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These are the type of properties America 2030™ seeks to purchase as syndicated investments.
None of the properties on this page were purchased, sold, brokered or otherwise controlled, managed or owned by America 2030™, nor does America 2030™ make any representation that buildings such as these could be purchased for the benefit of a syndication partner.
228-Unit Class A Garden Style Multifamily Community - Tampa, Florida
228-Unit, Garden-Style Community – Tampa, Florida
Project Overview: Sample Property A was built in 1999 and is a 228-unit, garden-style apartment community situated on 19.5acres in Riverview, Florida. The property consists of eight two-and three-story residential buildings with attractive stucco exteriors and asphalt shingle roofs. The property offers a diverse unit mix with studio, one, two, and three bedroom floor plans with an average size of 999 square feet.
| Individual Units Feature: |
Community Amenities: |
- Spacious floor plan
- Full size washer/dr
- Ceramic tile in kitc
- Fireplace
- Intrusion alarm
- Balcony/patio
- Walk-in closets
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- Resort-style pool
- Spa
- Cubhouse
- State-of-the-art fitness center
- Executive business center
- 48 garages with remote
- Poolside wireless internet access
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| Unit Type |
Number of Units |
% of Total |
Unit Size (SF) |
Total SF |
Avg. Mkt. Rent |
| 1 Bedroom / 1 Bath – Pine |
48 |
21% |
882 |
39,456 |
$797 |
| 1 Bedroom / 1 Bath - Maple |
20 |
9% |
867 |
17,340 |
$859 |
| 1 Bedroom / 1 Bath - Elm |
24 |
11% |
876 |
21,024 |
$879 |
| 2 Bedroom / 2 bath – Palm |
60 |
26% |
1,042 |
62,520 |
$930 |
| 2 Bedroom / 2 Bath – Hickory |
60 |
26% |
1,118 |
67,080 |
$964 |
| 3 Bedroom / 2 Bath - Redwood |
16 |
7% |
1,267 |
20,272 |
$1,201 |
| Total/Avg. |
228 |
100% |
999 |
227,692 |
$918 |
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Project Location:
The apartment community is located in Riverview, FL,which is the submarket of Tampa, FL, with a total population of 2,765,528.
The population within a one-mile radius of Sample Property A has nearly doubled since 2000, increasing from 2,251 to 4,359.
Sample Property A is centrally located within minutes of Interstate 75 and the Lee Roy Selmon Crosstown Expressway, allowing for easy access to downtown Tampa.
Westfield Brandon, one of Florida’s largest malls with nearly one-million square fee of retail and restaurant space is within five miles of Sample Property A.
Property Purchase Price: $20,000,000
Potential Equity Investment: $9,200,000
Investment Analysis Summary:
- Institutional Quality Asset.
Sample Property A is a class “A” multifamily apartment complex located in a stable rental market in Riverview, FL, a submarket of Tampa, FL. The
average apartment unit size and monthly rental income is currently 999 square feet and $918, respectively.
- Competition.
The Tampa rental market remains relatively strong with a 92% average occupancy rate and rental rates per square foot of $0.95.
Sample Property A has an occupancy and rental rate of 86% and $0.88, respectively.
Given the Tampa market comparables, Sample Property A is performing below comparable properties, which shows signs of increased profitability once market rents and occupancy are obtained.
- Strong Demographics.
US Census figures report that Hillsborough County’s population grew by 16.4% from 2000 to 2007, outpacing the State of Florida’s 14.9% increase.
The population of Tampa is projected to reach over three million people by 2012 and the number of households is expected to grow to over 1.2 million.
The employment rate has been consistently higher than state and national levels.
The current employment rate is 95.7%.
These are the type of properties America 2030™ seeks to purchase as syndicated investments. None of the properties on this page were purchased, sold, brokered or otherwise controlled, managed or owned by America 2030™, nor does America 2030™ make any representation that buildings such as these could be purchased by the fund.
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