RECENTLY CLOSED TRANSACTIONS
The Anderson
Address: 424 2nd St N, St. Petersburg FL 33701
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Sales Price: $1,720,000
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Investment Highlights
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Part of a Two Property Portfolio Closing adjacent to Park Plaza
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Prime Location in Downtown St. Petersburg in DC-2, Downtown Core Zoning which Allows for Intense Residential Development with a Mixture of Potential Uses
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All Units are Completely Furnished
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Within 20 Minutes to St. Pete Beach Ranked #1 Beach in 2020 by TripAdvisor
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Top 20 Cities for Young Professionals by Forbes
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#2 America’s Fastest Growing Cities by Forbes
Swashbuckler Beachside Apartments
Address: 11875 Gulf Boulevard, Treasure Island, FL 33706
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Total Number of Units: 29
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Sales Price: $3,950,000
Price per Unit: $136,207
Price per Square Foot: $296.10
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Investment Highlights
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Hard Day One, Non-Refundable Earnest Money
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Buyer was in a 1031 Exchange
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Well Constructed Asset Built within 1949 through 1954
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Property Boasts Transient Business License to Allow Short-Term/Daily Rentals Including AirBnB, but Will Be Converted to Multifamily
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Flexibility within Business Plan to Operate for Short-Term or Long-Term Rentals
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Excellent Frontage on Gulf Boulevard Directly Across from Beach Access
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Treasure Island is adjacent to St. Pete Beach #1 Nationally Ranked Beach by Trip Advisor in 2020
Address: 4071 76th Avenue, Pinellas Park, FL 33781
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Total Number of Units: 44
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Sales Price: $5,700,001
Investment Highlights
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All Two-Bedroom/One-Bathroom Floor Plans except (1) Three-Bedroom/One-Bathroom Floor Plan Adjacent to Leasing Office
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Constructed of Concrete Block in 1982
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Units are Individually Metered for Water leading to a Lean Total Expense Load
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Kitchen Cabinets Replaced in 100% of the Units
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Outstanding Demographics
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Walking Distance to the Shoppes at Park Place
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Park Blvd – major bay to beaches commercial corridor: 56,000+ cars daily
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Just a Ten Minute Drive to Major Gateway Area and Carillon Business Park Employers
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Centrally Located with a Short Commute to the Nationally Ranked Beaches, Employment Centers and Various Medical Centers in Pinellas County
Sun Island Beachside Apartments
Address: 8301 Blind Pass Road, St. Pete Beach, FL 33706
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Total Number of Units: 12
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Sales Price: $1,500,000
Price per Square Foot: $337.08
Investment Highlights
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Acquisition was a Product of a 1031 Exchange
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Buyer's Earnest Money was Non-Refundable Day 1
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Buyer Paid All Cash at the Time of the Sale
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Significant Capital Improvements within the Last 36 Months
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New Vinyl Plan Flooring Throughout
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New Granite Countertops
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New Appliance Package
Address: 2502 West Kansas Avenue, South Tampa, FL 33629
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Sales Price: $1,100,000
Price per Unit: $275,000
Transaction Highlights
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Buyer Closed in 30 Days
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Offering Included Adjacent Vacant Land for Redevelopment
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Prime A++ Location in the Heart of South Tampa Blocks off Bayshore Boulevard
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Redevelopment Opportunity with Vacant Lot
One Premium Upgraded Floor Plan with Washer/Dryer Appliance in the Unit -
Ability to Renovate Remaining Three Floor Plans
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Excellent Walkability/Bikeability
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#1 City In The U.S. That Americans Are Moving (Forbes Magazine)​
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Greenhouse Inn
Address: 220 5th Avenue North, St. Petersburg, FL 33701
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Total Number of Units: 23
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Sale Price: $1,500,000
Price per Unit: $65,217
Price per Square Foot: $170.28
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Investment Highlights
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Buyer assumed the In-Place Debt
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Principal Balance: $941,708
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Interest Rate at Time of Sale: 5.19%
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Amortization: 25 Years
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Term : 7 Years
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Contract to Close within 28 Calendar Days
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Transaction Closed at Original Contract Price
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DC-2, Downtown Core Zoning which Allows for Intense Residential Development with a Mixture of Potential Uses
