3104 W San Juan Street

Description

Miramar Flats represents one of the few truly turnkey multifamily investment opportunities in the Hyde Park / Palma Ceia market and an ideal location immediately west of the recently-announced Ritz Carlton Residences. Comprising four spacious units and resort-style amenities, Miramar Flats commands the rare combination of beautiful Palma Ceia neighborhood living, walkability to both Roosevelt Elementary School and Bayshore Boulevard, direct unit access with no common or shared entryways, private fenced back gardens, immaculate interior styling, and direct connectivity throughout the Tampa area via the Selmon Expressway. Currently 100% occupied with a stable tenant base, the property maintained strong leasing demand and minimal tenant rollover throughout the COVID pandemic. As the surrounding neighborhood continues to benefit from roadway improvements, new park space (500 feet from property), and major nearby luxury development, Miramar Flats has been the direct beneficiary of these significant investments.? The strong positive impact of these changes can be capitalized upon by a new owner through immediate market-to-market rent increases, additional value-add improvements to the unit interiors and amenities, and potential future development as townhomes or denser apartments. As the Tampa MSA continues to experience dynamic population growth and Hyde Park single-family homes prices increase, the Palma Ceia neighborhood is expect to further develop into one of the regions most sought after residential markets.