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Uptown Palms- 72 Unit Value Add Opportunity 13009 Kain Palms Ct 72 Unit Apartment Building $17,000,000 ($236,111/Unit) 4.80% Cap Rate Tampa, FL 33612
Investment Highlights
- 80% of the units have been completely rehabbed
- Just off the 41 Corridor easy access to the 275 Freeway
- 1 mile from the University of South Florida (USF) Tampa campus
- Excellent Student Housing or University Staff Housing Candidate.
Executive Summary
ONE Sotheby's is pleased to present a 72-unit multifamily housing complex located in the Uptown Tampa Innovation District, offering a mix of 12 one-bedroom, 12 two-bedroom, and 48 three-bedroom units. This property is a stabilized institutional-quality asset with strong occupancy offering steady in-place cash flow. The property underwent $10,000 in renovations per unit, including upgrading the classic units, repainting the exterior of the building, and more. The property is less than 1 mile from the University of South Florida (USF) Tampa campus. Excellent Student Housing or University Staff Housing Candidate.
Further upside can be achieved by upgrading the existing classical units. Located adjacent to multiple large and notable employers, including Advent Health Tampa, Florida State University, and the James A. Haley VA Hospital, Uptown Palms is strategically positioned to attract students and medical professionals in the area. This, coupled with an above-average positive absorption and almost no new deliveries in the past several quarters in the North Tampa market, makes Uptown Palms an ideal asset.
Excellent Mix of renovated units: 12 one-bed/one-bath, 12 two-bed/one-and-a-half-bath, and 48 large three-bed/two-bath units.
Further upside can be achieved by upgrading the existing classical units. Located adjacent to multiple large and notable employers, including Advent Health Tampa, Florida State University, and the James A. Haley VA Hospital, Uptown Palms is strategically positioned to attract students and medical professionals in the area. This, coupled with an above-average positive absorption and almost no new deliveries in the past several quarters in the North Tampa market, makes Uptown Palms an ideal asset.
Excellent Mix of renovated units: 12 one-bed/one-bath, 12 two-bed/one-and-a-half-bath, and 48 large three-bed/two-bath units.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Wi-Fi
- Den
- Dining Room
- Lawn
- Loft Layout
Site Amenities
- 24 Hour Access
- Fitness Center
- Laundry Facilities
- Playground
- Video Patrol
- Pet Play Area
- Bicycle Storage
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,232 | 550 |
| 2+1.5 | 12 | $1,447 | 1,150 |
| 3+2 | 48 | $1,788 | 1,250 |
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
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Uptown Palms- 72 Unit Value Add Opportunity | 13009 Kain Palms Ct
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