Colonial Club
Closed7802 Colonial Club Ct, Riverview, FL 33578
Property type
Multifamily
Unit / Space count
12
Price
$2,100,000
Building size
9,744 sf
Rentable area
9,744 SF
Year built
1982
Year renovated
Occupancy
Zoning code
Lot size
0.68 Acres
Sold/status
2026-08-25
Sale price
$2100000
Bedroom count
Property description
Colonial Club Apartments is a nicely renovated 12-unit apartment community located in the rapidly growing Riverview, FL submarket. Built in 1982 with concrete block construction, pitched roofs, and central HVAC, the property features an attractive unit mix of spacious 800 square foot two-bedroom floorplans with washers and dryers provided. Recent capital improvements have significantly upgraded the asset, including extensive interior renovations to nearly all units, major system upgrades, fresh exterior paint, and enhanced landscaping. The property offers stable in place cash flow with additional upside through full implementation of the RUBS program. Unit interiors feature modern finishes such as LVP flooring, white shaker cabinets, stainless steel appliances, and updated kitchens and baths. Riverview continues to experience strong population and employment growth, supported by new healthcare and retail developments nearby. Located just 12 miles from Downtown Tampa and surrounded by national retailers including ALDI, The Home Depot, Target, Publix, and Walmart, Colonial Club Apartments is well positioned for continued demand and long-term growth.
Property highlights
- Nicely Renovated 12-Unit Apartment Community in the Rapidly Growing Riverview, FL
- 1982 Concrete Block Construction with Pitched Roofs and Central HVAC
- Attractive Unit Mix of 800 SF 2-Bedroom Floorplans w/ Washers & Dryers Provided
- 6.25% Takeover Cap Rate, Reflecting Adjusted Taxes & Insurance
- Ability to Boost Additional Income by Achieving 100% Implementation of RUBS Program
- Recent Capex of $485,000: Interior Renovations for 11/12 Units, a New Septic System, an Upgraded Drainage System, Repainting the Buildings, Restriping the Parking Lot, and Upgrading the Landscaping
- Unit Interiors Feature LVP Flooring, White Shaker Cabinets, Stainless Steel Appliances, Washers & Dryers, and Updated Showers and Vanities
- Riverview has Posted Strong Population Growth of 10%+ Over the Past 5 Years (CoStar)
- Employment Growth (+97%) has Outpaced Population Growth (+81%) Since 2010, a Trend that is Projected to Continue Through 2050 (PlanHillsborough.org)
- Upcoming Developments Include a 40k SF Inpatient Rehab Facility (Ryan Companies & Exalt Health) and a 15.5 Acre Retail Development that will Include Multiple QSRs, a Car Wash, and Self-Storage (Ferber Co.)
- Located Just 12 Miles Outside of Downtown Tampa, the Premier CBD in the Region with Significant Entertainment Options
- Convenient Access to Surrounding Retail Such as ALDI (0.8 mi), Bealls (1.3 mi), The Home Depot (1.6 mi), Lowes (1.7 mi), Target (1.8 mi), Publix (2.0 mi), and Walmart (2.0 mi