Gandy Parkside
Closed3208 W Gandy Blvd, Tampa, FL 33611
Property type
Multifamily
Unit / Space count
16
Price
$4,000,000
Building size
13,472 sf
Rentable area
13,472 SF
Year built
1985
Year renovated
Occupancy
Zoning code
Lot size
0.64 Acres
Sold/status
Sold · Date unknown
Sale price
$4000000
Bedroom count
Property description
**** CALL FOR OFFERS DUE 8.19.2021 **** Gandy Parkside is a 16 unit multifamily property located in Tampa, FL in Hillsborough County. The 13,472 SF property is comprised of 4, two story buildings constructed in 1985 and features pitched shingle roofs with concrete block construction. The property is secured by a bordering fence that surrounds the grassy courtyards between and around the 4 buildings. Thirteen of the sixteen units have undergone recent interior renovations; with all units equipped with washers and dryers. Upgrades include stainless steel appliances, white shaker cabinets, quartz countertops, vinyl wood flooring, under-mount sinks with modern faucets, subway tile showers, backsplashes & stackable washers and dryers. An investor can add value to the property by renovating the three remaining units. Gandy Parkside is located in South Tampa just 3.0 miles from MacDill Air Force Base, which employs over 13,000 personnel; this creates a constant need for nearby rental housing. Other nearby major employers include Kindred Hospital Bay Area (102 Bed Hospital & 1.7 Miles Away), H.B. Plant High School (2.4 Miles Away), Robinson Senior High School (2.7 Miles Away), over 4,000 businesses within the Westshore Business District (100,000+ Employees & 5.9 Miles Away), Downtown Tampa (8-Million+ SF Office Space & 9.5 Miles Away), and Tampa International Airport (9.45 Miles Away). Gandy Parkside is surrounded by over $6 billion in redevelopment projects including the Westshore Marina District Redevelopment of 52 acres located only 2.0 miles from the property. Popular retailers & dining options are situated nearby including; Publix (0.5 Mi), Walmart Supercenter (1.3 Mi), Starbucks (0.6 Mi), Chick-Fil-A (0.6 Mi), Chipotle (0.6 Mi), Lowe’s (1.4 Mi), Crunch Fitness (1.5 Mi), South Tampa Family YMCA (0.9 Mi), Trader Joes (3.7 Mi), and The Fresh Market (3.6 Mi). Travel is easy with the Selmon Expressway located 0.5 miles away, which provides convenient access to Downtown St. Petersburg (17.9 Mi), and Florida’s award-winning beaches. Gandy Parkside offers an investor the opportunity to acquire a well maintained asset with historically strong occupancy in the highly popular area of South Tampa. The property has proven value-add potential with the ability to modernize interiors and increase rents to market.
Property highlights
- 16-Unit Multifamily Community in Prime South Tampa Location
- Sold at 100% of Asking Price for $250,000 Per Unit
- Buyer Continuing Value-Add Strategy to Capture Escalating Market Rents
- Highly Desirable Two-Bedroom Floor Plans with Washer/Dryer In-Unit
- Convenient Access to Tampa’s Largest Employment Districts Including Downtown Tampa (11 Mins), Westshore Business District (18 Mins), Gateway Business District (20 Mins), and Downtown St. Petersburg (20 Mins)
- Excellent Location in South Tampa with Strong Local Demographics: $96K Average Household Income, and $503K Average House Value Within a 1 Mile Radius