Timber Trace Apartments
Closed11716 N 58th St, Tampa, FL 33617
Property type
Multifamily
Unit / Space count
116
Price
Subject to Offer
Building size
84,070 sf
Rentable area
84,070 SF
Year built
1974
Year renovated
Occupancy
Zoning code
Lot size
6.04 Acres
Sold/status
Sold · Date unknown
Unit mix
98x
2br
Bedroom count
Property description
Timber Trace is a 116 unit multifamily community located in the Temple Terrace submarket of Tampa, FL. The property offers a value-add opportunity with significant upside through loss to lease burn-off and the ability to capture escalating market rents. Timber Trace features a desirable unit mix with 86% two-bedroom floor plans. The community features a swimming pool, leasing office, playground, on-site laundry facilities, gated access, and on site management and maintenance. Units feature select upgrades such as stainless steel appliances, vinyl wood plank flooring, and washer and dryer connections. Timber Trace is located 1.0 mile from the University of South Florida, one of the nation's top 50 public universities with over 50,000 students and 16,000 staff members. The community is also convenient to national retailers including Publix Supermarket (0.7 Mi), Walmart Supercenter (3.2 Mi), Target (3.3 Mi), and Starbucks (3.3 Mi). Timber Trace is located within the "Uptown" district which contains over 74,000 nearby jobs and 4,100 companies including Advent Health Hospital (3.3 Mi), Veteran’s Hospital (3.1 Mi), Moffitt Cancer Center (2.8 Mi), Busch Gardens (3.3 Mi), Yuengling Brewery (3.2 Mi), and PepsiCo (2.8 MI). Timber Trace offers an investor a value-add opportunity in one of Tampa's most rapidly expanding submarkets. The proximity to the University of South Florida and multiple employers, ensures continued rental success in the current and future market.
Property highlights
- 116-Unit Multifamily Community Located in the Temple Terrace Submarket of Tampa, FL
- Value-Add Opportunity with Significant Upside Through Loss to Lease Burn-Off and Capturing Escalating Market Rents
- Highly Desirable Unit Mix with 86% Two-Bedroom Floor Plans
- Majority of Interiors Upgraded and Select Units Feature Stainless Steel Appliances, Vinyl Plank Flooring and Washer & Dryer Connections
- Community Amenities Include a Swimming Pool, Leasing Office, Playground, On-Site Laundry Facility, Gated Access, and On-Site Management/Maintenance
- Located Within 1.0 Mile from the University of South Florida, One of the Nation’s Top 50 Public Universities with Over 50,000 Students & 16,000 Staff Members
- Near Several Major Retailers Including Publix Supermarket (0.7 Mi), Walmart Supercenter (3.2 Mi), Target (3.3 Mi), and Starbucks (3.3 Mi)
- Convenient to Over $2 Billion in New Developments Including the $1 Billion “Uptown” University Mall Development (3.5 Mi), the Yuengling Brewery Campus Expansion Development (3.2 Mi), the $256 million Advent Health Expansion Development (3.3 Mi), and the $400 million Moffitt Cancer Center Development (2.8 Mi)
- Located in Close Proximity to Over 74,000 Jobs & 4,100 Companies Including Major Employers Such As Advent Health Hospital (3.3 Mi), Veteran’s Hospital (3.1 Mi), Moffitt Cancer Center (2.8 Mi), Busch Gardens (3.3 Mi), Yuengling Brewery (3.2 Mi), and PepsiCo (2.8 MI)