Map pinOleander Way South 880, South Pasadena, FL, 33707, US

Bay Pointe Tower

Bay Pointe Tower_Property for Sale

Attributes

Units
210
Occupancy
97%
Year built
1971
Year renovated
2009

Asset description

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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Investment highlights

  • 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
Bay Pointe Tower 4_Property for Sale
Bay Pointe Tower 4_Property for Sale
Bay Pointe Tower (0 Properties)

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Last updated
May 1, 2025