Hyde Park - Beach Flats (23 Units) 4 Multifamily Properties Offered at $7,250,000 in Tampa, FL

Located in the heart of prime Hyde Park, Tampa’s most sought-after submarket, Beach Flats is a collection of four boutique apartment communities totaling 23 units and including studio, one, two, and three-bedroom floorplans. The communities are operated as one combined property and share common amenities such as landscaped tenant courtyards, outdoor grill areas, fire pit lounges, three laundry facilities, and permit parking. As part of the property restoration, custom ironwork, touchless access gates, and luxury signage were added throughout the property further enhancing the community to reflect the surrounding luxury neighborhood.
Beach Flats offers tenants the unique opportunity to live in a restored Colonial-style apartment with access to picturesque Bayshore Boulevard and Downton Tampa, both only two blocks away. Beach Flats is 100% occupied as of March 2025 and has maintained historically strong occupancy with consistent renter demand.
Upon acquisition, the current owner undertook a $1.4M ($61,000/unit) renovation program that completely repositioned the property. This extensive work will allow a new owner the opportunity to drive rents with minimal additional capital expenditure. Unit interiors include stainless steel appliances, sleek countertops, custom tile, solid wood cabinets, vinyl flooring, and wine refrigerators in select units.
In-Place rents currently average $1,826/month ($2.57/SF) versus competitive rents of over $2,200/month for comparable properties.