Annie Apartments
36 Unit Apartment Building | $5,735,000 ($159,306/Unit) | Tampa, FL 33612
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,735,000
- Property Type
-
Multifamily
- Square Feet
- 29,416 SF
Listing Contacts
Mark Savarese
Verified Profile
Avery Jordan
Verified Profile
Cary Brown
Verified Profile
Daniel Pinero
Verified Profile
- Property Info
Property Overview
Annie Apartments is a prime 36-unit community in the heart of Tampa, Florida. This property features robust 1980s two-story concrete block construction, ensuring durability and low maintenance. Each unit boasts two bedrooms with washer and dryer connections. All interiors recently upgraded with modern finishes, including sleek design of new shaker-style cabinets, vinyl plank flooring, stainless steel appliances, and contemporary fixtures throughout. Residents benefit from comfort and efficiency, with central HVAC systems in place and individual metering for water and sewer.
The property presents excellent value-add potential, with possibilities for enhancing curb appeal, updating exterior paint, landscaping, lighting, and establishing a distinctive brand. Strategically located just 10 minutes north of downtown Tampa, it is ideally positioned near major employers and attractions, including the University of South Florida and Busch Gardens. Situated in the vibrant Uptown neighborhood, the property is part of the dynamic urban sprawl driven by the $1 billion Rithm at Uptown redevelopment project, which will bring multifamily, student housing, retail, hospitality, and educational spaces to the area. Annie Apartments represents a strategic investment opportunity with substantial upside potential in a high-demand area.
The property presents excellent value-add potential, with possibilities for enhancing curb appeal, updating exterior paint, landscaping, lighting, and establishing a distinctive brand. Strategically located just 10 minutes north of downtown Tampa, it is ideally positioned near major employers and attractions, including the University of South Florida and Busch Gardens. Situated in the vibrant Uptown neighborhood, the property is part of the dynamic urban sprawl driven by the $1 billion Rithm at Uptown redevelopment project, which will bring multifamily, student housing, retail, hospitality, and educational spaces to the area. Annie Apartments represents a strategic investment opportunity with substantial upside potential in a high-demand area.
Property Details
- Class
- B
- Year Built/Renovated
- 1983/2022
- Stories
- 2
- Lot Size (sq. ft)
- 43,996 SF
- Units
- 36
Highlights
- 36-Unit Multifamily Community Located in Tampa, FL // 1980s Two-Story Concrete Block Construction
- All Two Bedroom Floor Plans with Washer & Dryer Connections in all Units; Individually Metered for Water & Sewer; Equipped with Central HVAC
- Interiors Upgraded in the Past 3yrs with Modern Finishes Including: New Shaker Style Cabinets, Vinyl Plank Flooring, SS Appliances & Modern Fixtures
- Strong in Place Cash Flow with 6.5% Takeover Cap Rate, Including Adjusted Taxes and Insurance
- Excellent Value Add Potential Through Curb Appeal, Improvements to Exterior Paint Scheme, Landscaping, Lighting Package, and Branding
- Seller Entertaining Offers for Adjacent Single-Family (3 Bed / 2 Bath) Which Could be Included as a Manager's Unit or Rented for $2,100+ Per Month
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