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7919 Lakeshore Dr 8 Unit Apartment Building Offered at $1,600,000 at a 6.76% Cap Rate Tampa, FL 33604
Investment Highlights
- Nearly $300,000 invested in capital improvements with minimal deferred maintenance
- Concrete block construction offers lower maintenance costs and reduced ownership risk
- Situated in Flood Zone X with no lender-required flood insurance
- Renovations include six fully gut-renovated units and two partially renovated units
- Strong historical tenant demand with minimal vacancy
Executive Summary
Stabilized 8-unit multifamily community located in North Tampa submarket with a proven history of strong occupancy. Recent exterior improvements include seven new HVAC systems, fresh exterior paint on both buildings, a new concrete driveway, new patios and perimeter fencing and restored second-floor staircases. Additional revenue upside through implementation of the Housing Choice Voucher (Section 8) program, with two-bedroom payment standards up to approximately $1,910 per month for the 33604 ZIP code. Ideally situated less than 5 minutes from Lowry Park, ZooTampa at Lowry Park, and the Hillsborough River, providing residents with convenient access to recreation and outdoor amenities. Approximately 10 minutes from Downtown Tampa, the Tampa Riverwalk, Armature Works, and Tampa Heights, placing residents within easy reach of the region’s largest employment, dining and entertainment centers. Located near major employment and educational hubs including AdventHealth Tampa, Tampa General Hospital, USF, Moffitt Cancer Center, and Busch Gardens, supporting long-term rental demand from healthcare professionals, students and the area’s growing workforce.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Pro Forma - 2027) 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 - 2027) 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
| Price | $1,600,000 | Property Type | Multifamily |
| Price Per Unit | $200,000 | Building Size | 6,480 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 6.76% | No. Stories | 2 |
| No. Units | 8 | Year Built | 1985 |
| Price | $1,600,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 6.76% |
| No. Units | 8 |
| Property Type | Multifamily |
| Building Size | 6,480 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1985 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | 810 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | A-28-28-19-46B-000042-00007.0 | Improvements Assessment | $330,450 (2025) |
| Land Assessment | $51,308 (2025) | Total Assessment | $381,758 (2025) |
Property Taxes
Parcel Number
A-28-28-19-46B-000042-00007.0
Land Assessment
$51,308 (2025)
Improvements Assessment
$330,450 (2025)
Total Assessment
$381,758 (2025)
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7919 Lakeshore Dr
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