Multifamily

Hampton Terrace

5416 N 9th St, Tampa, FL 33604

Listing Price: $1,975,000

Cap Rate
6.19%
Number of Units
16
Occupancy
96.00%
Price/Unit
$123,438
Price/Gross SF
$165.24
Gross SF
11,952

Investment Overview

Hampton Terrace is a conventional 16 unit apartment community located in the Seminole Heights District, Tampa’s original suburb just 3 miles north of downtown and 4 miles east of the Westshore Business District. The property consists of two, two story buildings made of concrete block construction consisting of 8 one bedroom/one bathroom units and 8 two bedroom/one bathroom units averaging 747 square feet. Most units have been renovated with vinyl plank flooring, interior paint, updated cabinets, and new appliances. Average rents of $958 per month or $1.28 per square foot allow an incoming owner to further maximize rents by drafting behind the newly constructed communities nearby that are averaging $2.00 per square foot. This is one of the rare opportunities to own one of the few concrete block, turn key apartment communities in Seminole Heights, a highly desirable rental market that has historically achieved high occupancy levels and very little resident turnover in comparison to some of the more urban rental markets. Hampton Terrace lies near the intersection of Hillsborough and US 41 in the core of the Seminole Heights neighborhood. Residents enjoy living in direct proximity to some of the top restaurants and craft breweries in the region including award winning establishments such as The Refinery, Rooster & the Till and Ichicoro Ramen as well as a short commute to Tampa’s largest employment centers, universities, hospitals, concert and sporting venues, shopping, nightlife, and entertainment. Hampton Terrace is conveniently located within 4 miles of 22 million square feet of office space allowing tenants a short and easy commute to and from the office. Major points of interest in close proximity to the property include I 275 (0.20 miles), I 4 (2.20 miles), Downtown Tampa (3 miles), University of South Florida (4.29 miles) and Tampa International Airport (4.75 miles).

Investment Highlights

  • Turn Key Asset
  • Concrete Block Construction
  • Central HVAC
  • Newly Renovated On Site Laundry Facility and New Fencing
  • Ample Off Street Parking For Tenants

Exclusively Listed By

Listing Price: $1,975,000

Cap Rate
6.19%
Number of Units
16
Occupancy
96.00%
Price/Unit
$123,438
Price/Gross SF
$165.24
Gross SF
11,952

Investment Highlights

  • Turn Key Asset
  • Concrete Block Construction
  • Central HVAC
  • Newly Renovated On Site Laundry Facility and New Fencing
  • Ample Off Street Parking For Tenants

Investment Overview

Hampton Terrace is a conventional 16 unit apartment community located in the Seminole Heights District, Tampa’s original suburb just 3 miles north of downtown and 4 miles east of the Westshore Business District. The property consists of two, two story buildings made of concrete block construction consisting of 8 one bedroom/one bathroom units and 8 two bedroom/one bathroom units averaging 747 square feet. Most units have been renovated with vinyl plank flooring, interior paint, updated cabinets, and new appliances. Average rents of $958 per month or $1.28 per square foot allow an incoming owner to further maximize rents by drafting behind the newly constructed communities nearby that are averaging $2.00 per square foot. This is one of the rare opportunities to own one of the few concrete block, turn key apartment communities in Seminole Heights, a highly desirable rental market that has historically achieved high occupancy levels and very little resident turnover in comparison to some of the more urban rental markets. Hampton Terrace lies near the intersection of Hillsborough and US 41 in the core of the Seminole Heights neighborhood. Residents enjoy living in direct proximity to some of the top restaurants and craft breweries in the region including award winning establishments such as The Refinery, Rooster & the Till and Ichicoro Ramen as well as a short commute to Tampa’s largest employment centers, universities, hospitals, concert and sporting venues, shopping, nightlife, and entertainment. Hampton Terrace is conveniently located within 4 miles of 22 million square feet of office space allowing tenants a short and easy commute to and from the office. Major points of interest in close proximity to the property include I 275 (0.20 miles), I 4 (2.20 miles), Downtown Tampa (3 miles), University of South Florida (4.29 miles) and Tampa International Airport (4.75 miles).

Exclusively Listed By

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