Map of Property

Armature Park

7702 Rivergate Dr, Tampa, FL 33619

  • For Sale Contact for pricing
  • Property Type Other
  • Lot Size 8.75 Acre
  • Additional Rent Contact for pricing
  • Parking Spaces Avail. 200
  • Year Built 1975
  • Date Updated Sep 18, 2024

Colliers is pleased to present Armature Park, a 116-unit community with proven value-add upside in fast-growing Tampa, FL. Only 10 minutes from the largest employers in downtown Tampa, the property converted from income-restricted to 100% market-rate in 2020. Current ownership renovated 113 units (97%) with modern Shaker cabinets, subway tile backsplash, hardwood-style floors, in-unit washers and dryers, stainless steel appliances, and granite countertops to achieve average premiums of $255/unit. The property was also recently infused with significant capital into new signage, roofs, exterior paint, landscaping, windows, and new amenities, allowing new ownership to concentrate on additional revenuegenerating improvements.

There are multiple ways to add value at Armature Park. In addition to renovating the three unrenovated units, 24 units can be built “by right” on the back of the property. Targeted enhancements to the leasing office combined with amenity additions such as a pool and fitness center will complement existing unit interior renovations and boost the property’s perception for discerning renters. Already achieving impressive organic rent growth, nearly 6% on new leases and 4% on renewals over the last 5 months, new ownership can leverage outstanding market rent growth (42% Class B submarket rent growth over the last 5 years) to capture additional revenue and time value-add improvements perfectly.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Contacts

broker

Casey Babb

broker

Luis Baez

broker

Shawn Rupp

broker

Will Mathews

Location

Getting Around

  • Walk Score ®

    34/100 Car-Dependent

  • Transit Score ®

    20/100 Minimal Transit

  • Bike Score ®

    50/100 Bikeable
Powered by Walk Score ®
  • City Tampa, FL
  • Neighborhood Palm River-Clair Mel
  • Zip Code 33619
  • Market Tampa St Petersburg Clearwater

Points of Interest

  • Centennial Park

    4.17 miles

  • Centro Ybor

    4.41 miles

  • Streetcar Society

    4.53 miles

  • Tampa

    4.54 miles

  • York Street

    4.58 miles

  • Cumberland Avenue

    4.59 miles

  • Cadrecha Plaza

    4.66 miles

  • Amalie Arena

    4.76 miles

  • HSBC

    5.00 miles

  • Downtown Tampa

    5.27 miles

  • 7-Eleven

    0.44 miles

  • Marathon

    0.99 miles

  • Chevron

    1.16 miles

  • Exxon

    1.87 miles

  • Shell

    1.90 miles

  • 7-Eleven

    1.92 miles

  • Wawa

    2.13 miles

  • Shell

    2.16 miles

  • Marathon

    2.16 miles

  • Circle K

    2.19 miles

  • Faculty & Staff Parking

    3.02 miles

  • Citigroup Center

    3.15 miles

  • Citigroup Center

    3.26 miles

  • Parking For Dannys All American Diner

    3.40 miles

  • Centro Ybor Garage

    4.46 miles

  • Florida Aquarium Parking Lot

    4.56 miles

  • Channelside Parking Garage

    4.67 miles

  • Fernando Noriega Junior Garage

    4.71 miles

  • Garrison Street Surface Lot

    4.77 miles

  • THEA Overflow Parking

    4.79 miles

  • InTown Suites Extended Stay Tampa FL

    0.44 miles

  • Clarion Inn And Conference Center Tampa-Brandon

    1.38 miles

  • Comfort Inn Suites - Brandon

    1.96 miles

  • Motel 6

    2.04 miles

  • SpringHill Suites by Marriott Tampa Brandon

    2.05 miles

  • Country Inn & Suites by Radisson, Tampa/Brandon, FL

    2.06 miles

  • La Quinta Inn & Suites by Wyndham Tampa Brandon West

    2.23 miles

  • Fairfield Inn & Suites by Marriott Tampa Brandon

    2.24 miles

  • Hampton Inn Tampa/Brandon

    2.27 miles

  • Courtyard by Marriott Tampa Brandon

    2.29 miles

  • McDonald's

    0.53 miles

  • JC’s Sandwich Shop

    1.36 miles

  • First Choice BBQ

    1.90 miles

  • Wendy's

    2.01 miles

  • Sushi Yama

    2.04 miles

  • Sonny's

    2.08 miles

  • Subway

    2.10 miles

  • McDonald's

    2.10 miles

  • Subway

    2.11 miles

  • KFC

    2.12 miles

  • Clair-Mel Elementary School

    0.64 miles

  • Dowdell Middle School

    0.76 miles

  • Dowdell Junior High School

    0.79 miles

  • Palm River Elementary School

    1.07 miles

  • Kenly School

    1.65 miles

  • Hillsborough Academy

    2.29 miles

  • Bing Elementary School

    2.39 miles

  • Frost Elementary School

    2.54 miles

  • Palnez Academy

    2.56 miles

  • Oak Park Elementary

    2.61 miles

  • Creative Dwelling Academy

    6.05 miles

  • A First Step

    6.06 miles

  • Primrose School

    6.53 miles

  • Saint Francis Childrens Day Care Center

    6.57 miles

  • Education Research Child Care Development Center

    7.86 miles

  • La Petite Academy

    8.13 miles

  • Goddard School

    8.34 miles

  • Moffitt Child Care Center

    8.51 miles

  • Holy Trinity K-5 School

    8.61 miles

  • Child Care Center

    8.95 miles

Frequently Asked Questions

How much does Armature Park cost?

The sale price for Armature Park is available upon request. Contact the listing broker for more information.

When was this property built?

Armature Park was built in 1975.

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