Renting Out an Apartment in Florida

[Roschelle McCoy]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Temple Terrace Townhomes and Terrace Hill Apartments is a 40-unit multifamily property located in Tampa, FL. This property has a value-add opportunity to put professional management in place, improve the curb appeal and interiors to drive rents up to market prices while providing solid returns for the investors.The unit mix is balanced with 2 x 1’s and 1 x 1’s. Located close to two theme parks allows for creative rent strategies and multiple exit options. The Tampa market has strong population growth and migration into the area that is incongruent to the number of available housing units, leading to rental growth well above the national average. See the renovation progress here.