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| PORTFOLIO - STERLING LAKES| Tampa, FL |
| 1302 Coopers Town Court |
| Tampa, FL 33613 |
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| Purchase Price |
$10,900,000 |
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| Cap Rate |
9.56% |
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| Property Type |
Residential |
| Rentable Square Feet |
181,872 |
| Price per RSF |
$59.93 |
| Number of Tenants |
212 |
| | | Property Description |
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Sterling Lakes is a 212 apartment community that was built in 1987, wood and stucco construction.
The property is a part of an 8 projects apartment portfolio sold by the same owner, all stabilized at 95% occupancy, all b and c prioperties in Tampa and Orlando area.
It is located less than two miles from the main campus of the University of South Florida. USF is a strong economic force within the submarket. The University submarket has very high occupancy rates and the strongest rent growth of any submarket in the Tampa metropolitan area.
Assumable Debt - Buyer may assume a $4.0 million loan maturing April 1, 2023 at 7.18% with 30-year amortization or use his own financing. |
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| Presented To You By |
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Sean Glickman, CIPS TRC CSP
561-488-7766
seanglickman@gmail.com
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STIRLING SOTHEBY'S
INTERNATIONAL REALTY |
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The information above has been obtained from sources believed reliable. While
we do not doubt its accuracy we
have not verified it and make no guarantee, warranty or representation about
it. It is your responsibility to independently confirm its accuracy and
completeness. Any projections, opinions, assumptions, or estimates used are for
example only and do not represent the current or future performance of the
property.
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