Martindale Apts
For sale6244-6250 S Martindale Ave, Tampa, FL 33611
Property type
Multifamily
Unit / Space count
8
Price
$2,400,000
Building size
7,200 sf
Rentable area
7,200 SF
Year built
1979
Year renovated
Occupancy
Zoning code
Lot size
0.69 Acres
Bedroom count
Price per Unit
$300,000
Price per SF
$333.33
Property description
This eight-unit multifamily property in South Tampa’s highly desirable Bayshore submarket presents an attractive investment opportunity with a strong combination of location, quality, and income potential. The property consists entirely of two-bedroom, one-bathroom units with concrete-block construction, pitched roofs, and recent capital improvements, including fully furnished interiors, modern finishes, central A/C, and in-unit washers and dryers. Its pet-friendly design and flexible furnished configuration broaden the tenant pool and create opportunities to capture both traditional long-term renters and higher-demand furnished and medium-term tenants. The property’s location directly across from MacDill 48 Park and just minutes from MacDill Air Force Base, Bayshore Boulevard, Downtown Tampa, and the Westshore Business District provides convenient access to some of Tampa’s most important employment and lifestyle destinations. This supports consistent rental demand and positions the property to benefit from the growing need for furnished and medium-term housing among military personnel, professionals, and employees working in nearby employment centers. From an investment perspective, there is also potential to enhance returns through utility reimbursements, optimize the furnished rental strategy, and potentially take advantage of favorable residential financing options associated with the property’s duplex configuration. Overall, the combination of a strong South Tampa location, renovated and fully furnished units, multiple rental strategies, and identifiable opportunities to increase income makes this an compelling value-add investment with attractive long-term potential.
Property highlights
- Seller Financing: 70% LTV with interest-only payments over a three-year term. The interest rate is 5.80% in Year 1, 6.25% in Year 2, and 6.75% in Year 3, with the remaining principal balance due at maturity
- 8 units featuring concrete block with pitched roofs.
- Property consists of 100% two-bedroom/one-bathroom floorplans.
- Recent capital improvements include fully furnished units with updated interiors, modern finishes, central A/C, and in-unit washers and dryers.
- Opportunity to capitalize on potentially favorable residential financing options due to the portfolio’s duplex configuration.
- Strong furnished and medium-term rental demand driven by proximity to MacDill Air Force Base and major South Tampa employment centers.
- Potential to implement utility reimbursements where utilities are currently owner-paid.
- Located in South Tampa's Bayshore submarket and directly across the street from MacDill 48 Park.
- Minutes from Bayshore Boulevard, Downtown Tampa, MacDill Air Force Base, and the Westshore Business District, providing convenient access to Tampa's largest employment centers.