Park West Courtyard Apartments is offered at Market Bid. A new buyer has the opportunity to obtain critical mass within Tampa's Urban Core with a fully renovated asset with fantastic frontage on Swann Avenue. This deal has significant rental upside, at the tune of $200+ per unit on average, without the need to infuse more capital. Financing available through Freddie Mac's SBL program, seller financing or conventional lenders. This property can also be bought as a portfolio with The Bonaventure and Estrella Apartments. Contact listing broker for specific quotes and details.
Value-add opportunity by increasing average rents $200+
Park West Courtyard Apartments is located in Tampa, Florida, which is in Hillsborough County. The Property is located in the highly desirable Old Hyde Park sub-market. South Howard Avenue is one of the most desirable streets in the Hyde Park sub-market attracting a high volume of foot traffic. The Property is within walking distance to the over 40 restaurants and bars that line South Howard Avenue including the internationally renowned Bern's Steakhouse. Old Hyde Park Village, comprised of 51 restaurants and shops, and South Howard Avenue, are both within a five minute drive of Park West Courtyard Apartments. These two areas combine to provide residents with ample shopping and leisure activities which include a Publix GreenWise, Winn-Dixie, a movie theater, a multitude of boutique and national retail stores as well as multiple local restaurants. Old Hyde Park Village also provides residents with a monthly fresh market held on the first Sunday of every month where over 100 vendors showcase their local and regional farm and agricultural products, prepared foods and local hand-made crafts. Also, the beautiful Bayshore Boulevard and Hillsborough Bay are located two-miles southwest of the Property. Locals utilize the scenic 4.5 mile continuous sidewalk that runs alongside Bayshore Boulevard for exercise activities and leisure walks.
The Property consists of (1), two-story building comprised of (7) one-bedroom/one-bathroom units with 550 rentable square feet and (23) two-bedroom/one-bathroom units with 767 rentable square feet. The building sit on a 0.92 +/- acres of land and all of the units have central heat and air-conditioning. Resident pays water, sewer, and trash. Water and sewer are based on a flat fee of $25/month and $50/month for one-bedroom and two-bedroom units, respectively. Amenities include an on-site laundry facility, tranquil fountain in the courtyard, picnic area, and private gated access. This Property has been recently renovated. Renovations include hardwood flooring, porcelain tile, new kitchen cabinets, stainless steel appliances in select units, corian & granite countertops in kitchen and bathrooms, crown moulding, lush landscaping and a new reclaimed water irrigation system. This Property also has a transferrable termite warranty.
