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Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

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Property Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire The Lorenzo and Bay Villa Place (the “Properties”), two boutique 1920’s-era communities totaling 24 units that have been expertly restored and meticulously maintained to provide a unique living experience further enhanced by an unmatched location just two blocks to Tampa’s landmark Bayshore Boulevard waterfront trail and three blocks to South Howard Avenue, Tampa’s premier dining and nightlife district.

 

The Lorenzo was built in 1924 with solid concrete block construction, The Lorenzo was designed in the classic Mediterranean Revival architectural style with unique exterior features reminiscent of that period, like the ornate archways bordering the doorways and the Corinthian-style accents decorating the central courtyard.

 

Bay Villa Place spans two four-unit buildings consisting of the same spacious two-bedroom floorplan, a rare find among boutique communities in the Hyde Park area which comprise overwhelmingly of studio and one-bedroom layouts. Bay Villa was originally built in 1926, but each building has undergone significant renovations in recent years with all new windows, sound-proofing insulation between floors, upgrades to major mechanical systems, and a complete re-stucco of one of the buildings.

Investment Highlights

  • Unmatched Location in Tampa’s Most Exclusive & Affluent Neighborhood
  • Charming 1920’s Architecture with Modern Features
  • Significant Upside Through Burning off Loss-to-Lease and Interior Value-Add
  • Convenient Access to Tampa’s Major Employment Centers
  • $140,000 Avg. HHI and $630,000 Avg. Home Value Within a 1-Mile Radius


Last Updated Date: 07 Apr 2021
Zach Nolan
Zach Nolan
Senior Director, Capital Markets
License details
FL-SL3280497
Matt Mitchell
Matt Mitchell
Senior Managing Director, Tampa Office Head
License details
FL-BK3221815
Last Updated Date: 07 Apr 2021

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