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    Multifamily Portfolio in Central Tampa Title is generated by Realmo AI

    5505 N Habana Ave 2505 Violet St 4827 Melton Ave, Tampa, FL 33614

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    For Sale
    $13,000,000

    Three-property multifamily portfolio with value-add opportunity in central Tampa.

    Type:Multifamily
    Added:
    Apr 1, 2026
    Days on Market:
    67
    Last Refresh:
    Apr 1 at 11:53 am

    Property Features for 5505 N Habana Ave 2505 Violet St 4827 Melton Ave

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    Building Details

    Year Built
    1983

    We can help!

    Listing Contact
    Mark Savarese

    Listing agent Mark Savarese License #FL #SL3424810

    Listing office

    Listing date Apr 1, 2026

    Source Franklinst

    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 Mark Savarese

    HighLights

    • 5.83% Takeover Cap Rate with Adjusted Taxes, with a clear path to 7.15%+ year 2 cap rate.
    • Prime Value‑Add Opportunity: Rents are currently below market, with a clear path to increasing rents to the comp set average of $1,500+.
    • Recent Capital Improvements: Includes two of three new roofs, all‑new HVAC systems, stainless‑steel appliances, and light interior renovations.
    • Strong, Well‑Balanced Unit Mix: Features 52% two‑bedroom/one‑bath and 48% one‑bedroom/one‑bath units.
    • Central Tampa Positioning: Strategically located minutes from Downtown Tampa, Westshore Business District, and Tampa International Airport, offering direct access to major economic engines and 170,000+ jobs.
    • Proximity to Major Employers: Close to St. Joseph’s Hospital, Tampa General Hospital, Hillsborough County Public Schools, and the University of Tampa, driving strong renter demand.

    Overview

    The Park View Portfolio is a multifamily offering consisting of three properties constructed between 1972 and 1983, featuring durable concrete block construction. The unit mix is well-balanced, with 52% two-bedroom/one-bath units and 48% one-bedroom/one-bath units. The portfolio is offered at a 5.83% takeover cap rate with adjusted taxes. Meaningful capital improvements have already been completed, including two of three new roofs, all-new HVAC systems, stainless-steel appliances, and light interior renovations. This allows a new owner to focus on executing the remaining value-add strategy. The properties are strategically located minutes from Downtown Tampa, Westshore Business District, and Tampa International Airport, offering direct access to the region’s leading economic engines and over 170,000 jobs. The location provides proximity to major employers, including St. Joseph’s Hospital, Tampa General Hospital, Hillsborough County Public Schools, and the University of Tampa. The properties are surrounded by established commercial corridors with convenient access to Publix, Midtown Tampa, International Plaza & Bay Street, and a wide selection of dining and entertainment options. The portfolio is positioned within redeveloping and high-demand areas, including Seminole Heights and North Tampa, supported by continued population growth, rising home values, and increased renter preference. Average rents at the portfolio are $1,378, with a clear path to a 7.15%+ year 2 cap rate by increasing rents to the comp set average of $1,500+.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4851713
    Latitude
    27.9902282

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    FAQs

    What type of property is this?
    Apartment building - Three-property multifamily portfolio with value-add opportunity in central Tampa.
    Where is this apartment building located?
    The property is located at 5505 N Habana Ave 2505 Violet St 4827 Melton Ave Tampa, FL.
    What is the asking price?
    The asking price for this property is $13,000,000.
    What are key features of this property?
    This property features: 5.83% Takeover Cap Rate with Adjusted Taxes, with a clear path to 7.15%+ year 2 cap rate.; Prime Value‑Add Opportunity: Rents are currently below market, with a clear path to increasing rents to the comp set average of $1,500+.; Recent Capital Improvements: Includes two of three new roofs, all‑new HVAC systems, stainless‑steel appliances, and light interior renovations.
    (813) 695-3765
    We can help!
    Listing Contact
    Mark Savarese
    Real Estate License ID: FL #SL3424810
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    5505 N Habana Ave, 2505 Violet St, 4827 Melton Ave | Tampa, FL 33614
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