For Sale
$9,250,000

1909 137Th AveTampa, FL 33613

73-unit apartment complex, high ROI

Overview

Added:
Jan 28
Days on market:
66
This exceptional investment opportunity presents a 73-unit multifamily portfolio situated on 5.09 acres in Tampa, Florida. Comprising 32 buildings, this property boasts a substantial 48,712 square feet of net rentable space. Currently generating a Net Operating Income (NOI) of $552,039, representing a 5.97% capitalization rate, this portfolio offers significant upside potential. Pro-forma projections indicate a potential NOI of $814,431, resulting in an 8.23% capitalization rate, achievable through planned interior and common area improvements. The property benefits from an assumable mortgage with a 4.75% interest rate. Located just two miles from the burgeoning RITHM @ Uptown development—a $1 billion innovation community—and within close proximity to the University of South Florida, AdventHealth Hospital Tampa, Haley VA Medical Center, and Moffitt Cancer Center, this portfolio enjoys an enviable location. Convenient access to I-275 provides easy commutes to Downtown Tampa, the Westshore Business District, St. Petersburg, and Clearwater. The asking price for this remarkable investment is $9,250,000. The property's address is 1909 E 137th Ave, Tampa, FL 33613, and its APN numbers are U-07-28-19-1GN-D00000-00004.1, U-07-28-19-1GN-D00000-00004.2, U-07-28-19-1GN-D00000-00004.2, U-07-28-19-1GN-D00000-00004.7, U-06-28-19-1GH-000006-00005.0, U-06-28-19-1GH-000006-00007.0, U-06-28-19-1GH-000007-00002.0, U-06-28-19-1GH-000007-00004.0 U-06-28-19-1GH-000007-00007.0, U-06-28-19-1GH-000007-00007.A, U-06-28-19-1GH-000007-00007.D, U-06-28-19-1GH-000007-00007.C, U-06-28-19-1GJ-000005-00004.0. Detailed financial information is available upon request.

Highlights

  • $9,250,000 asking price for a 73-unit multifamily portfolio.
  • 48,712 square feet of net rentable area across 32 buildings.
  • Current NOI of $552,039, with a pro-forma NOI of $814,431.
  • 5.97% current cap rate, and an 8.23% pro-forma cap rate.
  • Situated on a 5.09-acre lot in Tampa, FL.
  • Assumable mortgage at 4.75% interest.

Property Details for 1909 137Th Ave

Property type
Apartment buildings
Buildings
32
Lot Size (sq. ft)
221,720 SF
Units
73

Location Insight

City
Tampa
County
Hillsborough
State
Florida
Latitude
28.07130465
Longitude
-82.43815056
1909 137Th Ave, Tampa, Florida

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1909 137Th Ave
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