Tampa Multi Family Conditions & Trading Cap Rates

[Victor Zeytin]

Hi everyone, I’m interested in the Tampa market, specifically North Tampa. I was wondering what the current market conditions are in this market, what ranges of cap rates are currently traded and as much information as I can possibly get. It seems like central and northern Tampa are almost completely detached from the south side of the dirty. The rents are much lower, and it doesn’t seem to be as strong in terms of appreciation potential etc. 

any information appreciated.

[Dakota Brown]

@Victor Zeytin Historically, you can see a corridor of increased investment demand headed from downtown Tampa moving north. With this being said, there is a ton of demand throughout the general Tampa region, especially North Tampa, and I have not see anything sell at above a 4 cap in awhile. Most acquisitions are with bridge loans due to aggressive purchase prices. Rents have skyrocketed.