16-Unit Apartment
1218 E 138th Ave, Tampa, FL 33613
For Sale
$2,325,000
The Tampa community comprises 16 residential apartment units.
Property SizeContact for details
Days on Market9
Property Features for 1218 E 138th Ave
General Information
Standard status
Property subtype
Additional Details
Cap Rate
Multifamily Units
Amenities
16-unit apartment community offered at a 6.55% cap rate and a 7.23% Year-One cash-on-cash return
Renovated Units: 10 of 16 units (63%) have been fully renovated, including new flooring, bathrooms, kitchens, and stainless-steel appliances
Property Improvements: Recent upgrades include interior improvements, roof replacements completed between 2024 and 2026, a new parking surface and curbs, an upgraded drainage system, and new landscapi
The property features two new HVAC units, eight window units, and six mini-split systems
Attractive Basis: Pricing is approximately 10% below the sales comparable average of $160,893 per unit
Unit Mix: The property consists of twelve one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units
Future NOI growth is supported by continued unit renovations, achieving pro forma rents, ancillary income streams, and phased utility reimbursements
Proximity to Major Demand Drivers: The property is located approximately 17 miles from the University of South Florida, with convenient access to surrounding healthcare systems, research facilities, and major employment corridors
Listed By:
Zach Brown
(813) 387-4762
Source:
Marcusmillichap
Added: Nov 4
Changed: Nov 8
Last Checked: Nov 12 at 4:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Zach Brown
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Investment Insights
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Carlton Lawrence Apartments is a 16-unit apartment community at 1218 E 138th Ave in Tampa, Florida. The property is classified as an apartment building.
Key Highlights
- 16‑unit apartment community in Tampa, Florida
Property Analytics
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Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
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Business Placement
Demographics for 33613, FL
38,801
Population
17,686
Households
2.2
Avg Household Size
30
Median Age
29%
College-Educated
84%
High-School Grad
7.4 sq mi
ZIP Area
5,243
Density / Sq Mi
$44,642
Median Household Income
$30,911
Median Earnings
$1,178
Median Rent
$219,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Tampa, FL
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Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The Tampa community comprises 16 residential apartment units.
Where is this apartment building located?
The property is located at 1218 E 138th Ave Tampa, FL.
What is the asking price?
The asking price for this property is $2,325,000.
What are key features of this property?
This property features: 16‑unit apartment community in Tampa, Florida
