Property Description
SELLER FINANCING OPTION!!! Located in the heart of Palma Ceia, Esperanza Flats features four apartment units each with a two-bedroom / one-bathroom floorplan. Currently 100% occupied, the two-story boutique building is located on a prime corner lot and includes off-street tenant parking, upgraded landscaping, and bike storage. Tenant leases are structured with one-year durations and include utility reimbursement. The property has historically maintained 100% occupancy due to its prime location and high-quality unit interiors.
Completed in 2018, the current owner undertook a substantial renovation to bring the property in-line with the surrounding luxury home aesthetic. Renovations included interior and exterior upgrades that differentiate the properties and drive consistent tenant demand. While upgraded, unit interiors could be further improved and washer/ dryers can be added throughout the community as part of a value-add strategy to capture even higher rents. In addition to the renovation, Esperanza Flats has just completed a TPO reroof.
Palma Ceia is amongst the most sought-after neighborhoods in the Tampa MSA. With easy access to luxury retail and dining amenities in Hyde Park Village, proximity to picturesque Bayshore Boulevard, and direct connections to downtown Tampa’s demand generators. Over the last decade, Palma Ceia has transformed into an attractive retail destination filled with independent and boutique retailers lining Bay to Bay Boulevard, two blocks north of Esperanza Flats.
The submarket has experienced substantial luxury condominium development, including the 182-unit Ritz Carlton project that began construction in 2021 with sales prices starting at $1.7M. To complement the project, Related Group/Ritz-Carlton has plans to add a dog park, swings and pedestrian walkway under the Expressway overpass which will be a great tenant amenity. This capital commitment adds to the billions of dollars of construction within the area spearheaded by Bill Gates and Jeff Vinik.
Features
- Heating System:
- Central
- Cooling System:
- Central Air
- Parking:
- Off Street
- Exterior Features:
- Sidewalk
- Flooring:
- Tile, Vinyl
- Interior Features:
- Open Floorplan, Window Treatments, Solid Surface Counters
- Laundry Features:
- Laundry Room, Outside
- Sewer:
- Public Sewer
- Utilities:
- Public, Sewer Connected, Water Connected
Appliances
- Appliances:
- Range, Refrigerator
Address Map
- Country:
- US
- State:
- FL
- County:
- Hillsborough
- City:
- Tampa
- Subdivision:
- PALMA CEIA PARK A RESUB OF BLO
- Zipcode:
- 33629
- Street:
- ESPERANZA
- Street Number:
- 3107
- Street Suffix:
- AVENUE
- Longitude:
- W83° 30' 16.1''
- Latitude:
- N27° 55' 4.3''
- Directions:
- From Bay to Bay Boulevard turn South onto S Ferdinand Avenue. Proceed three blocks South and turn left onto W San Pedro St. The property is located on the NW corner of San Pedro St and S Esperanza Ave.
- Mls Area Major:
- 33629 - Tampa / Palma Ceia
- Street Dir Prefix:
- S
- Zoning:
- RM-16
Neighborhood
- Elementary School:
- Roosevelt-HB
- High School:
- Plant-HB
- Middle School:
- Coleman-HB
Additional Information
- Lot Size Dimensions:
- 50x100
- Water Source:
- Public
- Previous Price:
- 1400000
- On Market Date:
- 2023-01-18
- Number Of Units Total:
- 4
- Lot Features:
- Sidewalk, Corner Lot, Landscaped
- Levels:
- Two
- Foundation Details:
- Crawlspace
- Construction Materials:
- Concrete, Wood Frame, Brick
Financial
- Tax Annual Amount:
- 10346.63
Listing Information
- List Agent Mls Id:
- 261200277
- List Office Mls Id:
- 261011583
- Listing Term:
- Private Financing Available
- Mls Status:
- Sold
- Modification Timestamp:
- 2023-08-17T18:00:08Z
- Originating System Name:
- Stellar
- Special Listing Conditions:
- None
- Status Change Timestamp:
- 2023-08-17T17:59:59Z
Residential Income For Sale
3107 S Esperanza Avenue, Tampa, Florida 33629
8 Bedrooms
4 Bathrooms
3,472 Sqft
$1,350,000
Listing ID #O6084314
Basic Details
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Listing ID :
- O6084314
- Price :
- $1,350,000
- Bedrooms :
- 8
- Bathrooms :
- 4
- Square Footage :
- 3,472 Sqft
- Year Built :
- 1925
- Lot Area :
- 0.11 Acre
- Property Sub Type :
- Quadruplex
- Roof:
- Membrane
Agent info
Contact Agent