|Number of units||256|
JLL is pleased to present the opportunity to acquire Creekside Ranch (the “Property”), a 256-unit luxury Class ‘A’ apartment community located prominently within the award-winning master-planned community of Lakewood Ranch 40 miles south of Tampa, Florida. Completed in 2015, the Property is uniquely positioned and offers upside potential through light interior upgrades in a fast growing, upscale submarket.
Creekside Ranch’s preeminent amenity offerings has solidified the Property’s timeless appeal and superior advantages over its competition. Amenities include an 18,824 square foot clubhouse featuring a demonstration kitchen, gaming room, theater room, and conference room. The expansive state-of-the-art gym offers a wide array of cardio and weight equipment, a separate yoga room and an indoor basketball court, while the outdoor spaces are highlighted by the large zero-entry pool and a massive covered lanai with commercial-grade stainless-steel grills, as well as a volleyball court and dog park. In addition, the Property is further distinguished from its competitors with 4-story construction and elevator service.
The Property’s spacious floor plans average 1,126 square feet and include attractive faux granite counters, vinylwood plank flooring, and a black General Electric appliance package that includes french-door refrigerators with water and ice dispensers. Value-add potential to upgrade the finishes to a more contemporary style that could include quartz/stone counters, updated cabinet doors/color, tile backsplash, and the replacement of carpet in the living rooms and bedrooms with vinyl-wood plank.
- Five-Star Amenity Offerings
- Affluent and Educated Demographic Within Lakewood Ranch
- Significant Value-Add Potential
- Strong Submarket Fundamentals
- Favorable Real Estate Taxes
- Accelerating Rent Increases