303 Gomez AveTampa, FL 33609

Property Details for 303 Gomez Ave

Lot size

0.67 AC

Property size (Sq ft)

11,932 SF

Property type

Apartment buildings

Description

This exceptional 22-unit apartment building, known as Willow Flats, presents a compelling investment opportunity in Tampa's highly sought-after Hyde Park neighborhood. Situated on two parcels totaling 0.67 acres, this stabilized property boasts 100% occupancy as of November 19, 2024, generating a strong Net Operating Income (NOI) of $218,058, with a pro-forma NOI of $280,084 and a pro-forma cap rate of 5.90%. The asking price is $4,750,000, translating to $215,909.09 per unit. Built in 2018, the two-story building features 11,932 square feet and underwent a significant $913,000 renovation in 2018 ($42,000 per unit), enhancing its appeal with modern amenities. Unit interiors showcase stainless steel appliances, granite countertops, solid wood cabinets, wood vinyl floors, subway tile backsplashes, and wine refrigerators. Upgrades also extend to updated closets, energy-efficient central air and heat, modern LED fixtures, ceiling fans, and upgraded bathrooms. Exterior improvements include updated landscaping and amenities such as a bocce ball court, community garden, dog park, fire pit lounge, and outdoor grill kitchen. Two units in an adjacent bungalow-style building offer private driveways and covered parking. The property's location on a mature tree-lined street complements its historical charm. Furthermore, the property's location offers significant potential for future development

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

27.9421

Longitude

-82.4915

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