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Milan Villas 12216 N 59th St 7 Unit Apartment Building $960,000 ($137,143/Unit) 7.69% Cap Rate Tampa, FL 33617
INVESTMENT HIGHLIGHTS
- Attractive unit mix of two-bedrooms and a three-bedroom
- Community amenities include gate, swimming pool and washer/dryer appliances
- Included in sale, 0.4-acre parcel directly behind the property with potential to build 8 additional townhomes
- All units individually parceled
- Four-units fully furnished and currently being operated as Airbnb
- Less than two miles to University of South Florida, AdventHealth Hospital Tampa, Haley VA Medical Center and Moffitt Cancer Center
EXECUTIVE SUMMARY
7-Unit townhome community in Tampa FL. Three miles to RITHM @ Uptown – This groundbreaking $1 billion project will be one of the largest innovation communities in the state, boasting 7-million square feet of development and will include residential, retail, entertainment, corporate offices, hospitality and more, including recently opened Sprouts Farmers Market. Located three miles from Busch Gardens Tampa Bay, a premier family destination undergoing a $40 million transformation with new attractions, enhanced dining and zoological upgrades.
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $960,000 | Apartment Style | Low-Rise |
| Price Per Unit | $137,143 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.02 AC |
| Cap Rate | 7.69% | Building Size | 7,252 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1984 |
| Property Subtype | Apartment | ||
| Zoning | RMC-20 - Residential Manufactured Home zoning district that allows for a maximum density of 20 units per acre | ||
| Price | $960,000 |
| Price Per Unit | $137,143 |
| Sale Type | Investment |
| Cap Rate | 7.69% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.02 AC |
| Building Size | 7,252 SF |
| No. Stories | 2 |
| Year Built | 1984 |
| Zoning | RMC-20 - Residential Manufactured Home zoning district that allows for a maximum density of 20 units per acre |
AMENITIES
SITE AMENITIES
- Pool
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 400 |
| 2+1.5 | 5 | - | 960 - 1,000 |
| 3+2 | 1 | - | 1,872 |
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Milan Villas | 12216 N 59th St
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