609 Golden Raintree Pl - Apartments FOR SALE


Brandon, FL 33510
$6,800,000 USD
813-221-2079
609 Golden Raintree Pl, Brandon, FL for Sale
$6,800,000 USD
Apartments - FOR SALE
1/20
null | 6.4% Cap Rate

609 Golden Raintree Pl
Brandon, FL 33510


HIGHLIGHTS

  • Large, open floor plans with 92 percent two-bedrooms/two-baths or larger
  • Full amenity package including two swimming pools, clubhouse, fitness center, and multiple resident gathering areas
  • Immediate upside potential in rents ($258 per unit per month), and ability to increase the NOI by 35%+ over the first two years
  • Multiple exit strategy options
  • Offering below replacement cost with immediate equity at purchase; recent individual unit sales as high as $190,000
  • Central Hillsborough County location in proximity to major demand drivers, transportation corridors, and an abundance of employment

OVERVIEW

The Hamptons at Brandon is a 1980s constructed garden-style community. The offering includes 51 of 204 units which have been operating successfully as rentals for the past fifteen years. Units are spread throughout the community which consists of twenty-three, two-story multifamily buildings and two common area buildings which house the office, a clubhouse, laundry facilities and the main swimming pool. The offering is a mix of four, one-bedroom/one-bath units, forty two-bedroom/two-bath units and seven, three-bedroom/two-bath units. Units feature large floor plans, private patios, fully equipped kitchens with dishwashers and washer/dryer connections in select units. Community amenities include two swimming pools, a clubhouse, two laundry facilities, lighted, multi-purpose recreation court, fitness center, sand volleyball court, toddler playground and BBQ grilling areas. The Hamptons is located in Brandon which is a thriving suburb of Tampa just seven miles from Downtown Tampa. The Greater Brandon Area is one of the fastest growing suburban communities in the Tampa Bay MSA. The Hamptons has an employment base of 100,000+ within a five-mile radius and is in proximity to major demand drivers such as the Brandon Regional Hospital (1 mile southeast), the Brandon Exchange and Regency Square Malls (2 miles east), The Estuary; a massive entertainment complex which includes Bass Pro Shops, Topgolf, iFly, Carvana, a Tampa General Hospital ER and two USAA office buildings totaling 660,000 SF and houses 4,500 employees (2.4 and 3.4 miles west, respectively). The Brandon Campus of Hillsborough Community College is just minutes away from and is an institution with nearly 47,000 students across its six local campuses and ranks 20th nationally in total number of associate degrees produced annually. Furthermore, the property is within two miles of Interstate 75 and the Lee Roy Selmon Expressway giving easy access to other desired destinations within the Tampa MSA.

FOR SALE DETAILS

PRICE

$6,800,000 USD

PRICE/SF

$143 USD /SF

# OF UNITS

51

PRICE/UNIT

$133,333

CAP RATE

6.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Hamptons at Brandon

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

70

LAND DETAILS

LAND ACRES

11.62 AC

LAND SF

506,167 SF

ZONING

RMC-16

APN/PARCEL ID

U-22-29-20-94F-000000-00000.0

ASK ABOUT THIS PROPERTY

Luis BaezColliersMore Info
813-221-2079

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Luis BaezColliersMore Info
813-221-2079

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