11713 N 15TH STREET

Description

Under contract-accepting backup offers. Nestled within a secure gated subdivision, this offering comprises 12 well maintained mix of 2 and 3 bedrooms apartments, enveloped by a fully fenced perimeter. Strategically situated in very close proximity to both a bus stop and prime locations in Tampa with lifestyle in this vibrant locale. Seller spent $300K+ in the recent renovations:

1. Brand new roof installed in 2024.
2. Two designated parking spaces allocated for every tenant.
3. Visitor parking amenities have been added.
4. The majority of air conditioning units have been recently upgraded, with a significant portion just replaced.
5. Majority of water heaters have been recently installed or replaced.
6. Entire property has been refreshed with a new coat of paint.
7. Security cameras installed.

Seller has individual water meters installed on each apartment, and bills to tenants. All utility expenses are borne by tenants. Please refer to the attached document for Profit and Loss statements, pro forma, and capitalization rates.

Current Cap Rate 7.4%
Pro forma Cap Rate 9.3%

*The property can be managed by the same management team for a 5% fee, should any buyer require management services.
*Hard money lending and seller financing options are available with a 40% down payment.