902 Annie St Tampa, FL 33612

This 36-unit apartment building in Tampa, Florida, presents a compelling value-add investment opportunity. Built in 1983, the two-story, 29,416 square foot concrete block structure sits on a 1.01-acre lot at 902 E Annie St, 33612. All 36 units are two-bedroom apartments, each featuring washer/dryer connections, central HVAC, and individually metered water and sewer. Recent interior upgrades include shaker-style cabinets, vinyl plank flooring, stainless steel appliances, and contemporary fixtures. The property boasts strong cash flow with a 6.5% takeover cap rate (including adjusted taxes and insurance). Significant value-add potential exists through exterior improvements such as landscaping, lighting, and a refreshed paint scheme. Its location, ten minutes north of downtown Tampa, offers proximity to major employers like the University of South Florida and Busch Gardens, and benefits from the ongoing $1 billion Rithm at Uptown redevelopment project. The seller is also considering offers that include an adjacent three-bedroom, two-bathroom single-family rental, potentially usable as a manager's unit or generating additional rental income of $2,100+ per month. This property offers substantial upside potential in a high-demand area.