Park at Chesterfield
Closed5039 Chalet Ct, Tampa, FL 33617
Property type
Multifamily
Unit / Space count
244
Price
$14,750,000
Building size
272,978 sf
Rentable area
272,978 SF
Year built
1969
Year renovated
Occupancy
Zoning code
Lot size
13.45 Acres
Sold/status
Sold · Date unknown
Sale price
$14750000
Bedroom count
Property description
The Park at Chesterfield (the “Property”) is a 244-unit, garden-style apartment community located in the Temple Terrace submarket of Tampa, Florida. Built in 1969, the Property is comprised of 28 buildings constructed of desirable concrete block and positioned around a 13.45-acre site accented by mature landscaping. The Property features flat roofs and offers a very attractive unit mix comprised of spacious one, two, and three-bedroom floor plans ranging from 643 to 1,515 square feet. The Property’s attractive amenity package includes a beautifully furnished designer clubhouse, state-of-the-art fitness center with children’s play area, two (2) resort-style swimming pools with sunning deck and tropical landscaping, a resident business center with high-speed internet and coffee bar, tennis court, children’s play area and picnic and barbecue area. Individual units feature two-tone colored interiors, balconies/patios/solariums (in select units), full-size washer/dryer sets (in select units), walk-in closets, plantation blinds, ornamental chair rails, kitchen back splashes, breakfast bar, and European light fixtures. The Park at Chesterfield presents a true value-add opportunity through continued interior improvements and subsequent rental rate growth. The property is currently 95% occupied and we believe an investor can expect an increase in NOI in the short run while realizing capital appreciation in the long-run.