Listed by Marcus & Millichap - RPH Multifamily Group
$3,975,000
Tampatown Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 10,500
Units 16
Cap Rate 6.11%
NOI $242,816
Occupancy 100%
Pro-Forma Cap Rate 7.08%
Pro-Forma NOI $282,439
Price per SqFt $379
Year Built 1979
Buildings 1
Acreage 0.440
Zoning RM-24
Ground Lease No
16 Units in Tampa
Marketing description
OFFERING MEMORANDUM AND FINANCIALS AVAILABLE VIA ‘Due Diligence’ BUTTON.
Please reach out to Ned Roberts ([email protected]) to discuss the deal.
Investment highlights
- 16-unit multifamily community located in affluent South Tampa, Florida
- All units recently upgraded to Class ‘A’ standard, with new quartz countertops and undermount sinks, new white shaker cabinetry, stainless steel appliances with built-in microwave and dishwasher, brushed gold fixtures and hardware and new vinyl plank flooring throughout
- Asset is 100% occupied in highly constrained submarket
- Concrete block construction, with freshly painted exterior
- New dimensional shingle roof in 2019
- BBQ/picnic area and on-site laundry facility (on a cancelable profit share)
- $120,078 two-mile average household income is 17.57% higher than Florida average
- Situated in the heart of South Tampa, the asset affords ease of access to Downtown Tampa, Westshore Business District, Hyde Park Village, Midtown, Water Street Tampa, Interstate 275, and numerous nearby employers, restaurants and retail options
Listing Contacts
Listed by Marcus & Millichap - RPH Multifamily Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$242,816.00
$20,234.67/mo
Valuation Metrics
0
DSCR
6.11%
Cap Rate
6.11%
ROI
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