River View Apartments (2018)
Closed5659 Del Prado Dr, Tampa, FL 33617
Property type
Multifamily
Unit / Space count
296
Price
$31,000,000
Building size
369,700 sf
Rentable area
369,700 SF
Year built
1971
Year renovated
Occupancy
Zoning code
Lot size
18.43 Acres
Sold/status
Sold · Date unknown
Sale price
$31000000
Bedroom count
Property description
Sold in 2018. River View is a 296-unit multifamily offering in Tampa, Florida. The property consists of thirty, two-story, residential buildings and a single-story clubhouse with a fitness center and secondary resident clubhouse. The buildings were built between 1971-1972 with concrete block with stucco exterior walls and pitched shingled roofs. The unit mix at River View consists of 140 One Bedroom– One Bath units, 40 Two Bedroom – One Bath units, 92 Two Bedroom – Two Bath units, and 24 Three Bedroom – Two Bath units with an overall average of 1,127 square feet. The Property is conveniently located 8 Miles from Downtown Tampa and only 4 miles from I-4, which provides easy access to Orlando. Major employers in the immediate market include Busch Gardens, Florida Hospital, and the University of South Florida; all of which are within 6 miles of the subject. The property has seen a significant amount of capital improvements in recent years. The windows were replaced in 2012; new roofs, a new resident picnic area, and a complete parking lot overlay were upgrades made in 2017. River View is located on 56th street, a heavily trafficked thoroughfare connecting north Tampa to downtown, with prominent visibility and excellent ingress and egress.
Property highlights
- Proven Value Add Opportunity Through Interior Renovation Program, Achieving 9% Average Increases
- Major Recent Capital Items:
- - Brand New Roofs
- - Recently Replaced Windows
- - New Overlaid Parking Lot
- - Newly Created Gazebo/Picnic Area with Walking Trail
- Spectacular River Exposure with Waterfront Unit Premiums on Wide Stretch of Hillsborough River
- Located Within Minutes of Multiple Significant Economic Drivers Including Downtown Tampa, University of South Florida, Hard Rock Resort, Florida Hospital, VA Hospital, and Busch Gardens
- Built of Concrete Block and Featuring the Largest Units In Submarket with Average Square Footage of 1,127 sf
- Property Amenities Including Resident Clubhouse, Dog Park, Playground, Fishing Dock, Resort Style Pool, Fitness Center and
- Gated Entrance