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)
Meadowlake Palm Harbor
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
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
