4150 Portillo Rd - Apartments FOR SALE


Spring Hill, FL 34608
$6,300,000 USD
352-346-1528
4150 Portillo Rd, Spring Hill, FL for Sale
$6,300,000 USD
Apartments - FOR SALE
1/14
null | 5.43% Cap Rate

4150 Portillo Rd
Spring Hill, FL 34608


HIGHLIGHTS

  • Rents are well below market, with Pro Forma Cap Rate of 7.66 percent
  • Lush landscaping with a pretty flower garden
  • Spacious floorplans with nice views of the pool area
  • Beautiful architecture, Courtyard Style

OVERVIEW

Port Apartments, Spring Hill, has 40, 2 bedrooms, 2 bathroom apts. Family-owned and operated for 20 years, with 99% occupancy in 2024. Well maintained. Built in 2001, with 6, two-story buildings (including a laundry room), on 2.81 acres, high elevation. Courtyard-style complex with pool, picnic area, and beautiful flower garden. Across the street from Rotary Centennial Dog Park. CBS construction, with concrete 2nd floor, and concrete firewalls between units, all metal interior stud walls. New Roofs in Jan 2024. Twenty-three (23) air conditioners were replaced recently. The laundry room has six Front Load washers, and six dryers (2019) Speed Queen Commercial Machines. Upgrades include porcelain tile, luxury vinyl plank floors, and new appliances. The property has a history of many long-term residents, some 15 to 20 years. No losses during COVID 19 all residents paid their rent. Port Apartments is walking distance to 2 shopping centers with Publix & Winn Dixie stores. Close to entertainment, health care, restaurants, fitness center, bus lines, dog park, and houses of worship. Close to schools (including an International Baccalaureate program as well as a Magnet program). Within minutes to State Road 589, US 19, 40 minutes from Tampa.

FOR SALE DETAILS

PRICE

$6,300,000 USD

PRICE/SF

$152 USD /SF

# OF UNITS

40

PRICE/UNIT

$157,500

CAP RATE

5.43%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Port Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2001

PARKING SPACES

63

LAND DETAILS

LAND ACRES

2.78 AC

LAND SF

121,097 SF

ZONING

Multifamily 10+

APN/PARCEL ID

R32-323-17-5170-1132-0150

ASK ABOUT THIS PROPERTY

Teresa GilbertPort ApartmentsMore Info
352-346-1528

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Teresa GilbertPort ApartmentsMore Info
352-346-1528

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.