Address: 5411 S. Bayshore Blvd,, Tampa, Florida
Created date: October 28, 2023
Date last updated: November 1, 2023
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.