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Multifamily

Terrace Portfolio

9606 N 46th St, Tampa, FL 33617

Listing Price: $4,700,000

Cap Rate
5.83%
Number of Units
40
Price/Unit
$117,500
Price/Gross SF
$152.84
Gross SF
30,752

Investment Overview

Two-property, 40-unit multifamily portfolio in Tampa, Florida

Investment Highlights

  • Temple Terrace Townhomes (24-unit townhome units) & Terrace Hill Apartments (16 units)
  • Properties located within 3 minutes of each other
  • Strong value-add opportunity with ability to increase Effective Gross Income by 28.7 percent through renovations
  • Attractive unit mix with majority two-bedroom units
  • Washer/dryer connections in all units at Temple Terrace Townhomes; laundry facility which can be re-activated at Terrace Hill
  • Walking distance to Busch Gardens theme park and Adventure Island water park
  • Minutes away from University of South Florida (#3 public university in Florida, with more than 40,000 students), Haley VA Medical Center (largest in Florida with 415 beds) and University Mall (currently undergoing a $1 billion transformation to Uptown community)
  • Short drive to major interstates 275 and 75 with easy access to Downtown Tampa, Westshore and Tampa International Airport

Exclusively Listed By

Listing Price: $4,700,000

Cap Rate
5.83%
Number of Units
40
Price/Unit
$117,500
Price/Gross SF
$152.84
Gross SF
30,752

Investment Highlights

  • Temple Terrace Townhomes (24-unit townhome units) & Terrace Hill Apartments (16 units)
  • Properties located within 3 minutes of each other
  • Strong value-add opportunity with ability to increase Effective Gross Income by 28.7 percent through renovations
  • Attractive unit mix with majority two-bedroom units
  • Washer/dryer connections in all units at Temple Terrace Townhomes; laundry facility which can be re-activated at Terrace Hill
  • Walking distance to Busch Gardens theme park and Adventure Island water park
  • Minutes away from University of South Florida (#3 public university in Florida, with more than 40,000 students), Haley VA Medical Center (largest in Florida with 415 beds) and University Mall (currently undergoing a $1 billion transformation to Uptown community)
  • Short drive to major interstates 275 and 75 with easy access to Downtown Tampa, Westshore and Tampa International Airport

Investment Overview

Two-property, 40-unit multifamily portfolio in Tampa, Florida

Exclusively Listed By

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