Hampton Terrace

Tampa, FL

16

UNITS

1985

YEAR BUILT

0.59

ACRES

11,952

SQUARE FEET

PURCHASE PRICE

Investment Overview

Hampton Terrace is a conventional 16-unit apartment community located in the Seminole Heights District, Tampa’s original suburb just 3 miles north of downtown and 4 miles east of the Westshore Business District. The property consists of two, two-story buildings made of concrete-block construction consisting of 8 one-bedroom/one-bathroom units and 8 two-bedroom/one-bathroom units averaging 747 square feet. Most units have been renovated with vinyl plank flooring, interior paint, updated cabinets, and new appliances. Average rents of $1,049 per month or $1.40 per square foot allows an incoming owner to further maximize rents by drafting behind the newly constructed communities nearby that are averaging $2.00+ per square foot. This is one of the rare opportunities to own one of the few concrete block, well amenitized apartment communities in Seminole Heights, a highly desirable rental market that has historically achieved high occupancy levels and very little resident turnover in comparison to some of the more urban rental markets.

Hampton Terrace lies near the intersection of Hillsborough and US-41 in the core of the Seminole Heights neighborhood. Residents enjoy living in direct proximity to some of the top restaurants and craft breweries in the region including award winning establishments such as The Refinery, Rooster & the Till and Ichicoro Ramen as well as a short commute to Tampa’s largest employment centers, universities, hospitals, concert and sporting venues, shopping, nightlife, and entertainment. Hampton Terrace is conveniently located within 4-miles of 22 million square feet of office space allowing tenants a short and easy commute to and from the office. Major points of interest in close proximity to the property include I-275 (0.20 miles), I-4 (2.20 miles), Downtown Tampa (3 miles), University of South Florida (4.29 miles) and Tampa International Airport (4.75 miles).

Investment Highlights

  • Stabilized Asset
  • Concrete Block Construction
  • Central HVAC
  • Newly Renovated On-Site Laundry Facility and New Fencing
  • Ample Off-Street Parking For Tenants

Location Highlights

  • Located In Historic Seminole Heights
  • In Proximity to Major Demand Drivers and Entertainment Centers
  • Located Less than 0.2 Miles from I-275, Walkable to Shopping, Dining and Entertainment
  • Located 3.25 Miles From Downtown Tampa
  • Located 4.3 Miles From the Westshore Business District

Contact

Miles Tombrink
Director
+1 813 716 2781
miles.tombrink@colliers.com

CONFIDENTIALITY AGREEMENT

THIS CONFIDENTIALITY AGREEMENT (“Agreement”) is made and agreed to by Colliers Florida Multifamily (“Broker”), exclusive listing broker for the Property, and the undersigned Purchaser (“Purchaser”) regarding the Property herein (“Property”). The obligation of confidentiality undertaken pursuant to this Agreement shall survive the terms of the Broker’s listing agreement with the Owner(s). PURCHASER HAS REQUESTED information from Broker for the purpose of evaluating a possible acquisition of the Property. The Owner of the Property has instructed Broker to deliver information concerning the Property, much of which is highly confidential, only to those potential purchasers who sign this Agreement. THE PARTIES AGREE, in consideration of the covenants and agreements contained herein, as follows: 1. Purchaser will not disclose, permit the disclosure of, release, disseminate or transfer; any information obtained hereunder (“Information”) to any other person or entity. 2. If Purchaser is a corporation, partnership, limited liability company or other non-natural legal entity, the person(s) signing this Agreement on its behalf will take all appropriate precautions to limit the dissemination of the Information only to those persons within the entity who have need to know of the information, and who are specifically aware of the Agreement and agree to honor it. 3. This Agreement applies to all Information received from Broker, now or in the future, which is not readily available to the general public. Purchaser understands that all information shall be deemed confidential, valuable and proprietary such that its unauthorized disclosure, even without intent to harm, could cause substantial and irreparable harm to Owner and Broker. 4. All information shall be used for the sole purpose of evaluating the potential acquisition of the Property, and it shall not at any time, or in any manner, be used for any other purpose. 5. Purchaser shall not contact directly any persons concerning the Property, other than Broker, without Broker’s or Owner’s written permission. Such persons include, without limitation, Owner’s employees, suppliers and tenants. 6. Purchaser acknowledges that it is a principal and not an agent on behalf of any other party in conjunction with the purchase of the Property (except Advisors working on behalf of their pension fund clients). Purchaser acknowledges that it is not working with any other broker or agent other than The Babb Group in connection with this transaction. 7. Neither Broker nor Owner makes any representations or warranty, express or implied, as to the accuracy or completeness of any information provided by them. Purchaser assumes full and complete responsibility for reconfirmation and verification of all Information received and expressly waives all rights of recourse against Owner and Broker with respect to the same. 8. The Persons signing on behalf of Purchaser and Broker represent that they have the authority to bind the party for whom they sign. 9. This Agreement shall be governed and construed in accordance with the laws of the State of Florida. 10. No outside broker represents Purchaser. Purchaser is working with Colliers Florida Multifamily, specifically The Babb Group. Furthermore, Purchaser indemnifies Broker and owner against any commission claims by brokers on this listing or any listing by the Babb Group for the six months following the date of this agreement.