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.