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Westland Apartments 505 S Westland Ave

4 Unit Apartment Building $1,042,063 ($260,516/Unit) 5.70% Cap Rate Tampa, FL 33606

Investment Highlights

  • Owner Financing to Qualified Buyers
  • Close to everything!
  • Excellent location

Executive Summary

Located in one of Tampa’s most desirable neighborhoods, 505 Westland Ave Tampa Fl is 4-unit apartment quadraplex that seamlessly combines contemporary comfort with the warmth and character of a classic Florida home.
The property consists of four 2 Bed / 1 Bath units that are 100% occupied with a waiting list of tenants through the current management company. This exceptional property offers a unique opportunity for investors to acquire a property in a vibrant community known for its convenience, charm, and access to a thriving metropolitan area.
Situated in the heart of Tampa, this property provides unparalleled convenience. It’s just minutes from downtown Tampa, major highways such as I-275 and the Selmon Expressway, and Tampa International Airport, ensuring effortless connectivity. Residents will enjoy the proximity to Hyde Park Village, the Tampa Riverwalk, and world-class dining, shopping, and entertainment. Outdoor enthusiasts will appreciate nearby parks, including Bayshore Boulevard, known for its stunning waterfront views and walking paths.
Interior Highlights:
High-End Finishes: Features include premium flooring, modern lighting fixtures, and designer cabinetry, delivering a sophisticated and polished aesthetic.
Comfortable Bedrooms: The property boasts generously sized bedrooms with ample closet space, providing private retreats for all residents.
Updated bathrooms with elegant tiling, modern fixtures, and spa-inspired features elevate daily routines.
Neighborhood Appeal:
This property is in a family-friendly community with access to top-rated schools and healthcare facilities. The neighborhood also offers diverse cultural and recreational activities, from museums and art galleries to nearby beaches and water sports.
Investment Potential:
Tampa’s booming real estate market makes 505 Westland Ave an attractive option for investors. The property’s location, combined with its modern amenities, positions it as a high-demand rental or resale opportunity.
Whether you are searching for a forever home or a valuable addition to your portfolio, 505 Westland Ave delivers the perfect blend of location, lifestyle, and luxury. This is a rare opportunity to secure a property that meets the demands of modern living in one of Tampa’s most sought-after areas.
Owner Financing:
The seller is offering 5 year owner financing to qualified buyers with personal guarantee on the following terms: 30% down payment at 6.75% Interest only for 24 months then converting to a 30 year amortization for the remaining years 3 to 5.

Data Room Click Here to Access

Property Facts Under Contract

Price $1,042,063
Price Per Unit $260,516
Sale Type Investment
Cap Rate 5.70%
No. Units 4
Property Type Multifamily
Property Subtype Apartment
Lot Size 0.14 AC
Building Size 3,242 SF
Average Occupancy 100%
No. Stories 1
Year Built/Renovated 1986/2022
Parking Ratio 2.47/1,000 SF

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 4 $1,850 775
Walk Score ®
Walker's Paradise (91)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
A-23-29-18-4SB-000011-00003.0
Land Assessment
$355,622
Improvements Assessment
$475,231
Total Assessment
$830,853

zoning

Zoning Code Multifamily (Apartment / Multifamily)
Multifamily (Apartment / Multifamily)
  • Listing ID: 34005753

  • Date on Market: 11/26/2024

  • Last Updated:

  • Address: 505 S Westland Ave, Tampa, FL 33606

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