Cedar Pointe Apartments represent a “Value Add” opportunity to acquire a lender-owned apartment community in Tampa, Florida. With an asking price of $1,800,000 ($23,684/unit) which is well below replacement cost.

Cedar Point is well located on Sligh Avenue just off of 56^th street in the Temple Terrace submarket. The property consists of 21 buildings (built in 1986) and contains 76 units; all of which are two bedrooms - one bathroom units.

The property is currently 43±% occupied which makes it an ideal candidate for a value-add and lease up project. Future upside will be achieved by renovating the units and repositioning the rents with comparable properties in the market.  Please call us to discuss the specific details regarding this opportunity.