Karin Court
Closed6909 N 22nd St, Tampa, FL 33610
Property type
Multifamily
Unit / Space count
16
Price
$2,535,000
Building size
13,048 sf
Rentable area
13,048 SF
Year built
1985
Year renovated
Occupancy
Zoning code
Lot size
0.12 Acres
Sold/status
Sold · Date unknown
Sale price
$2535000
Bedroom count
Property description
Karin Court is a 16 unit multifamily property located in Tampa, FL. The property features 4, two-story buildings with concrete construction and pitched, shingle roofs. The total gross building size is 13,048 SF and the total lot size is 0.12 acres. Residents enjoy being located in the Historic Seminole Heights District near dozens of unique shops, restaurants, venues, and new developments. The TECO Energy corporate offices are located directly across 22nd Street and several major employers are within a 10 minute drive. Karin Court is located near the Innovation Alliance (Potential Unleashed) District of Tampa, which is surrounded by over 74,000 jobs, 4,100 companies, and over $1 billion in nearby developments. Major employers within 5 miles of the property include Busch Gardens (3.0 Mi), Adventure Island (3.0 Mi), Pepsi Co (3.5 Mi), Yuengling Brewery (3.5 Mi), University Mall (4.2 Mi), the James A. Haley Veterans’ Hospital (4.6 Mi), Moffitt Cancer Center (4.9 Mi), and Advent Health Hospital (5.0 Mi). The University of South Florida is within a 10 minute drive to the property and in 2021 was ranked America’s Fastest-Rising University by U.S. News & World Report. Karin Court represents an opportunity to acquire a well maintained, multifamily property in the rapidly developing Historic Seminole Heights neighborhood. With a light value-add strategy, an investor could expect to achieve 300+ above current in-place rents. The strong nearby city development, combined with major nearby employers ensures continued rental demand in the current and future market.
Property highlights
- 16-Unit Multifamily Property Located in Tampa, FL
- Sold at 99.5% of the List Price
- Sourced New to market Out-of-State Buyer with Aggressive Pricing and Terms
- Buyer Plans to Execute on a Continued Light Interior/Exterior Renovation Plan to Exceed Market Premium Rents
- Near Major Employers Including University of South Florida (0.5 Mi.), James A. Haley VA Hospital (0.9 Mi.), Advent Health Hospital (1.7 Mi.), Moffitt Cancer Center (2.1 Mi.), Busch Gardens (4.2 Mi.), & Adventure Island (4.0 Mi.)
- Located in Close Proximity to Mega-Development Projects Including the University Mall Redevelopment ($1 Billion), James A. Haley VA Hospital Expansion ($148 Million), Advent Health New Tower Development ($256 Million), & the Yuengling/PepsiCo Expansion