5750 58TH WAY N Kenneth City FL 33709

Jones Lang LaSalle, Inc. (“JLL”) is pleased to present Ashford Bayside, a 189-unit garden community in Kenneth City, FL. The Property offers a mix of studio, one, and two-bedroom units spread across five residential buildings with one leasing center. The Property is perfectly positioned for an interior value-add with sizable potential premiums, with 93 classic units. Situated just five miles from Downtown St. Petersburg, Ashford Bayside enjoys a premier location close to I-275, a major thoroughfare connecting Tampa Bay. The proximity to numerous shopping centers, HCA hospitals, employment hubs, and favorable community amenities make Ashford Bayside a remarkable place to live within one of the strongest fundamental multifamily markets in the state.

• 83% two-bedroom floor plans (156 total units)

• 15% of units (all of Building E) are effectively brand-new product - which were completely rebuilt in 2023

• High-quality concrete block construction

• Strategic value-add opportunity as 28 fully renovated units achieving $300+ premium over 93 classic units (49%)

• Nearby property achieving $300+ premium over Property average rents

• Elevator access for all second & third-floor units

• Well-amenitized property that features a swimming pool, playground, leasing center, dog park, Amazon package lockers, on-site laundry facility, and much more

• 58% of units below market rent - resulting in immediate loss-to-lease recovery ($75K+)

• Recently implemented RUBS system on sewer reimbursements has resulted in higher recovery & additional income on new leases