a week, underscoring local demand. Income upside is immediate: NOI is projected to rise 17.5% by 2026 through market rent adjustments, converting month-to-month tenants, and upgrading the seven remaining 2BR units to 3BR layouts proven to command premiums. Zoning permits up to 70 units, supporting long-term expansion. Ideally located near I-10, Family Dollar, Jackson Hospital, and Chipola College, The Grove benefits from 28% projected job growth and strong demand for affordable 3BR rentals under $1,500. With its solid mix, development potential, and detailed financials available,
Location
State FL
County Jackson
Area 999 - Out Of Area
Interior
Cooling Central Air
Inclusions Building & Land
Exterior
Exterior Feature ExteriorFeatures
Parking Features Parking Lot
Utilities Available Water Connected
Roof Type Shingle
Building
Lot Description Many Trees
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Virtual Tour https://www.propertypanorama.com/instaview/spc/1054166