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Urban Heights Apartments 5113 N Nebraska Ave 14 Unit Apartment Building $2,200,000 ($157,143/Unit) Tampa, FL 33603
INVESTMENT HIGHLIGHTS
- Renovated 14-Unit Multifamily Property Situated in the Highly Desirable Seminole Heights Neighborhood
- Solid 1985 Concrete Block Construction with Durable Pitched Roofs
- Exterior Enhancements Include Fresh Paint & a Newly Installed On-Site Laundry Facility
- Value-Add Opportunity with Projected Annual Rent Growth of $11,250+
- Upgraded Interiors Feature Vinyl Plank/Tile Flooring, Granite Counters, Stainless Steel Appliances with Dishwashers, and Modernized Cabinetry
- Situated in the Heart of One of Tampa’s Most Desirable and Rapidly Evolving Neighborhoods
EXECUTIVE SUMMARY
Urban Heights is a renovated 14-unit multifamily property located in the heart of the highly desirable Seminole Heights neighborhood. Offering a 6.24% takeover cap rate reflecting adjusted taxes and insurance, this solid 1985 concrete block construction features durable pitched roofs and modernized interiors. Each unit boasts vinyl plank and tile flooring, granite countertops, stainless steel appliances with dishwashers, and updated cabinetry, while exterior enhancements include fresh paint and a newly installed on-site laundry facility. With a projected annual rent growth of $11,250+, this property presents a compelling value-add opportunity for investors seeking both stability and upside.
Nestled in historic and vibrant Seminole Heights, Urban Heights provides residents easy access to the area’s artsy local businesses, early-20th-century bungalows, and a walkable, trendy corridor of dining, coffee shops, breweries, and boutique retail along Florida Avenue, Nebraska Avenue, and nearby Hillsborough Avenue. The property’s prime location is just 0.2 miles from I-275, offering quick commutes to Downtown Tampa, the Westshore Business District, and regional transit routes. Residents also enjoy convenient access to grocery and retail anchors, including Publix and a Walmart Supercenter less than 2 miles away, making Urban Heights the perfect blend of modern comfort, historic charm, and unmatched convenience in one of Tampa’s most sought-after neighborhoods.
Nestled in historic and vibrant Seminole Heights, Urban Heights provides residents easy access to the area’s artsy local businesses, early-20th-century bungalows, and a walkable, trendy corridor of dining, coffee shops, breweries, and boutique retail along Florida Avenue, Nebraska Avenue, and nearby Hillsborough Avenue. The property’s prime location is just 0.2 miles from I-275, offering quick commutes to Downtown Tampa, the Westshore Business District, and regional transit routes. Residents also enjoy convenient access to grocery and retail anchors, including Publix and a Walmart Supercenter less than 2 miles away, making Urban Heights the perfect blend of modern comfort, historic charm, and unmatched convenience in one of Tampa’s most sought-after neighborhoods.
PROPERTY FACTS
| Price | $2,200,000 | Building Class | C |
| Price Per Unit | $157,143 | Lot Size | 0.35 AC |
| Sale Type | Investment | Building Size | 7,640 SF |
| No. Units | 14 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1985 |
| Apartment Style | Low-Rise | Parking Ratio | 1.83/1,000 SF |
| Zoning | CG, Tampa | ||
| Price | $2,200,000 |
| Price Per Unit | $157,143 |
| Sale Type | Investment |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 7,640 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 1.83/1,000 SF |
| Zoning | CG, Tampa |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | 350 |
| 1+1 | 12 | - | 575 - 605 |
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Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | A-06-29-19-4L1-000002-00002.0 | Improvements Assessment | $969,205 |
| Land Assessment | $227,595 | Total Assessment | $1,196,800 |
PROPERTY TAXES
Parcel Number
A-06-29-19-4L1-000002-00002.0
Land Assessment
$227,595
Improvements Assessment
$969,205
Total Assessment
$1,196,800
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Urban Heights Apartments | 5113 N Nebraska Ave
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