The Hamptons at Brandon | 609 Golden Raintree Pl
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The Hamptons at Brandon 609 Golden Raintree Pl
51 Unit Apartment Building $9,669,600 CAD ($189,600 CAD/Unit) 6.40% Cap Rate Brandon, FL 33510
Investment Highlights
- Large, open floor plans with 92 percent two-bedrooms/two-baths or larger
- Immediate upside potential in rents ($258 per unit per month), and ability to increase the NOI by 35%+ over the first two years
- Offering below replacement cost with immediate equity at purchase; recent individual unit sales as high as $190,000
- Full amenity package including two swimming pools, clubhouse, fitness center, and multiple resident gathering areas
- Multiple exit strategy options
- Central Hillsborough County location in proximity to major demand drivers, transportation corridors, and an abundance of employment
Executive Summary
The Hamptons at Brandon is a 1980s constructed garden-style community. The offering includes 51 of 204 units which have been operating successfully as rentals for the past fifteen years. Units are spread throughout the community which consists of twenty-three, two-story multifamily buildings and two common area buildings which house the office, a clubhouse, laundry facilities and the main swimming pool. The offering is a mix of four, one-bedroom/one-bath units, forty two-bedroom/two-bath units and seven, three-bedroom/two-bath units. Units feature large floor plans, private patios, fully equipped kitchens with dishwashers and washer/dryer connections in select units. Community amenities include two swimming pools, a clubhouse, two laundry facilities, lighted, multi-purpose recreation court, fitness center, sand volleyball court, toddler playground and BBQ grilling areas.
The Hamptons is located in Brandon which is a thriving suburb of Tampa just seven miles from Downtown Tampa. The Greater Brandon Area is one of the fastest growing suburban communities in the Tampa Bay MSA. The Hamptons has an employment base of 100,000+ within a five-mile radius and is in proximity to major demand drivers such as the Brandon Regional Hospital (1 mile southeast), the Brandon Exchange and Regency Square Malls (2 miles east), The Estuary; a massive entertainment complex which includes Bass Pro Shops, Topgolf, iFly, Carvana, a Tampa General Hospital ER and two USAA office buildings totaling 660,000 SF and houses 4,500 employees (2.4 and 3.4 miles west, respectively). The Brandon Campus of Hillsborough Community College is just minutes away from and is an institution with nearly 47,000 students across its six local campuses and ranks 20th nationally in total number of associate degrees produced annually. Furthermore, the property is within two miles of Interstate 75 and the Lee Roy Selmon Expressway giving easy access to other desired destinations within the Tampa MSA.
The Hamptons is located in Brandon which is a thriving suburb of Tampa just seven miles from Downtown Tampa. The Greater Brandon Area is one of the fastest growing suburban communities in the Tampa Bay MSA. The Hamptons has an employment base of 100,000+ within a five-mile radius and is in proximity to major demand drivers such as the Brandon Regional Hospital (1 mile southeast), the Brandon Exchange and Regency Square Malls (2 miles east), The Estuary; a massive entertainment complex which includes Bass Pro Shops, Topgolf, iFly, Carvana, a Tampa General Hospital ER and two USAA office buildings totaling 660,000 SF and houses 4,500 employees (2.4 and 3.4 miles west, respectively). The Brandon Campus of Hillsborough Community College is just minutes away from and is an institution with nearly 47,000 students across its six local campuses and ranks 20th nationally in total number of associate degrees produced annually. Furthermore, the property is within two miles of Interstate 75 and the Lee Roy Selmon Expressway giving easy access to other desired destinations within the Tampa MSA.
Property Facts
Price | $9,669,600 CAD | Apartment Style | Garden |
Price Per Unit | $189,600 CAD | Building Class | B |
Sale Type | Investment | Lot Size | 11.62 AC |
Cap Rate | 6.40% | Building Size | 47,537 SF |
No. Units | 51 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1986 |
Property Subtype | Apartment |
Price | $9,669,600 CAD |
Price Per Unit | $189,600 CAD |
Sale Type | Investment |
Cap Rate | 6.40% |
No. Units | 51 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Garden |
Building Class | B |
Lot Size | 11.62 AC |
Building Size | 47,537 SF |
No. Stories | 2 |
Year Built | 1986 |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Patio
Site Amenities
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 4 | $1,759 CAD | 648 |
2+2 | 40 | $2,106 CAD | 918 |
3+2 | 7 | $2,255 CAD | 1,175 |
zoning
Zoning Code | RMC-16 (Residential Multi-Family) |
RMC-16 (Residential Multi-Family) |
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The Hamptons at Brandon | 609 Golden Raintree Pl
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