Somerset Bay (Spring Hill, FL)
Bay Dr, Spring Hill, FL 34608, USA, Spring Hill, FL, 34608, US
144 unités
Attributs
Nombre d'unités
210
Occupation
97 %
Année de construction
1971
Année de rénovation
2009
Description de l'actif
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale Bay Pointe Tower, a 210-unit property in South Pasadena, FL. The Offering is a well-maintained senior Property located in the premium Tampa MSA. The Property is currently encumbered by a Section 236 Use Agreement and Project Based Voucher (PBV) contract. Based on the current tenant profile, an Investor can unlock tax savings through Florida's Elderly Tax Exemption. An Investor will also benefit from flexibility at reversion when the Use Agreement expires (allowing for conversion to market rate); alternatively, a Buyer could execute an affordable preservation via 4% tax credits and/or other incentives designed to maintain affordability.
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Points forts de l'investissement
- Well-maintained & Highly Amenitzed Senior Property
- Severe Lack of Affordability Driving Demand
- Untapped Tax Savings via Florida Elderly Tax Exemption
- St. Petersburg's Tourism: Driving Economic Prosperity and Employment
- Located in Premium Tampa Bay MSA
- Affordable Expiration + Reversion Flexibility
Média
Bay Pointe Tower (0 Propriétés)
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Dernière mise à jour
1 mai 2025