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Property Boasts a Hotel License for Flexibility in Business Plan
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All Units are Completely Furnished
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Prime Location in Downtown St. Petersburg with Excellent Walkability
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Tallahassee Portfolio
Address: 2125 Jackson Bluff Road, Tallahassee, FL 32304
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Total Number of Units: 195
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Sale Price: $13,075,000
Price per Unit: $67,051
Price per Square Foot: $84.33
Investment Highlights
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Opportunity to Acquire Critical Mass in Tallahassee
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$90,515 of Readily Attainable Upside in Loss-to-Lease and Utility Reimbursement
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Tremendous Value Add Opportunity with Ability to Capitalize on Interior Upgrade Program already Established by Current Ownership
Clearwater Largo Portfolio
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Sale Price: $3,150,000
Price per Unit: $75,000
Price per Square Foot: $108.44
Investment Highlights
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Buyer Paid All Cash at the Time of the Sale
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Property Had Six Vacant Units around the Time of The Closing
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Constructed of Concrete Block in 1972
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Diversified Unit Mix Comprised of One-Bedrooms, Two-Bedrooms, and Three-Bedroom Floor Plans
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Centrally Located with a Short Commute to the Clearwater Beach, the Number One Beach in the Nation according to Trip Advisor
Seminole Village
Address: 7770 Starkey Road, Seminole, FL 33777
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Total Number of Units: 56
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Sale Price: $4,350,000
Price per Unit: $77,638
Price per Square Foot: $77.79
Investment Highlights
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Buyer Paid All Cash at the Time of the Sale
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Property Had Ten Vacant Units around the Time of The Closing
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Constructed of Concrete Block in 1984
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100% Two-Bedroom/One-Bathroom Floor Plans
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Spacious Units with an Average of 1,000 Rentable Square Feet
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Units are Sub-Metered for Water
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Centrally Located with a Short Commute to the Nationally Renowned Beaches, Employment Centers and Various Medical Centers in Pinellas County
2904 West Bay to Bay Boulevard
Address: 2904 West Bay to Bay Boulevard, Tampa, FL
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Product Type: Office/Multifamily Redevelopment
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Sales Price: $900,000
Investment Highlights
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Excellent Location off Bay to Bay and Bayshore Boulevard
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Ability to Keep Existing Property Use with 8 Private Offices, Break Room/Kitchen, Conference Room and Restrooms on Both Floors
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Excellent Ingress/Egress with Close Proximity to Bayshore Boulevard and the Lee Roy Selmon Expressway Currently Undergoing Expansion on Gandy Boulevard
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Minutes from Hyde Park and Most Desirable Retail/Dining of South Tampa
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New Developments Immediately Surrounding the Property Including the Aquatic Condo Development
Villager Apartments
Address: 314 7th Avenue Northeast, Ruskin, FL 33570
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Total Number of Units: 15
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Sales Price: $900,000
Price per Unit: $67,051
Price per Square Foot: $95.24
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Investment Highlights
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Constructed of Concrete Block
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3.40 +/- Acres with the Ability to Build Additional Units on Vacant Land
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Unit Mix Comprised of One-Bedrooms and Spacious Two-Bedroom/One-Bathroom Floor Plans with 1,500 Rentable Square Feet including a Private Backyard
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Located in Close Proximity of Amazon Fulfillment Center
The Park at Ravenna
Address: 6919 Bonair Drive, Tampa, FL 33617
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Total Number of Units: 300
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Sales Price: $28,760,000
Price per Unit: $95,867
Price per Square Foot: $118.38
Investment Highlights
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300-unit multifamily community constructed of concrete block, located in Tampa, FL
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3.2 million in capital expenditures since 2016
Summit Portfolio (Student Housing)
Address: 600 Eugenia St & 410 W Van Buren St, Tallahassee, FL
Total Number of Units: 108
Total Number of Beds: 216
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Sales Price: $13,700,000
Price per Unit: $126,851.85
Price per Bed: $63,425.93
Investment Highlights
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Debt Assumption
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$153.42 Per Square Foot
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Two-property portfolio built in 2002
Prospect Towers
Address: 801 Chestnut Street, Clearwater, FL
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Total Number of Units: 208
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Sales Price: $13,500,000
Price per Unit: $64,904
Price per Square Foot: $140.79
Investment Highlights
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Iconic 17-Story Tower Asset
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33% average effective rent growth since 2016
