Palm Villa Hostels- Investment Opportunity

Hospitality for Sale
Catylist Listing ID: 30559449
Property Subtypes: Hostel, Hotel, Motel
Number of Units: 3 Units
Building Size (RSF): 6,680 SF
Gross Building Area: 9,580 SF
Gross Land Area: 0.38 Acres
Sale Price: $3,500,000
Unit Price: $1,166,666.67 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Name of Establishment: Palm Villa Hostels
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 7/15/2021

Overview / Comments

Florida Commercial Group is please to present for Sale Palm Villa Hostels, located at 801- 803 E. Palm Avenue and 1905 N. Taliafero Avenue. This is a Rare Investment Opportunity in the Tampa Heights Area of East Tampa. This Asset consists of 3 Historic Buildings offering 13 units that are leased individually and generating weekly and monthly rents. The entire Investment Portfolio is being Sold As- Is. 801 E. Palm Avenue offers 4 bedrooms, 2 baths and is 2,050 HSF. 803 E. Palm Avenue is 1,730 HSF and offers 5 bedrooms and 3 baths. 1905 N. Taliaifero Avenue offers 4 Bedroom and features 2,800 SF. There is onsite parking as well as common Street Parking giving ease of access to the property via Taliafero Avenue. Current Zoning of RM-24 Allows for Residential Mixed-Use up to 24 units or the Property may be converted to Commercial use as Professional Office or Redeveloped into a Small Office Complex or a Co-work Space. Nestled on the edge of Historic Tampa Heights and Historic Ybor City, this Location boasts a corner location surrounded by Restoration and New Development Happening in all Directions- a Terrific Opportunity to Invest in East Tampa! You may keep these three Buildings as current, Hotel/ Motel, upgrade the property for increased monthly income, convert to a greater yielding housing complex (Student Housing, ALF, Air BnB, etc…) or re-develop the site into to Professional Offices. CALL TODAY FOR A VIEWING.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Hillsborough
Tax ID/APN: 1829134XW000005000021A
Zoning: RM-24
Retail Clientele: Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: E. Palm Avenue and N. Taliafero Avenue
Property Visibility: Excellent
Largest Nearby Street: Nebraska Avenue
Feet of Frontage: 102
Traffic/Vehicle Count: 16,810
Highway Access: Interstate 4, Interstate 275
Airports: Tampa International Airport
Site Description: PROPERTY FEATURES • Hotel/ Motel Asset Featuring 3 Buildings and 13 Rooms • Property Operates as a high occupancy Hotel/ Motel and is perfect for an Owner/ Operator • Excellent Bed and Breakfast Opportunity for Increased Monthly Income • Property may be converted to Student Housing, ALF, Professional Offices or Single- Family Home Development • Property may be torn down and developed into a New Condo Development • 102’ of Frontage on Palm Avenue • Adjacent to Interstate 275 (223,919 VTD) • Situated Immediately West of Historic Centro Asturiano de Tampa • Minutes from Downtown Tampa, Channelside and Ybor City
Area Description: Located directly on the corner of E. Palm Avenue and N. Taliaferro Avenue, Subject offers Great Frontage and Fantastic Visibility in the Bustling Tampa Heights District. Ybor City, Seminole Heights, Downtown Tampa and Channelside are all within 5-10 minute commute of this property. Located directly West of the busy intersection of Nebraska Avenue and Palm Avenue, this Property is Surrounded by a mix of Commercial Businesses and Residential/ Multi- Family Communities of East Tampa. Centrally located and offering easy access to Interstate- 4 and Interstate- 275. You’ll be in Downtown Tampa or just about anywhere else in the Tampa Bay Area within Minutes! PLEASE DO NOT DISTURB OCCUPANTS. Call Today for Additional Property Details.
Total Number of Buildings: 3
Number of Stories: 2
Property Condition: Good
Year Built: 1902
Roof Type: Gable
Construction/Siding: Wood Frame
Average Occupancy Rate: 100
Parking Type: Surface
Parking Description: Parking onsite and street
Zoning Description: Residential Multiple-Family: This district provides primarily for medium density multiple-family residential development. Minimum lot size is 5000 square feet, 1 unit per 1815 (sq. ft.). Maximum height is 60 feet.
Lot Frontage: 102
Lot Depth: 165
Water Service: Municipal
Sewer Type: Municipal
Legal Description: BONNIEHURST W 1/2 OF LOTS 2 AND 3 BLOCK 5 :: BONNIEHURST LOT 6 BLOCK 5 :: BONNIEHURST E 1/2 OF LOTS 2 AND 3 BLOCK 5

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,139 132,842 291,560
Median Age: 34.77 35.76 36.34
Households: 7,237 54,703 118,911

Contact

Photograph of Listing Agent

Tina Marie Eloian, CCIM

Florida Commercial Group CE-FL Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Commercial Exchange Florida nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.