Niche (Tampa, FL)

1116 W Carmen St, Tampa, FL, 33606-1302, US

묘사

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UBER-INNOVATIVE AND DIFFERENTIATED PRODUCT:

ROBOTIC ORI FURNITURE

Select units feature Ori Living furniture, seamlessly transforming studio living rooms into bedrooms featuring a bed, couch, entertainment center, storage, and a

50-inch TV nook. All units feature eclectic transformative spaces and built-in wine racks.

RARE SUSTAINABLE VALUE PROPOSITION:

MOST AFFORDABLE UNITS IN SUBMARKET

In a market where housing costs increasingly challenge residents, Níche stands out as a beacon of attainability. In-place rents account for just 14% of Household Income, signaling potential for sustainable rent growth - well below traditional affordability metrics.

SUBSTANTIAL MARK-TO-MARKET OPPORTUNITY:

28% DISCOUNT TO LEASES

On second-generation leases, in-place rents represent a 28% discount to the comparables, and the property leased up in 6 months. The property’s lease tradeout history proves out this tremendous opportunity, boasting a 5.87% increase on new

leases and a 4.18% increase on renewals, while net effective rent growth on tradeouts stands at 7.12% (excluding tradeouts on short term leases).

SOPHISTICATED AMENITY SET:

ROOFTOP POOL AND CLUBHOUSE

Amenities include a rooftop pool featuring skyline and bay views, rooftop fitness center, golf simulator, courtyard putting greens, and outdoor Yoga Terrace with city views.

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개요

단위 수

251

점유율

95%

건축년도

2024

건물 총면적

13,977 제곱미터

미디어

투자 하이라이트

STRENGTHENING SUBMARKET FUNDAMENTALS:

3.3% RENT GROWTH IN YEAR 1

Favorable rent growth of 3.3% is projected in Year 1 (Costar), which is supported by in-place income at the property.

DIMINISHING SUPPLY PIPELINE:

NO IMMEDIATE DEVELOPMENTS IN HYDE PARK

Given the absence of rezoning applications in North Hyde Park for 2025 and 2026, Níche faces no immediate competition from upcoming developments. This lack of new supply, combined with the area's current undersupply, puts Níche in a favorable market position.

CONNECTIVITY ATTRACTING ELITE DEMOGRAPHICS:

$181,662 AVG. HHI

The property boasts an average household income of $181,662, desirable A-rated schools, and the convenience of being less than a 10-minute drive from Tampa’s major job markets of Downtown Tampa (71,000 employees) and Westshore Business District

(104,000 employees).

* Includes Guarantor Income

HIGHLY AMENITIZED NEIGHBORHOOD:

78 WALK SCORE

North Hyde Park offers exceptional amenities with 46 walkable retail options (27 restaurants, 10 bars, 9 coffee shops), plus additional retailers and recreational amenities, creating a highly desirable live-work-play environment that drives strong tenant demand and rental premiums.

Real Advice Tax Strategy