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Significant capital improvements made in last five years
Hudson Estates
Address: 15902 Homewood Lane, Hudson, FL 34667
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Total Number of Units: 52
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Sales Price: $3,300,000
Price per Unit: $63,462
Price per Square Foot: $67.93
Investment Highlights
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100% Project-Based Section 8 Rent Subsidy Contract
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Located in a Qualified (130% basis) Census Tract for Low Income Housing Tax Credit Rehabilitation; located in a qualified Opportunity Zone (OZ) as designated by the US Treasury Department
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Constructed in 1983 and Comprised of One, Two, Three and Four Bedroom Floor Plans
Harmony House Apartments
Address: 7025 3rd Street North, St. Petersburg, FL
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Total Number of Units: 16
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Sales Price: $1,475,000
Price per Unit: $92,188
Price per Square Foot: $110.44
Cap Rate: 2.53%
Investment Highlights
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Prime Location off 4th Street in St. Petersburg with Privatized Superb Community Feel
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100% Two-Bedroom Floor Plans and Sub-Metered for Water
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Buyer Plans to Raise Rents Approximately $400 from the Average Effective Rent in the Community
Continental Park Apartments
Address: 2393 Continental Avenue, Tallahassee, FL
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Total Number of Units: 24
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Sales Price: $1,810,000
Price per Unit: $75,417
Price per Square Foot: $75.42
Investment Highlights
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Built in 1988 and Boasting an Excellent Unit Mix Comprised of All Two-Bedroom Floor Plans
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Buyer Secured Attractive Agency Financing
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Opportunity for In Excess of $100 Rental Premiums through Interior Upgrades
Avesta Heritage Cove
Address: 7402 Heritage Hills Drive, Temple Terrace, FL
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Total Number of Units: 90
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Sales Price: $8,450,000
Price per Unit: $93,889
Price per Square Foot: $110.46
Investment Highlights
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Constructed of Concrete Block in 1983
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All Two-Bedroom/One-Bathroom Floor Plans
Arbor Crest
Address: 62 Cleveland Street North
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Total Number of Units: 120
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Sales Price: $5,100,000
Price per Unit: $42,500
Price per Square Foot: $45.32
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Investment Highlights
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Section 42 Low Income Housing Tax Credit (LIHTC) Property
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Roofs resealed in 2018
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50 Year Extended Low-Income Housing Agreement (ELIHA) Ending in 2056
Aqua Links
Address: 2450 Hartwell Avenue, Sanford, FL 32771
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Total Number of Units: 140
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Sales Price: $12,100,000
Price per Unit: $86,429
Price per Square Foot: $104.69
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Year Built: 1991
Stoneridge Pointe
Address: 1505 West 25th Street, Sanford, FL 32771
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Total Number of Units: 120
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Sales Price: $6,000,000
Price per Unit: $50,000
Price per Square Foot: $58.09
Year Built: 1973/1975
Pensacola Station
Address: 103 Cactus Street, Tallahassee, FL 32304
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Total Number of Units: 24
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Sales Price: $1,499,000
Price per Unit: $62,458
Price per Square Foot: $78.89
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Investment Highlights
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Constructed in 1994 and Completely Renovated in 2012
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Close Proximity to Tallahassee Community College
Tropic Aire Apartments
Address: 135 8th Avenue Northeast, St. Petersburg, FL 33701
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Total Number of Units: 16
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Sales Price: $1,800,000
Price per Unit: $112,500
Price per Square Foot: $250
Investment Highlights
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Unit Mix Comprised of 100% Studio Floor Plans
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Close Proximity to Downtown St. Petersburg and Beach Drive
Tampa Bay Portfolio
Address: 1105 East Bird Street, Tampa, FL
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Total Number of Units: 21
Sales Price: $1,150,000
Investment Highlights
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Six Property Portfolio Comprised of Assets in Tampa and St. Petersburg
2nd Street Suites
Downtown St. Petersburg
​Total Number of Units: 19
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Sales Price Highlight: $221.15 per Sq. Ft.
Investment Highlights
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Excellent Location in Downtown St. Petersburg
Brandychase Condominiums
Address: South Tampa
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Total Number of Units: 34
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Transaction Highlights
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Owned under Existing Ownership for Approximately 40 Years
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Transaction Closed within 30 Days
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Constructed in 1981 of Concrete Block
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Well Poised in an Excellent South Tampa Location with Immediate Room for Rental Improvement
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On-site Amenity Package Superior to Immediate Competitive Properties
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