Central Park at East Bay 301 Seacrest Dr Immeuble residentiel 111 lots À vendre Largo, FL 33771

**** CALL FOR OFFERS DUE - JUNE 12, 2025 ****
Central Park at East Bay is a well-located, 111-unit apartment community in North Pinellas County offering a strong value-add opportunity in a highly desirable submarket. Current ownership has held the property for six years and completed capital improvements at acquisition, but the interiors are ready for the next round of updates. There is also potential to enhance curb appeal and upgrade amenities to further elevate the asset. With occupancy consistently above 95%, investors can immediately benefit from organic rent growth and loss-to-lease recapture. The property features spacious floor plans averaging over 1,000 square feet, including 68% two-bedroom, 1.5-bath units at 1,100 square feet and 32% one-bedroom, one-bath units at 850 square feet. Each apartment includes washer/dryer connections, and 71 units (64%) are equipped with machines, generating additional income through a $45 monthly fee.
Residents enjoy a well-rounded amenity package that includes a clubhouse and leasing office, swimming pool, fitness center, dog park, and playground, with the opportunity to convert underused spaces like the former laundry and maintenance rooms into new amenities. The property benefits from a high barrier-to-entry location, with no market-rate multifamily construction within a one-mile radius. The Largo/Seminole submarket is projected to experience 5.4% compound annual rent growth through 2030, reinforcing the long-term potential (RealPage, Largo/Seminole Submarket, 2026-2030). Central Park at East Bay also offers excellent regional connectivity, with convenient access to major employers, two international airports, and a range of nearby retail including Publix, Starbucks, and numerous dining options — all while being just minutes from the Gulf beaches and surrounding affluent neighborhoods.