6822 S Shamrock Dr - Apartments FOR SALE


Tampa, FL 33616- South Tampa
$5,950,000 USD
407-234-4111
6822 S Shamrock Dr, Tampa, FL for Sale
$5,950,000 USD
Apartments - FOR SALE
1/15
null | 5.05% Cap Rate

6822 S Shamrock Dr
Tampa, FL 33616
South Tampa


HIGHLIGHTS

  • Seller Financing Available!!!
  • 100% occupied with the vast majority of the leases not rolling until 2024
  • Located in the dynamic South Tampa submarket and less than a mile from MacDill Air Force Base
  • Targeted interior & exterior upgrade opportunities remain to capture new high-end consumer demand
  • Offered Free & Clear
  • In-place condominium association

OVERVIEW

SELLER FINANCING AVAILABLE!!! Harper Flats is a 28-unit boutique apartment community comprised of all one bedroom / one bathroom floor plans located in high-demand South Tampa immediately North of MacDill Air Force Base. As of September 2023, the property is 100% occupied and has historically experienced strong renter demand due to its excellent location. Current ownership completed a $166K renovation plan that included exterior aesthetic upgrades that helped reposition the property as a premium housing option. These improvements may be further upgraded via a value-add strategy to include stainless steel appliances, in unit washer/dryer, expanded hardwood flooring, upgraded light fixtures, kitchen backsplashes, undermount sinks, exterior repainting, enclosing and expanding first floor patios, and a larger amentity area. In addition to value-add improvements, additional rental rate upside could be achieved by marking rents to current market. As the summer leasing season progressed, current ownership continued to increase rental rates resulting in leases signed earlier in the year that are now below the market. Unit interiors include granite countertops, hardwood floors, central air conditioning, crown molding, modern cabinets, and black appliances. The property's exterior amenities include a fire pit lounge, an outdoor grill kitchen, and a picnic area. Capitalizing on the strong submarket demand and accompanying market rent growth, Harper Flats provides a compelling value-add opportunity through targeted interior and exterior upgrades. Condominium association in-place to facilitate immediate retail sales, if desired. This offering includes the entirety of the condominium.

FOR SALE DETAILS

PRICE

$5,950,000 USD

PRICE/SF

$42 USD /SF

# OF UNITS

28

PRICE/UNIT

$212,500

CAP RATE

5.05%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harper Flats

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1983

PARKING SPACES

54

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,848 SF

ZONING

RS-50

APN/PARCEL ID

A-17-30-18-9F4-000000-00101.0,A-17-30-18-9F4-000000-00102.0,A-17-30-18-9F4-000000-00103.0,A-17-30-18-9F4-000000-00104.0,A-17-30-18-9F4-000000-00105.0,A-17-30-18-9F4-000000-00106.0,A-17-30-18-9F4-000000-00107.0,A-17-30-18-9F4-000000-00108.0,A-17-30-18-9F4-000000-00109.0,A-17-30-18-9F4-000000-00110.0,A-17-30-18-9F4-000000-00111.0,A-17-30-18-9F4-000000-00112.0,A-17-30-18-9F4-000000-00113.0,A-17-30-18-9F4-000000-00114.0

ASK ABOUT THIS PROPERTY

Carter CollisonCollison CapitalMore Info
407-234-4111

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Carter CollisonCollison CapitalMore Info
407-234-4111

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