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Multifamily

Mai Tai Apartments

291 Woodette Dr, Dunedin, FL 34698

Listing Price: $1,200,000

Cap Rate
5.30%
Number of Units
6
Price/Unit
$200,000
Price/Gross SF
$235.29
Gross SF
5,100

Investment Overview

6-unit multifamily property in Dunedin, FL (Tampa Bay MSA)

Investment Highlights

  • 100% two-bedroom floorplans with washer/dryer appliances and separately metered for all utilities
  • Proven value-add potential via removal of in-place loss-to-lease, resulting in 11.98% increase in gross rents
  • Additional upside available via 17.19% increase in average in-place rents via continued strategic renovations
  • TF (Tourist Facilities) zoning, creating ideal candidacy for short-term vacation rental
  • Appealing candidate for condominium conversion
  • Walking distance to Honeymoon Island State Park and Fred Marquis Pinellas Bike and Pedestrian Trail each with over one million annual visitors
  • 3.2 miles to bustling Downtown Dunedin core

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Listing Price: $1,200,000

Cap Rate
5.30%
Number of Units
6
Price/Unit
$200,000
Price/Gross SF
$235.29
Gross SF
5,100

Investment Highlights

  • 100% two-bedroom floorplans with washer/dryer appliances and separately metered for all utilities
  • Proven value-add potential via removal of in-place loss-to-lease, resulting in 11.98% increase in gross rents
  • Additional upside available via 17.19% increase in average in-place rents via continued strategic renovations
  • TF (Tourist Facilities) zoning, creating ideal candidacy for short-term vacation rental
  • Appealing candidate for condominium conversion
  • Walking distance to Honeymoon Island State Park and Fred Marquis Pinellas Bike and Pedestrian Trail each with over one million annual visitors
  • 3.2 miles to bustling Downtown Dunedin core

Investment Overview

6-unit multifamily property in Dunedin, FL (Tampa Bay MSA)

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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