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Lois Landing Apartment Community. 115 S Lois Ave 56 Unit Apartment Building $13,000,000 ($232,143/Unit) 4.85% Cap Rate Tampa, FL 33609
Investment Highlights
- Prime location in a highly desirable Tampa submarket
- Amenity-rich site with pool, spa, fitness center, and dog park
- Ample on-site parking for residents and guests
- Fully leased 56-unit multifamily asset with strong cash flow
- High visibility LED pylon signage and rear alley access
Executive Summary
Current gross rent, full rented, before expenses is = $99,250.00.
$225K cash down at the signing of the PSA.
$25K non-refundable after 10 days of DD.
$200K non-refundable after the total of 30 days DD.
I will not consider any OWC or creative financing.
Buyer splits 50/50 closing fees.
Close 30 days after DD. Or sooner.
The tenants pay some of their own utilities.
56 units total. Mix: 32 one/one’s and 24 two/one’s.
90+ parking spaces.
Heated swimming pool and spa. Fire pits, Amazon boxes, Fitness center. Dog park with dog bath.
Automobile vacuum and compressed air station.
This place is ideal for AirBnB rentals, corporate leasing, or modified for independent living.
In the past the apartments were condominiums and converted.
Certified lead paint.
$225K cash down at the signing of the PSA.
$25K non-refundable after 10 days of DD.
$200K non-refundable after the total of 30 days DD.
I will not consider any OWC or creative financing.
Buyer splits 50/50 closing fees.
Close 30 days after DD. Or sooner.
The tenants pay some of their own utilities.
56 units total. Mix: 32 one/one’s and 24 two/one’s.
90+ parking spaces.
Heated swimming pool and spa. Fire pits, Amazon boxes, Fitness center. Dog park with dog bath.
Automobile vacuum and compressed air station.
This place is ideal for AirBnB rentals, corporate leasing, or modified for independent living.
In the past the apartments were condominiums and converted.
Certified lead paint.
Property Facts
| Price | $13,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $232,143 | Building Class | B |
| Sale Type | Investment | Lot Size | 2.02 AC |
| Cap Rate | 4.85% | Building Size | 46,428 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 91% |
| No. Units | 56 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.92/1,000 SF |
| Zoning | PD - Multi-family | ||
| Price | $13,000,000 |
| Price Per Unit | $232,143 |
| Sale Type | Investment |
| Cap Rate | 4.85% |
| Sale Condition | 1031 Exchange |
| No. Units | 56 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.02 AC |
| Building Size | 46,428 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.92/1,000 SF |
| Zoning | PD - Multi-family |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- Ice Maker
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
- Yard
- Grill
- Lawn
- Patio
- Porch
- Recreation Room
- Smoke Free
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Clubhouse
- Courtyard
- Fenced Lot
- Fitness Center
- Laundry Facilities
- Picnic Area
- Pool
- Spa
- Gated
- Cabana
- Grill
- Pet Play Area
- Smoke Free
- Maintenance on site
- Pet Washing Station
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 32 | $1,700 | 720 |
| 2+1 | 24 | $2,150 | 960 - 1,020 |
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Walk Score®
Very Walkable (82)
Property Taxes
| Parcel Number | A-21-29-18-3M3-000000-00009.6 | Improvements Assessment | $9,053,000 |
| Land Assessment | $100 | Total Assessment | $9,053,100 |
Property Taxes
Parcel Number
A-21-29-18-3M3-000000-00009.6
Land Assessment
$100
Improvements Assessment
$9,053,000
Total Assessment
$9,053,100
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Presented by
Roy Moyer
Lois Landing Apartment Community. | 115 S Lois Ave
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