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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.

Property Facts

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)
  • Listing ID: 33171367

  • Date on Market: 2024-09-13

  • Last Updated:

  • Address: 609 Golden Raintree Pl, Brandon, FL 33510

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