Miles Tombrink

Associate

Email: Miles.Tombrink@MarcusMillichap.com
Phone:
(813) 387-4739 – Direct
(813) 716-2781 – Mobile

Luis Baez, CCIM

First Vice President Investments

Email: Luis.Baez@MarcusMillichap.com
Phone:
(813) 387-4849 – Direct
(813) 767-6275 – Mobile

 

The Babb Group of Marcus & Millichap is pleased to offer, the CFFL Portfolio; a 22-unit rental portfolio consisting of single-family homes throughout the Tampa Bay MSA. The rental homes vary in age, size, and configuration but 77% were built after 1959. Altogether, the houses average 1,071 square feet and have an average rent of $999/month. Units are a mix of 2, 3, and 4 bedrooms with 3 bedrooms accounting for 45% of the floor plans. The Portfolio is spread throughout the Tampa Bay MSA with 59%, 36%, and 5% located in Pasco, Hillsborough, and Pinellas counties respectively.

The Tampa Bay MSA is experiencing unprecedented growth with 4,000+ people moving to the area each month. Many new residents are moving for job opportunities as the metro continues to be one of the best per capita employment growth markets in the country. Others will continue to relocate to Tampa Bay purely based on the excellent quality of life and relatively low cost of living which will bolster rental properties long-term, pave the way for continued rent growth and lead to asset appreciation due to the increased demand for residential housing. This offering is priced at $2,450,000, or $111,364/house which allows an incoming investor to acquire the portfolio for 85% of its’ retail value. While an investor peels these off individually, they will also achieve a 6%+ return until each home is sold.

• Majority Concrete Block Construction
• Highly Desirable Unit-Mix
• Central HVAC
• Tenants Pay All Utilities

• Properties are Mostly Urban Infill and Located Near Rental Demand Drivers
• All Residences are Located in Hillsborough, Pasco and Pinellas Counties
• Every Home is Located Near Major Roadways Giving Ease of Access to Major Employment Hubs
• The Tampa Bay MSA is experiencing unprecedented growth with 4,000+ people moving to the area each month

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