Multifamily Portfolio in Central
5505 N Habana Ave 2505 Violet St 4827 Melton Ave Tampa, FL 33614
5505 N Habana Ave 2505 Violet St 4827 Melton Ave, Tampa, FL, 33614
$13,000,000
For Sale
$13,000,000
Three-property multifamily portfolio with value-add opportunity in central Tampa.
Days on Market109
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
Listing Agency
(813) 577-3837
Listed by
Mark Savarese · License #FL #SL3424810
Source
Franklinst
Added: Apr 1 Checked: Jul 10 at 1:15 pm
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
Investment Insights
Based on property information with market context.
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+.
Key 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.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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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.
