6064 Gibson AveTampa, FL 33617

Property Details for 6064 Gibson Ave

Year built

2009

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

28.0622

Longitude

-82.3895

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