- Strategic Location Near Employment, Retailers & Entertainment
- Strong Tampa Population & Employment Growth
- Multiple Avenues to Increased Net Income
- Ability for Tax Savings by Continual Operation as Condominiums
- Assumable Below-Market Agency Debt at 2.97%
Strategic Location Near Employment, Retailers & Entertainment
Copeland Village is situated in the North Tampa submarket of the Tampa MSA, just over 1 mile west of the University of South Florida Campus. Surrounded by key employers and recreational destinations, the location provides a dynamic and thriving community for residents. Nearby employers and retailers include the Moffitt McKinley Cancer Center, AdventHealth Tampa, Busch Gardens, Pepsi Tampa, and more.
Strong Tampa Population & Employment Growth
The Tampa MSA has experienced a robust population growth of nearly 7.5% over the last five years, outpacing the national average of 3.5%. In addition, Tampa leads Florida in employment growth with 60,500 jobs added over the trailing 12-month period, an increase of over 4%.
Ability for Tax Savings by Continual Operation of the HOA
Copeland Village presents a unique opportunity for significant tax savings by continuing to operate as condominiums. The residential appraisal process is based on a mass appraisal approach, with all the prior year’s aggregate sales determining the current year’s value within the submarket. With an average unit size of 405 SF along with the entire 407 units being compared to other condominium sales, 2024 assessment is likely to stay muted. In addition, this provides additional value to not collapse the HOA and convert to a multifamily asset as the savings are well into the six figures on an annual basis.
