13036 Kain Palms Ct, Tampa, FL 33612

ONE Sotheby's is pleased to present a 72-unit multifamily housing complex located in the Uptown Tampa Innovation District, offering a mix of 12 one-bedroom, 12 two-bedroom, and 48 three-bedroom units. This property is a stabilized institutional-quality asset with strong occupancy offering steady in-place cash flow. The property underwent $10,000 in renovations per unit, including upgrading the classic units, repainting the exterior of the building, and more. The property is less than 1 mile from the University of South Florida (USF) Tampa campus. Excellent Student Housing or University Staff Housing Candidate.

(Conservatively 7-9 CAP at the asking price) is by renting these by the room for student housing, where you can rent these rooms @ $800 a piece and get $2400 on each of those where they are now renting for $1800. If you follow this program, you will go from 72 student housing units to 180. Again, following the rents of $800 per Room x 180 = $1,728,000 in gross income, you now have $1,318,000, which is a very healthy 34% increase in rental income for USF students. Math is math, and this one works well under this scenario.

Further upside can be achieved by upgrading the existing classical units. Located adjacent to multiple large and notable employers, including Advent Health Tampa, Florida State University, and the James A. Haley VA Hospital, Uptown Palms is strategically positioned to attract students and medical professionals in the area. This, coupled with an above-average positive absorption and almost no new deliveries in the past several quarters in the North Tampa market, makes Uptown Palms an ideal asset.

Excellent Mix of renovated units: 12 one-bed/one-bath, 12 two-bed/one-and-a-half-bath, and 48 large three-bed/two-bath units.