3034 Jefferson Street, Marianna, FL 32446 - Jackson County

Welcome to The Grove Townhome Apartments, At $5,200,000, this 44-unit multifamily asset delivers Day 1 cash flow with a $383,133 Takeover NOI and a strong 7.37% cap rate. Situated on 4.43 acres with R-3 zoning (potential to expand up to 70 units), the property is 100% occupied in a high-demand rental market where units lease in roughly one week. Ownership has invested $800,000+ in renovations and improvements, positioning the next buyer for immediate upside through a clear, low-cost value-add plan: convert 6 two-bedroom layouts to three-bedroom units, bring 5 month-to-month leases to market, and push remaining units to proven market rents using on-property comps. Additional rent drivers include adding washer/dryers (hookups in place), implementing trash/pest bill-backs, and introducing pet rent. For longer-term growth, an adjacent 3-acre R-3 parcel may be acquired for under $100,000, allowing up to 48 additional units-a rare expansion opportunity i.

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