RECENTLY CLOSED TRANSACTIONS

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The Anderson

Address: 424 2nd St N, St. Petersburg FL 33701

Sales Price: $1,720,000

Investment Highlights

  • Part of a Two Property Portfolio Closing adjacent to Park Plaza 

  • Prime Location in Downtown St. Petersburg in DC-2, Downtown Core Zoning which Allows for Intense Residential Development with a Mixture of Potential Uses

  • All Units are Completely Furnished

  • Within 20 Minutes to St. Pete Beach Ranked #1 Beach in 2020 by TripAdvisor

  • Top 20 Cities for Young Professionals by Forbes

  • #2 America’s Fastest Growing Cities by Forbes

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Swashbuckler Beachside Apartments

Address: 11875 Gulf Boulevard, Treasure Island, FL 33706

Total Number of Units: 29

Sales Price: $3,950,000

Price per Unit: $136,207

Price per Square Foot: $296.10

Investment Highlights

  • Hard Day One, Non-Refundable Earnest Money

  • Buyer was in a 1031 Exchange

  • Well Constructed Asset Built within 1949 through 1954

  • Property Boasts Transient Business License to Allow Short-Term/Daily Rentals Including AirBnB, but Will Be Converted to Multifamily

  • Flexibility within Business Plan to Operate for Short-Term or Long-Term Rentals

  • Excellent Frontage on Gulf Boulevard Directly Across from Beach Access

  • Treasure Island is adjacent to St. Pete Beach #1 Nationally Ranked Beach by Trip Advisor in 2020

 
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Carolwood Apartments 

Address: 4071 76th Avenue, Pinellas Park, FL 33781

Total Number of Units: 44

Sales Price: $5,700,001

Investment Highlights

  • All Two-Bedroom/One-Bathroom Floor Plans except (1) Three-Bedroom/One-Bathroom Floor Plan Adjacent to Leasing Office

  • Constructed of Concrete Block in 1982

  • Units are Individually Metered for Water leading to a Lean Total Expense Load

  • Kitchen Cabinets Replaced in 100% of the Units

  • Outstanding Demographics

  • Walking Distance to the  Shoppes at Park Place

  • Park Blvd – major bay to beaches commercial corridor: 56,000+ cars daily

  • Just a Ten Minute Drive to  Major Gateway Area and Carillon Business Park  Employers

  • Centrally Located with a Short Commute to the Nationally Ranked Beaches, Employment Centers and Various Medical Centers in Pinellas County

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Sun Island Beachside Apartments 

Address: 8301 Blind Pass Road, St. Pete Beach, FL 33706

Total Number of Units: 12

Sales Price: $1,500,000

Price per Square Foot: $337.08

Investment Highlights

  • Acquisition was a Product of a 1031 Exchange

  • Buyer's Earnest Money was Non-Refundable Day 1

  • Buyer Paid All Cash at the Time of the Sale

  • Significant Capital Improvements within the Last 36 Months

  • New Vinyl Plan Flooring Throughout

  • New Granite Countertops

  • New Appliance Package

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Address: 2502 West Kansas Avenue, South Tampa, FL 33629

Sales Price: $1,100,000

Price per Unit: $275,000

Transaction Highlights

  • Buyer Closed in 30 Days

  • Offering Included Adjacent Vacant Land for Redevelopment

  • Prime A++ Location in the Heart of South Tampa Blocks off Bayshore Boulevard

  • Redevelopment Opportunity with Vacant Lot
    One Premium Upgraded Floor Plan with Washer/Dryer Appliance in the Unit

  • Ability to Renovate Remaining Three Floor Plans

  • Excellent Walkability/Bikeability

  • #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

Total Number of Units: 23

Sale Price: $1,500,000

Price per Unit: $65,217

Price per Square Foot: $170.28

Investment Highlights

  • Buyer assumed the In-Place Debt

    • Principal Balance: $941,708

    • Interest Rate at Time of Sale: 5.19% 

    • Amortization: 25 Years

    • Term : 7 Years

  • Contract to Close within 28 Calendar Days

  • Transaction Closed at Original Contract Price

  • DC-2, Downtown Core Zoning which Allows for Intense Residential Development with a Mixture of Potential Uses

