Listed by Marcus & Millichap - RPH Multifamily Group
$1,600,000
7917-7919 Lakeshore Drive
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,480
Net Rentable (SqFt) 6,480
Units 8
Cap Rate 6.76%
NOI $108,185
Occupancy 100%
Pro-Forma Cap Rate 7.39%
Pro-Forma NOI $120,557
Price per SqFt $247
Year Built 1985
Buildings 2
Acreage 0.270
Zoning RM-24
8 Units in Tampa
Marketing description
OFFERING MEMORANDUM AND FINANCIALS AVAILABLE VIA ‘Due Diligence’ BUTTON.
Please reach out to Zach Brown ([email protected]) to discuss the deal.
Investment highlights
- Stabilized 8-unit multifamily community located in North Tampa submarket with a proven history of strong occupancy
- Nearly $300,000 invested in capital improvements with minimal deferred maintenance
- Renovations include six fully gut-renovated units and two partially renovated units
- Recent exterior improvements include seven new HVAC systems, fresh exterior paint on both buildings, a new concrete driveway, new patios and perimeter fencing and restored second-floor staircases
- Concrete block construction offers lower maintenance costs and reduced ownership risk
- Strong historical tenant demand with minimal vacancy
- Additional revenue upside through implementation of the Housing Choice Voucher (Section 8) program, with two-bedroom payment standards up to approximately $1,910 per month for the 33604 ZIP code
- Situated in Flood Zone X with no lender-required flood insurance
- Ideally situated less than 5 minutes from Lowry Park, ZooTampa at Lowry Park, and the Hillsborough River, providing residents with convenient access to recreation and outdoor amenities
- Approximately 10 minutes from Downtown Tampa, the Tampa Riverwalk, Armature Works, and Tampa Heights, placing residents within easy reach of the region’s largest employment, dining and entertainment centers
- Located near major employment and educational hubs including AdventHealth Tampa, Tampa General Hospital, USF, Moffitt Cancer Center, and Busch Gardens, supporting long-term rental demand from healthcare professionals, students and the area’s growing workforce
Listing Contacts
Listed by Marcus & Millichap - RPH Multifamily Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$108,185.00
$9,015.42/mo
Valuation Metrics
0
DSCR
6.76%
Cap Rate
6.76%
ROI
Map
Zoning
RM-24 ResidentialMulti FamilyResidential Multifamily
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View all 144 uses Last updated Apr 17, 2026 For deeper zoning details, reports are available at Zoneomics
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