Multifamily

Largo Lakes Villas

3322 Camelot Dr, Largo, FL 33771

Listing Price: $3,075,000

Cap Rate
6.70%
Number of Units
24
Price/Unit
$128,125
Price/Gross SF
$136.85
Gross SF
22,470

Investment Overview

24-Unit Apartment Community in Largo, Florida (Tampa Bay MSA)

Investment Highlights

  • Ability to Increase Average In-Place Rents by $264 and Increase Effective Gross Income 24% by Year Two Through Continued Renovations
  • Attractive Unit Mix with Majority Two-Bedroom Units
  • Roofs Replaced in November and December of 2017
  • Assumable Agency Debt with No COVID Reserve Requirements
  • Attractive Supplemental Debt Available as Well, Offering an Outsized Cash-on-Cash Return Following Improvements
  • Amenities Include a Swimming Pool, Shuffleboard Courts and On-Site Laundry Facilities
  • Situated in Pinellas County, Florida's Most Densely Populated County
  • Convenient Access to Tampa, St. Petersburg and Clearwater Beach, TripAdvisor's Fifth Best Beach in the U.S.

Exclusively Listed By

Listing Price: $3,075,000

Cap Rate
6.70%
Number of Units
24
Price/Unit
$128,125
Price/Gross SF
$136.85
Gross SF
22,470

Investment Highlights

  • Ability to Increase Average In-Place Rents by $264 and Increase Effective Gross Income 24% by Year Two Through Continued Renovations
  • Attractive Unit Mix with Majority Two-Bedroom Units
  • Roofs Replaced in November and December of 2017
  • Assumable Agency Debt with No COVID Reserve Requirements
  • Attractive Supplemental Debt Available as Well, Offering an Outsized Cash-on-Cash Return Following Improvements
  • Amenities Include a Swimming Pool, Shuffleboard Courts and On-Site Laundry Facilities
  • Situated in Pinellas County, Florida's Most Densely Populated County
  • Convenient Access to Tampa, St. Petersburg and Clearwater Beach, TripAdvisor's Fifth Best Beach in the U.S.

Investment Overview

24-Unit Apartment Community in Largo, Florida (Tampa Bay MSA)

Exclusively Listed By

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