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Bay Point Apartments

Bay Point Apartments

Price: $ Market Bid

Total Number of Units: 112

Address: 11431 Cockle Drive, Port Richey, FL 34668, USA

  • $205,357 (41%) potential increase in end of year one Net Operating Income
  • $126,672 in-place loss-to-lease

Opportunity to execute value-add business strategy:

  • Add washer/dryer connections in the remaining 15 units 
  • Add washer/dryer appliances in 112 units
  • Finish in-place flooring premium package 
  • Reface kitchen cabinets and update lighting package
  • Potential to add dog park or community pool on low-density parcel
  • Potential to build additional units
  • Low-density parcel of 9.82 +/- units per acre

Call for Offers: Thursday, November 29 by 5:30 pm EST

Lead Agent(s): Cameron S. Barbas

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LandSouth Florida Portfolio

LandSouth Florida Portfolio

Price: $ Market Bid

Total Number of Units: 533

Address: 2301 Old Bainbridge Rd, Tallahassee, FL, USA

  • Thirteen property (533-unit) multifamily portfolio located in Tallahassee, FL
  • Opportunity to realize efficiencies by providing residents with optionality regarding location and competitive rent structures
  • Ability for a new investor to tailor and upgrade the under-utilized clubhouses and amenity spaces
  • A significant upside for a new investor to add additional units by redeveloping existing vacant buildings and green spaces across the portfolio
  • Tallahassee, FL has a projected 10-year future job growth of 33.4%, stemming from the numerous redevelopment initiatives occurring across the city

Nearby Economic Drivers & Attractions

  • Centre of Tallahassee: a mixed-use redevelopment of the existing mall into a retail, dining, art, culture, and entertainment hub inclusive of an urban food hall and covered amphitheater
  • Frenchtown Gateway Development: $70-million project that is expected to create over 1,400 construction and permanent jobs
  • Cascades Development: $500-million+ project that will further expand Downtown Tallahassee’s footprint, inclusive of retail, class-A office space, a hotel, condos, and apartments
  • Cascades Park: a recently completed park that will act as the front doorstep to the Cascades Development upon its completion. Cascades Park is home to a large outdoor amphitheater
  • Railroad Square Art Park: an eclectic attraction that is home to Proof Brewery, multiple art shops, boutique clothiers, and small cafes located adjacent to Conklin Commons and minutes away from Providence Pointe
  • Downtown Tallahassee: home to the State Capitol of Florida and over thirty state agency headquarters (20,000+ employees)
  • Florida State University: tier I university with an enrollment of 41,368 and 14,079 employees
  • Florida A&M University: top 10 rated HBCU institution in the United States with an enrollment of 9,913 and a faculty base of 675
  • Tallahassee Community College: a two-year educational institution with an enrollment of 24,639 and 1,579 employees

>>View Deal Portal Here<<

Properties can be sold in various combinations based on each individual buyer’s preference. Please contact listing agents for more information.

Benjamin N. Skinner / (813) 387-4778 / Benjamin.Skinner@marcusmillichap.com

Matthew W. Prozzillo / (813) 387-4818 / Matthew.Prozzillo@marcusmillichap.com

 

Call for Offers: Thursday, December 6th by 5:30 pm EST

Lead Agent(s): Benjamin N. Skinner and Matthew W. Prozzillo

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