*** View OFFERING MEMORANDUM document for full details & financial projections at MultifamilyFirm.com (Doc is NOT on LoopNet) ***
The Multifamily Firm is pleased to present Sulfur Springs Apartments, an 8-unit apartment building in Tampa, Florida, offering a compelling value-add opportunity with a projected +10% CAP rate and +15% cash-on-cash return. Currently 25% occupied, the property consists of 2 renovated units, 3 partially updated units, and 3 requiring full renovation, allowing for strategic repositioning. Extensive structural and mechanical upgrades have been completed, including IntelliJack leveling systems, supplemental steel beams, floor joist sistering, replaced exterior sewer line, and drain lines. Interior improvements feature renovated hallways and stairs with new flooring and modern paint, while exterior enhancements include newly replaced stairs and new roofs. Located approximately 6-miles north of Downtown Tampa on a 0.12-acre corner lot, the property is in a NON-flood zone area (Zone X) and continues ample space for parking, as well as the potential to add community amenities.