3001 W Horatio
Closed3001 W Horatio St, Tampa, FL 33609
Property type
Multifamily
Unit / Space count
10
Price
$1,395,000
Building size
8,720 sf
Rentable area
8,720 SF
Year built
1971
Year renovated
Occupancy
Zoning code
Lot size
0.22 Acres
Sold/status
Sold · Date unknown
Sale price
$1395000
Bedroom count
Property description
Horatio Apartments is located in Tampa, Florida spread across .22 acres. The property was built in 1971 with concrete block construction and stucco exterior walls. The unit mix consists of 2-studio units of 562 square feet, 2-one bedroom one bathroom units of 665 square feet, 2-one bedroom one bathroom units of 735 square feet & 4-two bedroom one bathrooms units of 981 square feet. The property has been meticulously taken care of with manicured landscaping to compliment the excellent condition of the existing property. The Property has recently underwent full renovation of 90% of the total units on-site. Renovated units have received all new appliances and granite counter tops in kitchens and bathrooms. Additionally, a majority of the windows have been replaced over the last few years. The Property is within walking distance of a Howard Avenue, one of the most popular bar and restaurant districts in the Tampa Bay area. With such strong sub-market occupancy coupled with the prime location in South Tampa, there is room for rent growth. In the South Tampa sub-market, effective rent growth for B/C Class product has been positive in all but two quarters over the last 5 years. Average annual rent growth during that time period has been over 4.2%. In our opinion, occupancy will remain strong while Net Operating Income will increase.