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Milan Villas 12216 N 59th St 7 Unit Apartment Building $1,760,077 CAD ($251,440 CAD/Unit) 6.84% Cap Rate Tampa, FL 33617
Investment Highlights
- Excellent location
- Space to build additional apartments!
- Large, marketable units
- High demand rental market - close to everything in the area!
Executive Summary
The Goldstein Group is pleased to present Milan Villas of Tampa, FL.
As one of the most populous cities in Florida, Tampa is an ideal market in which to own quality rental units. This 7 unit community enjoys high
demand due to attractive floorplans and privacy normally associated with single family home living, while also offering affordability and proximity to
everything the area has to offer.
By being in the heart of one of the most popular places to live in Florida, Milan Villas offers:By being in the heart of one of the most popular places to live in Florida, Milan Villas offers:
•
•Strong appeal for residents – featuring gated access, spacious, updated units, a community pool (unusual for 7 units), and reserved parking, these units enjoy high demand as annual or vacation rentals year round.
•Stability – Townhomes are a high demand rental type in all markets, but particularly in the Tampa Bay area. Investors enjoy a solid and consistent tenant base, and residents the luxuries of a single family home with the conveniences/amenities that come with apartment living.
•Location – Less than 2 miles from University of South Florida, Adventhealth Hospital Tampa, VA Medical Center and Moffitt Cancer Center – all major local employment and education centers, creating a broad local tenant base. Also, close to all local retail, dining, hospitality, office and world-famous Busch Gardens of Tampa Bay!
•Flexibility – units are individually deeded, and four are currently fully furnished and operated as vacation rentals/Airbnb units. Can be sold off individually to owner/occupants or smaller investors if so desired.
•Potential for additional units – Included in the sale is a 0.40 acre parcel behind the property, with the potential to build 8 additional townhomes.
As one of the most populous cities in Florida, Tampa is an ideal market in which to own quality rental units. This 7 unit community enjoys high
demand due to attractive floorplans and privacy normally associated with single family home living, while also offering affordability and proximity to
everything the area has to offer.
By being in the heart of one of the most popular places to live in Florida, Milan Villas offers:By being in the heart of one of the most popular places to live in Florida, Milan Villas offers:
•
•Strong appeal for residents – featuring gated access, spacious, updated units, a community pool (unusual for 7 units), and reserved parking, these units enjoy high demand as annual or vacation rentals year round.
•Stability – Townhomes are a high demand rental type in all markets, but particularly in the Tampa Bay area. Investors enjoy a solid and consistent tenant base, and residents the luxuries of a single family home with the conveniences/amenities that come with apartment living.
•Location – Less than 2 miles from University of South Florida, Adventhealth Hospital Tampa, VA Medical Center and Moffitt Cancer Center – all major local employment and education centers, creating a broad local tenant base. Also, close to all local retail, dining, hospitality, office and world-famous Busch Gardens of Tampa Bay!
•Flexibility – units are individually deeded, and four are currently fully furnished and operated as vacation rentals/Airbnb units. Can be sold off individually to owner/occupants or smaller investors if so desired.
•Potential for additional units – Included in the sale is a 0.40 acre parcel behind the property, with the potential to build 8 additional townhomes.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$120,389
|
$16.60
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $120,389 |
| Annual Per SF | $16.60 |
Property Facts
| Price | $1,760,077 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $251,440 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.02 AC |
| Cap Rate | 6.84% | Building Size | 7,252 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1984 |
| Property Subtype | Apartment | ||
| Zoning | RMC-20 - Residential Manufactured Home zoning district that allows for a maximum density of 20 units per acre | ||
| Price | $1,760,077 CAD |
| Price Per Unit | $251,440 CAD |
| Sale Type | Investment |
| Cap Rate | 6.84% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.02 AC |
| Building Size | 7,252 SF |
| No. Stories | 2 |
| Year Built | 1984 |
| Zoning | RMC-20 - Residential Manufactured Home zoning district that allows for a maximum density of 20 units per acre |
Amenities
Site Amenities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 500 |
| 2+1.5 | 4 | - | 960 - 1,000 |
| 3+2.5 | 2 | - | 1,872 |
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | U-10-28-19-1HP-000002-00006.0 | Improvements Assessment | $222,411 CAD (2025) |
| Land Assessment | $137 CAD (2025) | Total Assessment | $222,548 CAD (2025) |
Property Taxes
Parcel Number
U-10-28-19-1HP-000002-00006.0
Land Assessment
$137 CAD (2025)
Improvements Assessment
$222,411 CAD (2025)
Total Assessment
$222,548 CAD (2025)
Contacts
-
Martin Goldstein -
Russell Goldstein -
The Goldstein Group (MRG Associates, LLC)
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Milan Villas | 12216 N 59th St
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