Serenity Lake
Closed14508 Seaford Circle, Tampa, FL 33613
Property type
Multifamily
Unit / Space count
248
Price
Subject to Offer
Building size
183,832 sf
Rentable area
183,832 SF
Year built
1974
Year renovated
Occupancy
Zoning code
Lot size
15.57 Acres
Sold/status
Sold · Date unknown
Bedroom count
Property description
Serenity Lake is an exceptional investment opportunity in Tampa, FL – a property boasting 248 out of 260 condo units strategically located near major employers, a university, and significant developments - complete with desirable amenities such as swimming pools, a fitness center, a dog park, and a leasing office Ninety-two (92%) of total units are in the classic condition, or only partially renovated. Renovated interiors include stainless steel appliances, tile floors, quartz countertops, white cabinets, and modern fixtures. All units have washer and dryer connections. Recent renovations to 20 units have resulted in a remarkable $475/unit/month premium in rent. Serenity Lake is divided into two phases; phase one operating as apartments with no HOA, and phase two, a fractured condo community with full control over the HOA board. Serenity Lake is in close proximity to over $2 billion in new developments, including the $1 billion “Uptown” University Mall Redevelopment (1.8 Mi), the $256 million Advent Health Expansion Development (1.5 Mi), the $400 million Moffitt Cancer Center Development (2.4 Mi), and the Yuengling Brewery Campus Expansion Development (3.0 Mi). Convenient access to essential retailers, including Aldi (1.5 Mi), Walmart (1.7 Mi), Starbucks (1.8 Mi), Target (1.8 Mi), Walgreens (1.8 Mi), Publix (2.5 Mi), and CVS (2.7 Mi). This prime location ensures not just immediate returns but long-term appreciation as well. Serenity Lake's location, amenities, and promising potential for value appreciation makes the property a compelling investment opportunity in the real estate market.
Property highlights
- 248 Out Of 260 Condo Units Located in Tampa, FL
- Value-Add Opportunity with Excellent Visibility in a High Demand Location Near Major Employers/University/Significant Developments
- 92% of Total Units are in Classic Condition or Partially Renovated
- Property is Divided into Two Phases: Phase One is Wholly Owned and Operated as Apartments (128 units) with No HOA. Phase Two is a Fractured Condo Community with 90.9% Ownership (120 out of 132 units)
- 100% Control Over the HOA Board
- Potential to Collapse HOA by-Right Per Condo Docs (90%+ bulk ownership)
- Fully Renovated Units are Achieving $475 Monthly Premiums Over Classic Units (2 Bedrooms)
- Functional Open Floor Plans
- Two-Story Concrete Block with Poured Concrete Subfloors
- Renovated Interior Units Include Stainless Steel Appliances, Tile Floors, Quartz Countertops, White Cabinets, and Modern Fixtures
- Washer and Dryer Connections in All Units
- Desirable Amenities Include 2 Swimming Pools, Fitness Center, Dog Park, and Leasing Office/Clubhouse
- Ideally Situated Near Over 74,000 Jobs and 4,100 Companies, with Prominent Employers Just Minutes Away. These Include the Veterans Hospital (2.0 miles), AdventHealth Hospital (1.5 miles), Moffitt Cancer Center (2.4 miles), PepsiCo (2.8 miles), Yuengling Brewery (3.0miles), and Busch Gardens (5.5 miles)
- Located Just Moments Away from Over $2 Billion in New Developments, Including the $1 Billion “Uptown” University Mall Redevelopment (1.8 miles), the $256 Million AdventHealth Expansion (1.5 miles), the $400 Million Moffitt Cancer Center Development (2.4 miles), and the Yuengling Brewery Campus Expansion (3.0 miles)
- Nearby Retailers Include Aldi (1.5 miles), Walmart (1.7 miles), Starbucks (1.8 miles), Target (1.8 miles), Walgreens (1.8 miles), Publix (2.5 miles), and CVS (2.7 miles)