Somerset Bay (Spring Hill, FL)
Bay Dr, Spring Hill, FL 34608, USA, Spring Hill, FL, 34608, US
144 units
Asset description
Jones Lang LaSalle Americas, Inc. ("JLL") as exclusive advisor, is pleased to present the opportunity to acquire Whitney Place Townhomes (“the Property”), a fully amentized, 60 unit built-to-rent townhome community which includes 32 existing units built in 2022 (88% occupancy) and an additional 28 finished lots. Located in Clearwater, Florida, Whitney Place Townhomes is the only BTR community located within Pinellas County. Its incredible infill location offers immediate access to the famed white sand beaches of Clearwater Beach and Tampa's largest office market, the Gateway Business District (114,000 jobs) just five minutes away from the Property. Whitney Place Townhomes appeals to a discerning clientele seeking space and a true sense of home without the hassles of ownership, within the most densely populated county in Florida. The Property's ideal mix of two- and three-bedroom townhomes with one-car garages, private patios, and oversized floorplans averaging 1,700 SF is driving exceptional tenant demand.
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Attributes
Units
60
Year built
2023
Building area net
9,476 sm
Media
Investment highlights
HIGHLY SOUGHT-AFTER, LOW-DENSITY, BUILD-TO-RENT DEVELOPMENT: Standing as the first purpose built BTR community within the densest populated county of Florida.
SOPHISTICATED AMENITY PACKAGE: Offering an exceptional array of amenities rarely found in build-to-rent communities, Whitney Townhomes features a comprehensive suite including a dog park, fitness center, resort-style pool with poolside grills, and a fully-equipped clubhouse.
UNIQUE VALUE PROPOSITION: All-in home ownership represents an 80% premium over renting at Whitney Townhomes, considering average home values in Clearwater stand at $525,000 with a 7% mortgage rate and a 20% down payment.
NO COMPETING SUPPLY: There are no other purpose built BTR communities in Clearwater or within Pinellas County and no planned communities to deliver in the next 24 months.
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Whitney Place Townhomes (0 Properties)
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Last updated
May 14, 2025
