Listed by Marcus & Millichap - RPH Multifamily Group, Marcus & Millichap
$2,990,000
Terrace Square Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 20,392
Units 26
Cap Rate 7.09%
NOI $211,878
Pro-Forma Cap Rate 8.48%
Pro-Forma NOI $283,197
Price per SqFt $147
Year Built 0
Buildings 10
Zoning RMC-20
26 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
- A 26-unit multifamily community in Temple Terrace, Florida (Tampa Bay MSA)
- Favorable unit mix of 100% two- and three-bedroom units
- All new roofs in 2026 and majority of HVAC systems replaced in last six years
- Tile flooring throughout
- Concrete block construction built in two phases —1974 and 1982
- Significant value add potential through unit-interior renovations and common-area improvements which may realize a 21.5% increase in Effective Gross Income end of Year Two
- Entire community uses well water—drastically reducing normalized water utility costs for the area
- Five minutes to Interstate 75
- Five minutes to University of South Florida with more than 50,000 students
- Ten minutes to 415-bed Haley VA Hospital & internationally renowned Busch Gardens Tampa Bay
Listing Contacts
Listed by Marcus & Millichap - RPH Multifamily Group, Marcus & Millichap
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$211,878.00
$17,656.50/mo
Valuation Metrics
0
DSCR
7.09%
Cap Rate
7.09%
ROI
Map
Zoning
RMC-20 ResidentialMulti FamilyResidential Multifamily Conventional
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View all 296 uses
View all 296 uses Last updated Mar 23, 2026 For deeper zoning details, reports are available at Zoneomics
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