  • Property Boasts a Hotel License for Flexibility in Business Plan

  • All Units are Completely Furnished

  • Prime Location in Downtown St. Petersburg with Excellent Walkability

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Tallahassee Portfolio

Address: 2125 Jackson Bluff Road, Tallahassee, FL 32304

Total Number of Units: 195

Sale Price: $13,075,000

Price per Unit: $67,051

Price per Square Foot: $84.33

Investment Highlights

  • Opportunity to Acquire Critical Mass in Tallahassee

  • $90,515 of Readily Attainable Upside in Loss-to-Lease and Utility Reimbursement

  • Tremendous Value Add Opportunity with Ability to Capitalize on Interior Upgrade Program already Established by Current Ownership

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Clearwater Largo Portfolio

Sale Price: $3,150,000

Price per Unit: $75,000

Price per Square Foot: $108.44

Investment Highlights

  • Buyer Paid All Cash at the Time of the Sale

  • Property Had Six Vacant Units around the Time of The Closing

  • Constructed of Concrete Block in 1972

  • Diversified Unit Mix Comprised of One-Bedrooms, Two-Bedrooms, and Three-Bedroom Floor Plans

  • Centrally Located with a Short Commute to the Clearwater Beach, the Number One Beach in the Nation according to Trip Advisor

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Seminole Village 

Address: 7770 Starkey Road, Seminole, FL 33777

Total Number of Units: 56

Sale Price: $4,350,000

Price per Unit: $77,638

Price per Square Foot: $77.79

Investment Highlights

  • Buyer Paid All Cash at the Time of the Sale

  • Property Had Ten Vacant Units around the Time of The Closing

  • Constructed of Concrete Block in 1984

  • 100% Two-Bedroom/One-Bathroom Floor Plans

  • Spacious Units with an Average of 1,000 Rentable Square Feet

  • Units are Sub-Metered for Water

  • Centrally Located with a Short Commute to the Nationally Renowned Beaches, Employment Centers and Various Medical Centers in Pinellas County

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2904 West Bay to Bay Boulevard

Address: 2904 West Bay to Bay Boulevard, Tampa, FL 

Product Type: Office/Multifamily Redevelopment

Sales Price: $900,000

Investment Highlights

  • Excellent Location off Bay to Bay and Bayshore Boulevard

  • Ability to Keep Existing Property Use with 8 Private Offices, Break Room/Kitchen, Conference Room and Restrooms on Both Floors

  • Excellent Ingress/Egress with Close Proximity to Bayshore Boulevard and the Lee Roy Selmon Expressway Currently Undergoing Expansion on Gandy Boulevard

  • Minutes from Hyde Park and Most Desirable Retail/Dining of South Tampa

  • New Developments Immediately Surrounding the Property Including the Aquatic Condo Development

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Villager Apartments

Address: 314 7th Avenue Northeast, Ruskin, FL 33570

Total Number of Units: 15

Sales Price: $900,000

Price per Unit: $67,051

Price per Square Foot: $95.24

Investment Highlights

  • Constructed of Concrete Block

  • 3.40 +/- Acres with the Ability to Build Additional Units on Vacant Land

  • Unit Mix Comprised of One-Bedrooms and Spacious Two-Bedroom/One-Bathroom Floor Plans with 1,500 Rentable Square Feet including a Private Backyard

  • Located in Close Proximity of Amazon Fulfillment Center

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The Park at Ravenna

Address: 6919 Bonair Drive, Tampa, FL 33617

Total Number of Units: 300

Sales Price: $28,760,000

Price per Unit: $95,867

Price per Square Foot: $118.38

Investment Highlights

  • 300-unit multifamily community constructed of concrete block, located in Tampa, FL

  • 3.2 million in capital expenditures since 2016

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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

