OPTIMAL
Harbor View Courtyards
Tampa, FL • C-Class Value-Add
Key metrics
- List price
- $6.85M
- Units
- 36
- Cap rate
- 6.9%
- Cash-on-cash
- 12.7%
- 5yr IRR
- 20.6%
- IQ score
- 87
Investment summary
Classic value-add profile: 62% of units unrenovated with $240/mo achievable premium post-scope. In-place expense ratio of 48% is 6pts above submarket norm.
- Flood zone AE — insurance quoted at $1,480/unit/yr.
- Renovated comps leasing 11 days below market average.