Parkview Apartments
Closed1921 E 137th Ave, Tampa, FL 33613
Property type
Multifamily
Unit / Space count
12
Price
$1,500,000
Building size
8,424 sf
Rentable area
8,424 SF
Year built
1972
Year renovated
Occupancy
Zoning code
Lot size
0.59 Acres
Sold/status
Sold · Date unknown
Sale price
$1500000
Bedroom count
Property description
Parkview Apartments is a 12-unit multifamily community located in the Uptown District of Tampa, FL. The property consists of 6 duplex buildings constructed in 1972 with concrete block construction and pitched roofs. The property is in excellent condition and recently underwent a complete renovation receiving over $420,000 ($35K/unit) in capital expenditures in the past 12 months. All units feature functional two-bedroom floor plans at approximately 702 square feet and are equipped with brand new washer/dryers (GE stackable). The interiors feature high-end residential finishes including stainless steel appliances (Samsung), granite countertops, soft-close white shaker-style cabinetry (Panda), 8” luxury “wood-like” porcelain tile flooring, subway tiled showers, 10” stainless steel kitchen sinks (Zuhne), recessed lighting, and two-panel doors with matte-black hardware (Schlage). Improvements to the exterior of the property include: re-asphalt and re- striped parking lot, exterior paint, landscaping, new metal fence/gate with key fob “Doorbird” access. In addition, the mechanical components of the property were upgraded significantly, including upgrades to electrical, plumbing, HVAC, windows, water heaters, and more. The property is located in the Uptown or Innovation Alliance (!p) District of Tampa, surrounded by over 74,000 jobs & 4,100 companies within the 25,000-acre tech hub. Major employers include Advent Health Hospital (1.2 Mi), James A Haley Veteran's Hospital (1.1 Mi), Moffitt Cancer Center (1.6 Mi), The University of South Florida (1.1 miles away & 16,000 employees), PepsiCo (2.0 Mi) and Busch Gardens/Adventure Island (3.9 miles away & over 4,000 employees). More immediately, Parkview Apartments is situated across the street from Harvest Hope Park, a brand new 7-acre park with a 33-bed organic community garden, a multipurpose sports field, a playground, walking trails and a one-acre pond stocked with bass for fishing. Given the proximity to major economic drivers, there are a variety of large-scale redevelopments nearby including the $3B mixed-use University Mall redevelopment, over $800-million worth of expansions planned for Advent Health, James A Haley Veteran's Hospital and Moffitt Cancer Center and the 32-acre redevelopment of the nearby Big Top Flea Market. Parkview Apartments represents an attractive opportunity for an investor to acquire a turn-key multifamily property with in-place cash flow in a high-growth submarket surrounded by major employment and economic drivers.
Property highlights
- 12-Unit Multifamily Community Located in the Uptown District (Over 74,000 Jobs & 4,100 Companies Nearby)
- 6 Duplex Buildings Constructed in 1972 with Concrete Block Construction & Pitched Roofs
- Received Over $420,000 in Capital Improvements in the Past 12 Months
- 100% 2 Bedroom Floor Plans
- Fully Renovated Interiors Equipped with Brand New Washer/Dryers and Luxury Residential Finishes
- Water/Sewer Individually Metered & Paid by Tenant
- Located 1 Mile From the University of South Florida (60,000 Annual Students & 16,000+ Employees)
- Located Across the Street From the Brand New 7-Acre Harvest Hope Park
- Convenient to the $3B Mixed-Use Redevelopment of University Mall, over $800 Million in all 3 Hospital Redevelopments and the 32-Acre Redevelopment of Big Top Flea Market