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6064 Gibson AveTampa, FL 33617

68-unit gated community, prime Tampa location.

Overview

Added:
Dec 11, 2024
Days on market:
115
Town Park Villas presents a compelling investment opportunity in Tampa, Florida's thriving Uptown Innovation District. This 68-unit multifamily community, constructed in 2009, offers a unique blend of size and amenity-rich living. The property boasts spacious townhome-style units, averaging 1,493 square feet, ranging from 1,230 to 1,778 square feet. Each unit includes a private one or two-car garage, a private balcony, and washer/dryer connections. The unit mix is comprised of 71% three-bedroom and 29% four-bedroom units, catering to a diverse renter base. The property benefits from its location near the University of South Florida (with over 50,000 students and 16,210 faculty and staff), a robust medical district undergoing a $1.25 billion expansion, and the RITHM @ Uptown 100-acre mixed-use redevelopment. Current effective rents average $1.43 per square foot, presenting immediate upside potential. Further upside is projected through operational efficiencies and planned rent increases, with four-bedroom units anticipated to see a $350 increase by the end of the first year. Comparable properties in the area are achieving rents $275 higher than Town Park Villas' current average, highlighting the significant value-add potential. The property's superior unit amenities and desirable location within a rapidly growing area make it an attractive investment prospect. The address is 6064 Gibson Ave, Tampa, FL 33617, in Hillsborough County.

Highlights

  • 68-unit multifamily community with attached 1- and 2-car garages in each unit.
  • Townhome-style units averaging 1,493 sq ft, ranging from 1,230 to 1,778 sq ft.
  • Unit mix: 71% three-bedroom, 29% four-bedroom units.
  • Current effective rent: $1.41 per sq ft.
  • Significant upside potential through operational efficiencies and rent increases; projected $350 increase for four-bedroom units by year-end.
  • Comparable properties achieve rents $275 higher than current average.

Property Details for 6064 Gibson Ave

Property type
Apartment buildings
Year Built
2009
Units
68

Location Insight

City
Tampa
County
Hillsborough
State
Florida
Latitude
28.0622449
Longitude
-82.3894784
6064 Gibson Ave, Tampa, Florida

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6064 Gibson Ave
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