3107 S Esperanza Avenue 1 Tampa, FL 33629

Located in the heart of Palma Ceia, Esperanza Flats features a two-bedroom / one-bathroom floorplan. The two-story boutique building is located on a prime corner lot and includes off-street tenant parking, upgraded landscaping, and bike storage. The current owner undertook a substantial renovation to bring the property in-line with the surrounding luxury home aesthetic. In addition to the renovation, Esperanza Flats has just completed a TPO reroof. Palma Ceia is amongst the most sought-after neighborhoods in the Tampa MSA. With easy access to luxury retail and dining amenities in Hyde Park Village, proximity to picturesque Bayshore Boulevard, and direct connections to downtown Tampa's demand generators. Over the last decade, Palma Ceia has transformed into an attractive retail destination filled with independent and boutique retailers lining Bay to Bay Boulevard, two blocks north of Esperanza Flats. The submarket has experienced substantial luxury condominium development, including the 182-unit Ritz Carlton project that began construction in 2021 with sales prices starting at $1.7M. To complement the project, Related Group/Ritz-Carlton has plans to add a dog park, swings and pedestrian walkway under the Expressway overpass which will be a great tenant amenity. This capital commitment adds to the billions of dollars of construction within the area spearheaded by Bill Gates and Jeff Vinik.