Holly Court
Closed2008 Holly Ct, Tampa, FL 33613
Property type
Multifamily
Unit / Space count
33
Price
$1,900,000
Building size
20,718 sf
Rentable area
20,718 SF
Year built
1971
Year renovated
Occupancy
Zoning code
Lot size
1.54 Acres
Sold/status
Sold · Date unknown
Sale price
$1900000
Bedroom count
Property description
Holly Court is a 33-unit garden style apartment community located in the University submarket of Tampa, FL made up of 17 one-story buildings spread across approximately 1.54 acres. The buildings were constructed from 1971 -1972 and feature concrete block framing and pitched roofs. The unit mix consists of 19 one-bedroom one-bathroom units and 14 two-bedroom one-bathroom units. Holly Court offers the investor a value-add opportunity to acquire a multifamily property in a growth market well below replacement cost with room to significantly increase rents to market levels. Holly Court recently received major renovations such as new roofs, central A/C, and an on-site laundry facility.The majority of the units at Holly Court are all tile and select units have been fully upgraded. Additionally, a new recreational park including a children's playground was built across the street offering tenants an additional amenity. The property is conveniently located within minutes of major economic drivers in the area. These include the University of South Florida, The Florida Hospital, James A Haley VA Hospital, and Busch Gardens amusement park; all of which are within 5 miles of the subject. The submarket is easily accessible via major roadways including I-275 serving Downtown Tampa and the Westshore CBD, I-75 and I-4. The property sits just north of Fletcher Ave which gives residents easy access to retail stores and public transportation.
Property highlights
- Buyer Plans to Continue to Implement Already Proven Interior Value-Add Program
- Closed Within 36 Days of Contract Execution
- Many Recent Capital Improvements Including All New Roofs & HVAC’S
- Property is Less Than 2 Miles from the University Mall; Which Has Plans for a $1B Redevelopment
- Property is 1.4 Miles from the University of South Florida, a Flagship University with an Enrollment over 50,000