7108 S Kissimmee St - Apartments FOR SALE


Tampa, FL 33616- South Tampa
$1,195,000 USD
813-682-6177
7108 S Kissimmee St, Tampa, FL for Sale
$1,195,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

7108 S Kissimmee St
Tampa, FL 33616
South Tampa


HIGHLIGHTS

  • Highly Desirable 1980’s Concrete Block Construction with Pitched Roofs
  • 6.02% Takeover Cap Rate With Adjusted Taxes & Insurance
  • Ability to Increase Takeover NOI by 15%+ in Year 2 by Increasing Rent $100 to Market
  • Currently 100% Occupied with Next Lease Turnover in April 2025
  • Excellent Location in Port Tampa with Close Proximity to MacDill Air Force Base, a Major Employer which Creates Constant Demand for Nearby Housing
  • Within 3 Miles to Major Retail and Dining Including Publix Super Market, Target, Home Depot, Starbucks, Chipotle & Chick-fil-A

OVERVIEW

Southsider Tampa, is a highly desirable multifamily investment property featuring 1980’s concrete block construction with pitched roofs, offering durability and timeless appeal. This property consists of seven units, six of which have been recently renovated with modern upgrades including white shaker cabinets, granite countertops, new vinyl wood/tile flooring, and a full suite of brand-new appliances, including microwaves, dishwashers, and in-unit washer/dryers. Recent capital expenditures totaling $105,000 have significantly improved the property, including brand new HVAC condensing units and handlers, a newly replaced staircase, white vinyl fencing, landscaping enhancements, and upgraded kitchens. The property is strategically located in the Port Tampa area, an ideal location with strong rental demand. Southsider Tampa offers a compelling investment opportunity with a 6.02% takeover cap rate and the potential to increase NOI by over 15% in year two through rent adjustments to market rates. The property’s prime location in Port Tampa ensures a steady demand for housing, with close proximity to major employers like MacDill Air Force Base and easy access to Tampa’s top business districts, including Downtown Tampa, Westshore Business District, Gateway Business District, and Downtown St. Petersburg—all just a short drive away. Residents will enjoy the convenience of nearby retail centers featuring popular stores like Publix, Target, and Home Depot, as well as dining options such as Starbucks, Chipotle, and Chick-fil-A. Just five minutes from the Westshore Marina District, a stunning 52-acre waterfront redevelopment with upscale shopping, dining, and panoramic views of Tampa Bay, this property is positioned for long-term growth and tenant satisfaction, making it an exceptional choice for any investor.

FOR SALE DETAILS

PRICE

$1,195,000 USD

PRICE/SF

$222 USD /SF

# OF UNITS

7

PRICE/UNIT

$170,714

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Southsider Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1983

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

RM-24

APN/PARCEL ID

138675-0000

ASK ABOUT THIS PROPERTY

Daniel PineroFranklin StreetMore Info
813-682-6177

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Daniel PineroFranklin StreetMore Info
813-682-6177

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