Tampa, FL (PRWEB) December 15, 2014
JBM™ launched to market Avondale by the Lakes, completed in 1973. In 2009, exterior and interior renovations totaling over $1.6 million took place at the Property. As a result, select units feature various combinations of the following improvements: new appliances, faux wood flooring, and paneled cabinetry with brushed nickel knobs, resurfaced countertops, new light fixtures and plumbing fixtures. Capital improvements such as these and excellent physical upkeep reflective of an institutional owner and manager allow a future investor to focus on infusing capital into a more formal interior upgrade program.
Avondale by the Lakes represents a true value-add opportunity due to the Property’s attractive location, competitive amenity package, and overall solid concrete block construction. The Property is located in a residential area just blocks from beautiful Tampa Bay in the Pinellas Pointe neighborhood, which is recognized for its desirable single family homes, many of which enjoy million-dollar bay views. The central location near significant demand drivers such as numerous educational institutions, hospitals and downtown St. Petersburg supports the ability to attain higher rents.
JBM™ Institutional Multifamily Advisors is the most reliable source of brokerage services in the institutional multifamily asset and investment industry with Florida offices located in Tampa, Orlando, and Naples. JBM™ specializes in the sale of high-rise, mid-rise and garden style apartment communities throughout the Southeast United States and focuses exclusively on asset disposition services, capitalization and recapitalization of existing and merchant development opportunities of large apartment type portfolios and singular assets for Domestic and Foreign Institutional, Private National and Regional clientele.
The firm’s collective team efforts have exceeded $8.9 Billion and over 102,000 apartment units listed, marketed and sold. The firm delivers a strong legacy of excellence in representation and the most effective investment sales platform throughout the Southeast United States, meriting Jamie May and JBM™ as a trusted leader in the multifamily industry.
If you would like more information about this property or to schedule an interview with Jamie May, Chairman & CEO or Eddie Yang, Principal and Executive Director please, contact Claudia Raines at 813.812.5003 or email. To learn more, please visit: JBM.com