Description

Jones Lang LaSalle Inc. (JLL) is pleased to present Hillwood Apartments, a value-add investment opportunity in Tallahassee, FL. Built between the 1980s (Phase I) and 1990s (Phase II), this 108-unit, two-story wood-frame property benefits from recent capital improvements, balanced unit mix, and proximity to major employment centers.

The property features 66.67% two-bedroom units plus townhomes and three-bedroom options, with in-unit washer/dryer connections, appliances in 90%+ units, private outdoor spaces, vaulted ceilings, walk-in closets, and a community pool. Recent ownership investments include roof replacements and exterior staircases, contributing to a strong 92% average occupancy over 12 months.

Hillwood's location near Florida State University (1.8 miles), Florida A&M University (3.8 miles), Tallahassee State College (1.6 miles), Tallahassee Memorial HealthCare (5.6 miles), and the State Capitol (4 miles) positions it to capture sustained demand from Florida's capital city's expanding university enrollment and permanent government operations. The new owner acquires a well-performing asset with minimal deferred maintenance and upside potential through light unit renovations.

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