Capstone Offering: Stabilized Asset in Thriving Tampa Bay MSA

Capstone Apartment Partners is pleased to present Lake Tarpon Apartments: a 40-unit multi-family community in Palm Harbor within Pinellas County, Florida’s most densely populated county. The community was built in 1970 with concrete block construction and features a desirable unit mix of spacious one and two bedroom units. This offering presents the opportunity to acquire a stabilized, well-maintained 55+ community with continued rental upside and a full amenities package.

The property is situated on a 0.75 acre lot, and has a mix of 14 1 BR/1 BA, 18 2 BR/1.5 BA, and 8 2 BR/2 BA units. The apartments include screened-in patios and feature spacious floorplans. The community has access to excellent amenities such as a spacious clubhouse with a library, kitchen and entertainment area, billiard room, shuffleboard courts, sauna, large resort-style solar heated pool, community dock, boat ramp, and boat storage facility as part of the Lake Tarpon subdivision.

Lake Tarpon Apartments is conveniently located just a few miles away from the beautiful seaside community of Tarpon Springs. With its diversity and rich history, Tarpon Springs is known for its Victorian architecture, Greek food and culture, world famous Sponge Docks, gorgeous beaches, golf courses, sport fishing, boating, antiques, concerts, festivals, and museums. The property is situated just one block off of US-19, which serves as the main route running North-South through Pinellas County. This excellent proximity to main thoroughfares provides access to St. Petersburg-Clearwater International Airport and Tampa International Airport within just 30 minutes, as well as access to major employment centers, including Carillon Business Park and Gateway Districts.

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