8412-8420 N Lois Ave - Apartments FOR SALE


Tampa, FL 33614- Carrollwood
$3,800,000 USD
813-577-3837
8412-8420 N Lois Ave, Tampa, FL for Sale
$3,800,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

8412-8420 N Lois Ave
Tampa, FL 33614
Carrollwood


HIGHLIGHTS

  • 20-Unit Multifamily Community with 100% 2-Bedroom Floorplans and Washers/Dryers Included for Select Units
  • 1981 Concrete Block Construction with Brand New Roofs, Windows, and Water Heaters
  • Ability to Capture $195+ Average Monthly Rental Upside by Installing Machines in All Units and Stabilizing at Market Rents
  • Units Have Been Upgraded with Vinyl/Tile Flooring, Stainless Steel Appliances, Granite Countertops, Repainted Cabinetry, Updated Bathrooms, and More
  • Tampa is Ranked as the 10th Best City to Start a Business in the Nation (USA Today Blueprint – 2024)
  • Nearby to Tampa International Airport which is Ranked as the #2 Large Airport in the Nation (J.D. Power – 2024)

OVERVIEW

Lois Apartments is a 20-unit, multifamily community located in the heart of Tampa, offering an exceptional opportunity for investors. This property features all 2-bedroom floorplans, with select units equipped with washers and dryers. Built in 1981 with durable concrete block construction, the property has undergone significant improvements, including brand-new roofs, and windows. Additionally, units have been upgraded with vinyl/tile flooring, stainless steel appliances, granite countertops, repainted cabinets, and updated bathrooms, ensuring a high-quality living experience for residents. With a potential rental upside of $195+ per month by adding laundry machines to all units and stabilizing rents at market rates, Lois Apartments offers impressive potential for long-term value growth. The property is strategically located with easy access to both the Westshore Business District and Downtown Tampa, two of the city's premier office hubs. Tampa continues to be a rapidly growing market, recently ranked as the 10th best city to start a business in the nation by USA Today Blueprint (2024). Lois Apartments is also conveniently close to the Tampa International Airport, ranked the #2 large airport in the U.S. (J.D. Power, 2024). The community benefits from nearby retail amenities, including a Walmart Supercenter, Wawa, Publix, Super Target, and a variety of local eateries, providing residents with everything they need just a short distance away. With recent exterior improvements such as a new irrigation system, fresh building siding and paint, security cameras, and new sidewalks, this property is poised for continued success in a thriving location.

FOR SALE DETAILS

PRICE

$3,800,000 USD

PRICE/SF

$193 USD /SF

# OF UNITS

20

PRICE/UNIT

$190,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lois Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1981

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

RMC-16

APN/PARCEL ID

U-21-28-18-14M-000001-00001.0,U-21-28-18-14M-000001-00002.0,U-21-28-18-14M-000001-00003.0,U-21-28-18-14M-000001-00004.0,U-21-28-18-14M-000001-00005.0

ASK ABOUT THIS PROPERTY

Mark SavareseFranklin StreetMore Info
813-577-3837

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Mark SavareseFranklin StreetMore Info
813-577-3837

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