Oaks of Woodland Park - Tampa, FL

Jones Lang LaSalle (“JLL”) is pleased to exclusively present Oaks of Woodland Park, a 404-unit low-density residential community built in 1985 and located within one of Tampa’s most desirable and established suburbs, Carrollwood. Situated on a serene 34.86-acre site nestled around two ponds, the property features a differentiated two-story wood-frame design with an average unit size of 1,099 square feet which are the largest floorplans in the submarket. The community is currently 92% occupied and 95% leased, achieving an average rent of $1,764, or $1.60 per square foot. Anchored within the Carrollwood neighborhood—defined by its mature tree canopy, recreational lakes, and quiet residential character. Oaks of Woodland Park benefits from top-rated schools, the social fabric of Carrollwood Country Club, and convenient access to the Dale Mabry Highway corridor and Lake Carroll.

The investment opportunity is spearheaded by an exceptional value-add opportunity, with 79% of units (320 of 404) offering further upside through a targeted interior renovation program. The property currently spans four tiers of finish— classic, partially renovated, 2019-renovated, and fully renovated (2020)—and a new owner can capture meaningful rent premiums by upgrading classic and partially renovated units with white shaker- style cabinetry, vinyl plank flooring, stainless steel appliances, granite countertops, modern lighting, and subway tile backsplashes. These improvements carry the potential to generate approximately $255 in additional monthly rent per unit, representing a substantial uplift to in-place revenue and a clear, executable path to value creation based on a proven renovation premium.

Beyond the physical upside, Oaks of Woodland Park is supported by strong location-driven demand fundamentals. The property sits within a 25-minute drive of Tampa Bay’s three largest employment hubs—Downtown Tampa (71,000 employees), the Westshore Business District (102,000 employees), and Gateway Business District

(114,000 employees)—and serves an upscale resident base with an average household income of $112,219 and a median of $86,094. With submarket rent growth forecast to exceed 14% over the next three years (ApartmentIQ) and a current basis well below replacement cost amid land scarcity and rising construction costs, the asset offers a compelling combination of durable cash flow, embedded renovation upside, and long-term appreciation potential in a supply-constrained, high-barrier market.