Value-Add Interior Renovation Opportunity

Shadow Ridge presents the opportunity to continue upgrading classic units through interior renovations including updated flooring, countertops, cabinetry, and appliance packages, allowing new ownership to capture additional rental upside.

Recent Capital Improvements Completed

Over the past five months, ownership has invested nearly $380K on capital improvements at Shadow Ridge, focused on both interior upgrades and exterior property enhancements. Interior improvements include updated flooring, renovated kitchens and bathrooms, upgraded cabinetry and countertops, new appliances, and in-unit washer and dryer installations in select units. Exterior improvements include roof repairs, asphalt paving, and sidewalk upgrades, helping enhance the property’s overall condition and curb appeal while positioning the asset for continued operational upside through additional interior renovations and rental growth.

Top Employers with Nearly 50,000 Jobs

The region’s largest employers: State of Florida, Florida State University, Florida A&M University, and Tallahassee Memorial HealthCare, collectively support nearly 50,000 jobs, driving a durable renter base.

Proximity to Three Major Institutions Driving Housing Demand

Shadow Ridge is located minutes from Florida State University, Florida A&M University, and Tallahassee State College, three major institutions that anchor Tallahassee’s economy and housing demand. Collectively, these universities enroll more than 70,000 students, support over 24,000 jobs, and generate approximately $4.4 billion in annual economic impact. This concentration of students, faculty, and staff creates a deep and durable renter base, driving consistent housing demand throughout the Tallahassee market.

Located Near Two Major Healthcare Anchors

Shadow Ridge benefits from proximity to Tallahassee Memorial HealthCare (772 beds, ~6,000 employees) and HCA Florida Capital Hospital (~266 beds, ~1,400 employees). These two major regional healthcare systems serve North Florida and South Georgia while

providing thousands of stable jobs that help support consistent housing demand in the Tallahassee market.