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Multifamily

Meadowlake Palm Harbor

2690 Coral Landings Blvd, Palm Harbor, FL 34684

Listing Price: $2,600,000

Cap Rate
2.61%
Number of Units
15
Price/Unit
$173,333
Price/Gross SF
$154.83
Gross SF
16,793

Investment Overview

Bulk condominium purchase in 168-unit highly amenitized condominium community in Palm Harbor (Tampa Bay MSA)

Investment Highlights

  • Bulk condominium purchase in 168-unit highly amenitized condominium community in Palm Harbor (Tampa Bay MSA)
  • Price per unit is 85% of recent individual sale comps
  • Unit interior renovations may realize a 63% increase in Effective Gross Income by end of Year 2
  • Desirable unit mix, with all large two-bedroom/two-bathroom units averaging 1,120 sf, most with screened-in lanais
  • Tenants pay all utility expenses
  • Lower price-point opportunity to own in large-scale, amenity rich community – including sparkling swimming pool; expansive fitness center; beach volleyball, tennis & shuffleboard; car care center; playground, picnic & grilling area; putting green; walking path; business center & laundry room
  • Beautifully maintained lakefront community with lush landscaping
  • A-Rated elementary, middle and high schools

Exclusively Listed By

Financing By

Multifamily

Meadowlake Palm Harbor

Listing Price: $2,600,000

Cap Rate
2.61%
Number of Units
15
Price/Unit
$173,333
Price/Gross SF
$154.83
Gross SF
16,793

Investment Highlights

  • Bulk condominium purchase in 168-unit highly amenitized condominium community in Palm Harbor (Tampa Bay MSA)
  • Price per unit is 85% of recent individual sale comps
  • Unit interior renovations may realize a 63% increase in Effective Gross Income by end of Year 2
  • Desirable unit mix, with all large two-bedroom/two-bathroom units averaging 1,120 sf, most with screened-in lanais
  • Tenants pay all utility expenses
  • Lower price-point opportunity to own in large-scale, amenity rich community – including sparkling swimming pool; expansive fitness center; beach volleyball, tennis & shuffleboard; car care center; playground, picnic & grilling area; putting green; walking path; business center & laundry room
  • Beautifully maintained lakefront community with lush landscaping
  • A-Rated elementary, middle and high schools

Investment Overview

Bulk condominium purchase in 168-unit highly amenitized condominium community in Palm Harbor (Tampa Bay MSA)

Exclusively Listed By

Financing By

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