Listings

Filter Listings by Type:   

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

Lead Agent(s): Cameron S. Barbas

View Property

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

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

View Property

The Summit Portfolio

The Summit Portfolio

Price: $ Market Bid

Total Number of Units: 108 Units/216 Beds

Address: 600 Eugenia Street, Tallahassee, FL, USA

  • 216 student housing beds located just 0.4-miles from the Florida State campus
  • Two-property portfolio built in 2002
  • Ability to serve as the low-cost provider within the rapidly expanding College Town submarket
  • Significant upside available by increasing rental rates to trail the College Town average by $168/month

University Highlights:

  • 41,368 total enrollment (32,929 undergraduate)
  • Florida State University recently made a significant jump in the national public-school rankings, moving all the up to the 26th best public university in the United States
  • Legacy Hall, Florida State’s Future College of Business is set to open in the Arena Development District, which is located just 0.4-miles from the Summit Portfolio
  • Florida State University saw a record number of enrollment applications for the 2018/19 academic year
  • Jim Moran College of Entrepreneurship was recently completed in Downtown Tallahassee

Call for Offers: Thursday, October 25th by 5:30pm EST

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

View Property

Moncler Isles

Moncler Isles

Price: $ Market Bid

Total Number of Units: 484

Address: 6158 Beacon Isles Drive, Tampa, FL 33615, USA

  • 484 unit gated multifamily community with four scenic lakes in Tampa, FL
  • Perfect value-add opportunity in a market with limited value-add properties remaining
  • $112 average effective rental spread between standard and upgraded
  • Valencia at Westchase (property directly adjacent to Moncler Isles) currently charges $415 and $543 more than the Moncler Isles standard average effective rents on 1×1 and 2×2 floor plans, respectively
  • $226 spread between average current asking rents at all competing properties and the current average effective upgraded rents at Moncler Isles 1×1 floor plans
  • $260 spread between average current asking rents at all competing properties and the current average effective upgraded rents at Moncler Isles 2×2 floor plans
  • $570,688 increase in end of year 1 effective gross income through upgrading 155 units
  • $1,554,840 increase in end of year 3 effective gross income at 100% upgraded units
  • $168,024 in-place loss-to-lease upside (currently achieving market rent in 24% of units)
  • $1,357,887 increase in end of year 3 net operating income

Call for Offers: Thursday, September 27th by 5:30pm EST

>>View Deal Portal Here<<

Lead Agent(s): Francesco P. Carriera or Michael P. Regan

View Property

The Park at Ravenna

The Park at Ravenna

Price: $ Market Bid

Total Number of Units: 300

Address: 6919 Bonair Drive, Tampa, FL 33617, USA

  • 300-unit multifamily community constructed of concrete block, located in Tampa, FL
  • 3.2 million in capital expenditures since 2016
  • $228,948 immediate upside through in-place loss-to-lease
  • Opportunity to increase rents 14% on top of the current average
  • $340,247 (21%) increase in Net Operating Income in year 1
  • Exterior renovations include revitalized landscaping, repaired common area lighting, all new roofs, repaired stairs and siding, new paint, remodeled clubhouse, energized community amenities, and a remodeled clubhouse
  • Interior renovations include new modern white cabinets, white appliances, modern vinyl flooring, new ranges, resurfaced countertops, updated lighting package, updated hardware, ceilings fans, and blinds

Call for Offers: Thursday, October 4th by 5:30pm EST

>>View Deal Portal Here<<

Lead Agent(s): Francesco P. Carriera or Michael P. Regan

View Property