13009 Kain Palms Ct - Dormitory FOR SALE


Tampa, FL 33612- University Square
$17,000,000 USD
786-453-3171
13009 Kain Palms Ct, Tampa, FL for Sale
$17,000,000 USD
Dormitory - FOR SALE
1/38
null | 4.8% Cap Rate

13009 Kain Palms Ct
Tampa, FL 33612
University Square


HIGHLIGHTS

  • 80% of the units have been completely rehabbed
  • 1 mile from the University of South Florida (USF) Tampa campus
  • Just off the 41 Corridor easy access to the 275 Freeway
  • Excellent Student Housing or University Staff Housing Candidate.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$17,000,000 USD

PRICE/SF

$211 USD /SF

# OF UNITS

72

PRICE/UNIT

$236,111

CAP RATE

4.8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Uptown Palms- 72 Unit Value Add Opportunity

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Dormitory

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1974

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,363 SF

ZONING

RMC-20

APN/PARCEL ID

035824-0100

ASK ABOUT THIS PROPERTY

Manny Chamizo IIIONE Sotheby's International RealtyMore Info
786-453-3171

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Manny Chamizo IIIONE Sotheby's International RealtyMore Info
786-453-3171

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.