Bayshore Flats
Property Description
Bayshore Flats is a 48-unit boutique apartment community located on iconic Bayshore Boulevard, three blocks east of picturesque Hillsborough Bay. After acquisition, the seller complete a $1.0M ($22K /unit) renovation of the asset with a heavy emphasis on the landscaping and curb appeal of the property. This submarket has improved drastically since the property underwent these renovations. A new buyer will be able to focus on interior renovations such as upgraded kitchens (more modern cabinetry, stainless steel appliances and decorative backslashes) which will allow for significant rental rate increases now that the building attracts a more affluent tenant. The property includes both one-bedroom (24 units) and two-bedroom (24 units) floor plans that provide open-plan living to a high-quality tenant base. Bayshore Flats units each include granite countertops, vinyl plank flooring, in-home washer / dryers, custom paint, central A/C and heating, and upgraded fixtures. Exterior amenities include private bike racks, a bocce court, dog park, fire pit lounge, outdoor grill kitchen, permit parking, and beautiful swimming pool. Bayshore Flats is ideally located in South Tampa and provides easy tenant access to major employment areas throughout the Tampa MSA. The property is less than 15 minutes from the University of Tampa, downtown Tampa, and Tampa General Hospital.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Multifamily type: | Apartments |
| No. of Units: | 48 |
| Year Built: | 1975 |
| Building Size: | 29,208 Sq ft |
| Lot Size: | 1.90 Acres |
| No. of Stories: | 2 |
| Opportunity Zone: | No |
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