7903 Holly Lea Ct Tampa, FL 33617
- Commercial real estate
Current Use by Public Records
- Puritan Place Apartment Homes / Apartment Complex / Apartment Building
- Puritan Tampa Llc / Apartment Building
Property Details for 7903 Holly Lea Ct
- Property type
- Commercial real estate
Description
This 224-unit apartment building in Tampa, Florida presents a compelling value-add investment opportunity. Located in a dynamic submarket with high barriers to entry and limited new competing supply, the property boasts a strong projected rent growth of 4.45% in 2025 and 4.85% over the next five years (per AxioMetrics). Its prime infill location, within nine minutes of Busch Gardens Tampa Bay and sixteen minutes from Downtown Tampa, ensures high occupancy potential. The property features a mix of one, two, and three-bedroom floor plans. Significant value-add potential exists through the addition of washer/dryer connections and appliances to most units, capitalizing on a substantial loss-to-lease of over $38,000 (41% below market rent). One building was completely renovated in 2023, already commanding premium rents. 197 units have been updated, with further improvement opportunities through upgrades like tile backsplashes and vinyl flooring. Additional income streams can be generated through implementing a valet trash program and converting to a Ratio Utility Billing System (RUBS) to reduce water/sewer expenses. Recent property improvements include a seal coat and parking lot restripe (2022). This property offers a unique blend of immediate cash flow and significant long-term upside. The property is located at 7903 Holly Lea Ct, Tampa, FL 33617.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tampa
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.402873
- Latitude
- 28.0191978