|Number of units||448|
Jones Lang LaSalle Americas, Inc. (“JLL'') is pleased to present The Livingston (the “Property”), a prime 448-unit value-add opportunity with immediate access to the Innovation District, Tampa’s second-largest job market at 74,000 employees and home to four major hospitals, several million square feet of space devoted to STEM jobs, the nation’s 9th largest university, and a highly-rated public school district.
The Property was completed in two phases in 1986 and 1990 across 31 two- and three-story residential buildings that feature solid concrete block construction on the first two stories. The Property underwent an extensive renovation in 2017 that included the rebuilding of the clubhouse, a transformation of the common area amenities, and major improvements to the Property’s physical plant. Additionally, all of the interiors were updated with finishes that have left the units in excellent condition but have left a new owner the opportunity to further upgrade the units to meet today’s standards.
With a prime location near Tampa’s fastest-growing and most recession-proof employment hub, The Livingston uniquely offers prospective investors the ideal combination of strong, stable cash flow with the exciting upside potential of a moderate value-add component, the ability to burn off significant loss-to-lease, and the chance to capitalize on the outsized growth fundamentals in the Tampa market.
· Highly Desirable Garden-Style Community in Excellent Condition
· Ability to Drive Value Through Interior Upgrades
· Outsized Rent Growth Creates Significant Mark-to-Market Opportunity
· Highly Convenient Location with ‘A’-Rated Public Schools
· Immediate Access to Tampa’s “Meds & Eds” Employment District
· One of the Country’s Hottest Growth Markets