2200 Gladys St Largo, FL 33774

Listing agency JLL - Tampa, Florida Show Phone

Listed by Joe Thavis · License #FL 3413769

Source Crexi

Added: Apr 11 Updated: Jul 22 at 12:55AM Checked: Jul 22 at 9:30AM

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Investment Insights

Based on property information with market context.

Altura Largo is a 232-unit multifamily property featuring a balanced mix of one- and two-bedroom residences, including 24 loft-style units. The current ownership has invested more than $3.5 million in capital expenditures focused on exterior and community improvements, including new roofs, HVAC replacements, refreshed landscaping, a pool remodel, and a fitness center addition.

The property is located within 20 minutes of Downtown St. Petersburg and about 10 minutes to the Gateway Business District, with quick access to Gulf Coast beaches including Clearwater, St. Petersburg, Treasure Island, Madeira Beach, and Belleair Beach.

According to the offering materials, the asset includes $1.1M+ in potential revenue growth by the end of value-add, including $424K in loss-to-lease recapture, and 82% of units are currently below market rents.

Key Highlights

• 232‑unit multifamily asset with a mix of one- and two‑bedroom homes, including 24 loft‑style units
• Over $3.5M in capital expenditures for exterior and community improvements, including new roofs, HVAC replacements, landscaping refresh, pool remodel, and a fitness center addition
• Includes $424K in loss‑to‑lease recapture as part of $1.1M+ in potential revenue growth by end of value‑add

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FAQs

What type of property is this?

Apartment building - 232-unit multifamily property offers one- and two-bedroom homes, including 24 loft-style units, with recent exterior and amenity upgrades.

Where is this apartment building located?

The property is located at 2200 Gladys St Largo, FL.

What are key features of this property?

This property features: 232‑unit multifamily asset with a mix of one- and two‑bedroom homes, including 24 loft‑style units; Over $3.5M in capital expenditures for exterior and community improvements, including new roofs, HVAC replacements, landscaping refresh, pool remodel, and a fitness center addition; Includes $424K in loss‑to‑lease recapture as part of $1.1M+ in potential revenue growth by end of value‑add