Sales Price: $13,700,000

Price per Unit: $126,851.85

Price per Bed: $63,425.93

Investment Highlights

  • Debt Assumption

  • $153.42 Per Square Foot

  • Two-property portfolio built in 2002

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Prospect Towers

Address: 801 Chestnut Street, Clearwater, FL

Total Number of Units: 208

Sales Price: $13,500,000

Price per Unit: $64,904

Price per Square Foot: $140.79

Investment Highlights

  • Iconic 17-Story Tower Asset

  • 33% average effective rent growth since 2016

  • Significant capital improvements made in last five years

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Hudson Estates

Address: 15902 Homewood Lane, Hudson, FL 34667 

Total Number of Units: 52

Sales Price: $3,300,000

Price per Unit: $63,462

Price per Square Foot: $67.93

Investment Highlights

  • 100% Project-Based Section 8 Rent Subsidy Contract

  • 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

  • Constructed in 1983 and Comprised of One, Two, Three and Four Bedroom Floor Plans

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Harmony House Apartments

Address: 7025 3rd Street North, St. Petersburg, FL 

Total Number of Units: 16

Sales Price: $1,475,000

Price per Unit: $92,188

Price per Square Foot: $110.44

Cap Rate: 2.53% 

Investment Highlights

  • Prime Location off 4th Street in St. Petersburg with Privatized Superb Community Feel

  • 100% Two-Bedroom Floor Plans and Sub-Metered for Water

  • Buyer Plans to Raise Rents Approximately $400 from the Average Effective Rent in the Community

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Continental Park Apartments

Address: 2393 Continental Avenue, Tallahassee, FL 

Total Number of Units: 24

Sales Price: $1,810,000

Price per Unit: $75,417

Price per Square Foot: $75.42

Investment Highlights

  • Built in 1988 and Boasting an Excellent Unit Mix Comprised of All Two-Bedroom Floor Plans

  • Buyer Secured Attractive Agency Financing

  • Opportunity for In Excess of $100 Rental Premiums through Interior Upgrades

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Avesta Heritage Cove

Address: 7402 Heritage Hills Drive, Temple Terrace, FL

Total Number of Units: 90

Sales Price: $8,450,000

Price per Unit: $93,889

Price per Square Foot: $110.46

Investment Highlights

  • Constructed of Concrete Block in 1983

  • All Two-Bedroom/One-Bathroom Floor Plans

Arbor Crest 

Address: 62 Cleveland Street North 

Total Number of Units: 120

Sales Price: $5,100,000

Price per Unit: $42,500

Price per Square Foot: $45.32

Investment Highlights

  • Section 42 Low Income Housing Tax Credit (LIHTC) Property

  • Roofs resealed in 2018

  • 50 Year Extended Low-Income Housing Agreement (ELIHA) Ending in 2056

Aqua Links 

Address: 2450 Hartwell Avenue, Sanford, FL 32771

Total Number of Units: 140

Sales Price: $12,100,000

Price per Unit: $86,429

Price per Square Foot: $104.69

Year Built: 1991

Stoneridge Pointe

Address: 1505 West 25th Street, Sanford, FL 32771

Total Number of Units: 120

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 

Total Number of Units: 24

Sales Price: $1,499,000

Price per Unit: $62,458

Price per Square Foot: $78.89

Investment Highlights

  • Constructed in 1994 and Completely Renovated in 2012

  • Close Proximity to Tallahassee Community College

Tropic Aire Apartments

Address: 135 8th Avenue Northeast, St. Petersburg, FL 33701

Total Number of Units: 16

Sales Price: $1,800,000

Price per Unit: $112,500

Price per Square Foot: $250

Investment Highlights

  • Unit Mix Comprised of 100% Studio Floor Plans

  • Close Proximity to Downtown St. Petersburg and Beach Drive

Tampa Bay Portfolio

Address: 1105 East Bird Street, Tampa, FL 

Total Number of Units: 21

Sales Price: $1,150,000

Investment Highlights

  • Six Property Portfolio Comprised of Assets in Tampa and St. Petersburg

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2nd Street Suites

Downtown St. Petersburg

Total Number of Units: 19

Sales Price Highlight: $221.15 per Sq. Ft.

Investment Highlights

  • Excellent Location in Downtown St. Petersburg

Brandychase Condominiums

Address: South Tampa

Total Number of Units: 34

Transaction Highlights

  • Owned under Existing Ownership for Approximately 40 Years

  • Transaction Closed within 30 Days

  • Constructed in 1981 of Concrete Block

  • Well Poised in an Excellent South Tampa Location with Immediate Room for Rental Improvement

  • On-site Amenity Package Superior to Immediate Competitive Properties