11431 Cockle Dr
Port Richey, FL 34668

CBRE, as exclusive marketing advisor, is pleased to present the opportunity to acquire Bay Point apartments, a 112-unit multifamily community. Completed in three phases (1985/1994/1998), Bay Point features a mixture of one and two bedroom apartments in a serene wooded atmosphere. Significant Revenue Enhancement Potential - Bay Point represents an opportunity to re-position from an income & rent-restricted affordable housing property, owned by a non-profit corporation, to a market rate property. The owner (Florida Housing Affordability, Inc.), has operated Bay Point under the Federal Home Loan Bank of Atlanta' s Affordable Housing Program since 1992. The owner was awarded a substantial grant from FHLB of Atlanta for that purpose. Bay point is located in Port Richey, Florida in Pasco County. The Property is directly off highway US-19 which sees over 60,000 cars per day and serves as a major north-south arterial for the region and provides easy access to Clearwater and St. Petersburg to the south. In addition to local employers, Bay Point enjoys nearby access to the Suncoast Parkway connecting the local residents to some of the largest employment centers throughout the greater Tampa Bay region including the Westshore business district and Tampa International Airport.