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Altura Largo
Update
07/13/23
Apartment Complex in Largo For Sale
CBRE Multifamily is pleased to present the sale of Altura Largo, a 232-unit multifamily asset that consists entirely of a well-balanced mix of one and two-bedrooms including 24 highly desirable loft-style units. The property is located within 20-minutes from Downtown St. Petersburg (35,000 jobs), 10 minutes to Gateway Business District (60,000 jobs), and just minutes to premier Gulf Coast beaches such as, Clearwater, St. Petersburg, Treasure Island, Madeira Beach, and Belleair Beach.
Current ownership has invested over $3.5 million of capital expenditures in exterior improvements including new roofs, HVAC replacements, refreshed landscaping, pool remodel, a fitness center addition, and much more.
Altura Largo is primed for a buyer to capitalize on $1.1M+ in potential revenue growth by the end of value-add, which includes $424K in loss-to-lease recapture. 82% of units are currently below market rents with immediate upside potential.
Photo: CBRE
