Rogue Valley Village
3761 South Pacific Highway, Medford, OR, 97501, US
CA$4,661,000 | 76 units
Asset description
Jones Lang LaSalle, Inc. (“JLL”) is pleased to present Rivertree Landing, a 228-unit community in Tampa, FL. The property offers a mix of studio, one, two, and three-bedroom units spread across seventeen residential buildings with a clubhouse. It is perfectly positioned for an interior value-add with significant potential premiums. Rivertree Landing benefits from its close proximity to Tampa's Uptown Innovation Quarter - centered around the main campus of the University of South Florida, and one of the southeast's most Innovative medical research districts.
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Attributes
Units
228
Year built
1974
Building area net
20,504 sm
Media
Investment highlights
- NEW ROOFS - all replaced since 2021
- Over 50% of windows replaced
- Excellent unit mix containing one, two, and three bedroom floor plans
- Substantial loss-to-lease in-place ($137K+) - 60% below market rent
- 220 units have been updated with opportunity to further improve
- Opportunity to convert to Ratio Utility Billing System (RUBS) to drastically reduce water/sewer expense
- Historical strong rent growth - 9.5% T12 net rental income growth
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Last updated
Sep 16, 2024
