Phillips Street Apartments
Closed3402 Phillips St, Tampa, FL 33619
Property type
Multifamily
Unit / Space count
6
Price
$1,000,000
Building size
6,048 sf
Rentable area
6,048 SF
Year built
1989
Year renovated
Occupancy
Zoning code
Lot size
0.36 Acres
Sold/status
Sold · Date unknown
Sale price
$1000000
Bedroom count
Property description
Phillips Street Apartments is a 6 unit multifamily property located in Tampa, FL within Hillsborough County. The 6,048 SF property is comprised of 3 two story buildings constructed in 1989, and features concrete block construction with pitched shingle roofs. The unit mix consists of 6; 3 Bed 2 Bath Units at 940 square feet. Select units have been renovated with new flooring, granite countertops, new vanities, upgraded fixtures, and modern hardware. An investor has the opportunity to add value by further upgrading unit interiors. Phillips Street Apartments is located just 10 minutes Northeast of Downtown Tampa and near several points of interest. Ybor City, Tampa’s most historic district, is just 3.3 miles from the property and features dozens of gourmet restaurants, lively bars, and unique boutiques. Other nearby destinations include Water Street Tampa (5.4 Mi), Interstate Corporate Office Park (1.4 Mi), The University of South Florida (6.6 Mi), Seminole Hard Rock Casino (3.4 Mi), and Tampa International Airport (11.7 Mi). Phillips Street Apartments offers an investor the opportunity to acquire a well maintained asset with historically strong occupancy in close proximity to Downtown Tampa. The property has proven value-add potential with the ability to modernize the remaining interiors and increase rents to market.
Property highlights
- Well Maintained Asset with Significant Recent Capital Improvements Including: Newer Roofs, All New Central A/C Units, All New Electrical Panels, and Interior Renovations
- Highly Desirable Floor Plans Consisting of 100% 3 Bedroom, 2 Bath Units with Washer/Dryer Connections
- Buyer is Planning an Interior Value-Add Strategy with Proven Monthly Rental Upside
- Excellent Location with Proximity to Major Entertainment, Education, and Employment Drivers including Ybor City (3.3 Mi), Downtown Tampa (5.0 Mi), Tampa International Airport (11.7 Mi), Seminole Hard Rock Casino (3.4 Mi), Interstate Corporate Center (1.4 Mi), and the University of South Florida (6.6 Mi)