Palms at Mariner 10490 Chalmer St 20 Unit Apartment Building $3,975,000 ($198,750/Unit) Spring Hill, FL 34608

The Palms at Mariner is a well-maintained 20-unit, concrete block community built in 1996, offering a unique investment opportunity with spacious 2-bedroom, 2-bathroom floorplans, each providing 1,050 square feet of living space. Each unit has been fully renovated to include high-end finishes such as granite countertops, white flat/shaker cabinets, stainless steel appliances, vinyl plank and tile flooring, built-in electric fireplaces, and walk-in showers. The property also boasts an attractive amenity package, featuring a pool, lounge area, pergola deck, and on-site laundry facilities, creating an ideal living environment for tenants.
Located in a prime area, The Palms at Mariner offers immediate access to the Mariner Commons Shopping Center, home to popular retail stores and restaurants like Publix and Walgreens. The property is just 7 minutes from Weeki Wachee Springs State Park, a historic attraction, and within 15 minutes of several reputable healthcare facilities, including Tampa General Hospital Brooksville and HCA Florida Oak Hill Hospital. With rents currently averaging $1,583 and a pro forma rent potential of $1,775, the property presents a solid opportunity for a 15%+ increase in net operating income through rent growth. Tenants are individually metered for water, sewer, and electricity, offering further efficiency in management.