Haciendas De Ybor
Update
09/21/22
Tampa Apartment Community on the Market
CBRE, as exclusive marketing advisor, is pleased to present Haciendas de Ybor, located in the historic Ybor City submarket of Tampa, Florida. The community is a Section 8 housing community for the elderly and disabled, age 62 and older. Completed in 1970, the community offers two-story concrete construction with 73 studios and 29 one-bedrooms, averaging 441 sq. ft. The property will benefit from the high demand and occupancy of the section 8 market and rental increases every 5 years.
The property sits near the Gas Worx site, a 50-acre, mixed-use development of residential, office, and retail space just 4.5 miles west of Haciendas de Ybor. This development is on the outskirts of Ybor City. It aims to provide a visual connection between two existing districts and make Ybor one of Tampa’s trendiest communities.
Haciendas de Ybor is a low-risk cash-flowing asset with five-year rental increases. The property’s subsequent rent growth will begin by 2026, with a projected cash-on-cash return of 14.8% and a leveraged return of 40.0%.
Photo: CBRE
