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Multifamily

Pinecrest Villas

13609 N 20th St, Tampa, FL 33613

Listing Price: $4,600,000

Cap Rate
5.61%
Number of Units
33
Price/Unit
$139,394
Price/Gross SF
$242.74
Gross SF
18,950

Investment Overview

33-unit multifamily community in Tampa, FL

Investment Highlights

  • 1 mile from RITHM @ Uptown; This groundbreaking $1 Billion project will be one the largest innovation communities in the state boasting 7 million square feet of development
  • 33-unit multifamily community in Tampa, FL
  • Nearly $300 of potential upside, via continued unit renovations
  • Favorable financing available with a 6.78% year-one cash-on-cash return and 9.99% year-three cash-on-cash return
  • Attractive unit mix of 42% two bedroom units
  • Seller recently completed significant capital improvements including converting the property from well to city water
  • 1 mile from University of South Florida
  • 1.2 miles from I-275 allowing convenient access to employment and entertainment throughout Tampa

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President, Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Multifamily

Pinecrest Villas

Listing Price: $4,600,000

Cap Rate
5.61%
Number of Units
33
Price/Unit
$139,394
Price/Gross SF
$242.74
Gross SF
18,950

Investment Highlights

  • 1 mile from RITHM @ Uptown; This groundbreaking $1 Billion project will be one the largest innovation communities in the state boasting 7 million square feet of development
  • 33-unit multifamily community in Tampa, FL
  • Nearly $300 of potential upside, via continued unit renovations
  • Favorable financing available with a 6.78% year-one cash-on-cash return and 9.99% year-three cash-on-cash return
  • Attractive unit mix of 42% two bedroom units
  • Seller recently completed significant capital improvements including converting the property from well to city water
  • 1 mile from University of South Florida
  • 1.2 miles from I-275 allowing convenient access to employment and entertainment throughout Tampa

Investment Overview

33-unit multifamily community in Tampa, FL

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President, Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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