5902 122Nd AveTampa, FL 33617

Property Details for 5902 122Nd Ave

Year built

1986

Lot size

0.99 AC

Property size (Sq ft)

14,778 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This 18-unit apartment building, Chateau Village, presents a compelling value-add opportunity in Tampa's rapidly growing Uptown District. Situated on a 0.99-acre lot, the property comprises three two-story buildings totaling 14,778 square feet, constructed in 1986. All 18 units boast two bedrooms and one bathroom, each featuring 821 square feet of living space. Sixteen units include washer/dryer appliances, with connections in all units. Significant renovations have already been completed: three units have undergone full renovations (stainless steel appliances, plank flooring, shaker cabinets, granite countertops), and twelve units have received partial renovations. The property's location offers substantial upside potential, with opportunities to increase average rents by $100-$250 per unit through further renovations. The large lot size allows for the addition of amenities and potentially four more units. The Uptown District's robust economic growth, fueled by major employers like Amazon, Moffitt Cancer Center, and the University of South Florida, creates a strong rental market. Additional revenue streams could be generated through a utility reimbursement program and targeted marketing to nearby USF students. The majority of the air conditioning units have been recently replaced. This property offers a unique blend of immediate income and significant long-term growth potential.

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

28.0583

Longitude

-82.3904

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