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11919290
11919281

4325 Aegean Dr, Tampa, FL 33611

JT Multifamilty Team
Listed by JT Multifamilty Team
$4,500,000
1052 days on market
Updated 127 days ago

Brandychase Condominiums (23 out of 168 Units Community)

Details
APN Multiple Folios
Property Type Multifamily
Sub Type Apartment Building
Square Footage 23,640
Net Rentable (SqFt) 22,120
Units 23
Cap Rate 6.95%
NOI $312,604
Occupancy 100%
Pro-Forma Cap Rate 7.4%
Pro-Forma NOI $332,879
Price per SqFt $190
Class B
Year Built 1981
Year Renovated 2022
Buildings 3
Stories 2
Investment Type Value Add
Occupancy Date 10/27/2023
Ownership Fee Simple

Multifamily | 23 Units | $195,652/unit

Marketing description

EMAIL ONLY: [email protected] to request information, schedule showing, or submit offer.

Investment highlights

  • Constructed in 1981 of Concrete Block in South Tampa

  • On-Site Amenity Package Superior to Immediate Competitive Properties

  • Assumable Owner Financing Available terms in Offering Memorandum ~ 75% LTV

  • Prime location in close proximity to the Westshore Marina District redevelopment

  • Westshore Marina District: 52 acre mixed-use redevelopment including residential, retail, restaurants, office space, boat slips and 1.5 mile-long Waterfront Park

  • 15% Cash on Cash EOY1

  • On-site amenity package superior to immediate competitive properties

  • Three Month Lease Minimum in HOA

CAPITAL IMPROVEMENTS 2018 - 2021

  • New Roofs on All Three Buildings

  • Parking Lots Repaved and Restriped

  • New Exterior Building and Shutter Paint

  • Gutters Added

  • New Washer/Dryers in Common Area Laundry Facilities (One in Each Building)

  • New Landscape Package

Listing Contacts

JT Multifamilty Team
Listed by JT Multifamilty Team

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$312,604.00
$26,050.33/mo

Valuation Metrics

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DSCR
6.95%
Cap Rate
6.95%
ROI

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