Contact Property

100149 . 54 Townhome BFR Tampa FL - Availability Details

Chelsea Court 54 Townhome BFR Investment Opportunity, Tampa, FL 33610

  • For Sale $10,799,460
  • City Tampa
  • Neighborhood Old Seminole Heights
  • Zip Code 33610
  • Market Tampa St Petersburg Clearwater
  • Property Type Multi-Family
  • Property Size 81,324 Sqft
  • Date Updated 21 Apr, 2021
Tampa is a major city in the west coast of Florida with an estimated population of 392,890 as of 2018 and has experienced an average annual growth of 2.47% per year, according to the US Census Bureau. The four-county area (Tampa-St. Petersburg-Clearwater, Florida Metropolitan Statistical Area) is composed of roughly 3.1 million residents, making it the second largest MSA in the state, and the fourth largest in the Southeastern United States. Tampa residents and visitors have an array of attractions and areas to visit during their free-time, offering a laid-back and nautical-filled culture and way of life. Tampa homes a large population of people who are young, educated career starters looking for professional occupations. Consequently, 87.3% of residents are high school graduates and 37.3% hold a bachelor’s degree or higher, according to NeighborhoodScout. The median income in Tampa is relatively high at $58,000 while the median single-family rent is $1,529 and 53.7% of residents are renters. John Burns Real Estate Consulting currently ranks Tampa #4 on their Single-Family Rental Rankings of top SFR markets and predicts the area to rise 1 position to #3. Tourism, manufacturing, construction, international banking, biomedical and life sciences, healthcare research, simulation training, aerospace and defense, and commercial space travel have contributed to the state's economic development. Several Fortune 1000 companies are headquartered in Tampa, including OSI Restaurant Partners, WellCare, TECO Energy, and Raymond James Financial. Additionally, MacDill Air Force Base is an active United States Air Force installation located 4 miles south-southwest of downtown Tampa and remains a major employer with over 15,000 active uniformed military personnel with over $3.18 billion of economic impact to the area. In total, Tampa continues to lead in employment demand with over 43,000 job openings in 2018 and continues to grow by 2.2% Being the largest tonnage port in Florida, where nearly half of all seaborne commerce passes through, Tampa’s port is also the seventh largest in the nation. Furthermore, the city ranks second in the state in terms of cruise ship travel, homing over six large and well-known cruise lines.
read more read less

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Location

  • City Tampa, FL
  • Neighborhood Old Seminole Heights
  • Zip Code 33610
  • Market Tampa St Petersburg Clearwater

Contacts

broker

Jeff Cline

SVN | SFRhub Advisors

(602) 441-5354

Highlights

  • Go to www.SFRhub.com to custom and search for portfolio 100149 to view additional information!
  • 54 Home Build for Rent Rental Investment Portfolio
  • Seller is a new venture of very experienced local builders and developers
  • Short distance from Downtown Tampa, Florida
  • Tampa is predicted to have some of the highest YOY rent growth in 2020 of about 3%*
  • Stabilized Year 1 Gross Yield of 10.14%
  • Stabilized Year 1 Cap Rate of 6.33%
  • Strong 28.52% Stabilized Year 1 Leveraged IRR and a Stabilized Year 1 Leveraged Cash on Cash of 7.75%
  • Lower estimated rental saturation rate for the area around the property than either the county or MSA
  • Estimated property vacancy rate of 3.17% compared to MSA vacancy rate of 9.95%
  • John Burns Real Estate Consulting currently ranks Tampa #4 on their Single-Family Rental Rankings of top SFR markets and predicts the area to rise 1 position to #3*
  • Strong YOY Home Price Appreciation as of May 2020 of 7% and YOY rent increase of 4%*
  • *John Burns Real Estate Consulting

Contact Listing Broker

broker

Jeff Cline

SVN | SFRhub Advisors

(602) 441-5354

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.