Multifamily
7917-7919 Lakeshore Drive
7917 Lakeshore Dr, Tampa, FL 33604
Listing Price: $1,600,000
Cap Rate
6.76%
GRM
9.50
Investment Overview
Stabilized 8-unit multifamily community located in North Tampa sub-market with a proven history of strong occupancy
7917-7919 Lakeshore Drive
Investment Highlights
- Stabilized 8-unit multifamily community located in North Tampa sub-market 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 zipcode
- Situated in Flood Zone X with no lender-required flood insurance
Investment Highlights
- Stabilized 8-unit multifamily community located in North Tampa sub-market 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 zipcode
- Situated in Flood Zone X with no lender-required flood insurance
Investment Overview
Stabilized 8-unit multifamily community located in North Tampa sub-market with a proven history of strong occupancy
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