Overview
The Candlelight & Oakwood Portfolio offers two garden-style multifamily communities totaling 186 units across 13.04 acres, built in 1982 and 1986. With a diverse mix of studio, one-, and two-bedroom floorplans. Ownership has completed recent capital improvements across both communities, including fresh exterior paint, upgraded landscaping, fencing repairs, and new concrete pads and walkways. Meaningful upside remains through untapped ancillary income from bulk internet and cable programs and the installation of washer and dryer machines in the remaining units. Located in Hernando and Pasco Counties along Florida's fast-growing, affordable Nature Coast, both communities sit roughly 45 miles north of Tampa with direct Suncoast Parkway (FL-589) connectivity to the greater metro, major employers, and area healthcare providers.
Investment Highlights
- Property Overview: Two garden-style multifamily communities totaling 186 units across 13.04 acres, built in 1982 and 1986
- Diverse Unit Mix: A blend of studio, one-, and two-bedroom floorplans across both assets, appealing to a broad renter base
- In-Unit Laundry: 70–80% of units equipped with washer and dryer connections (80% at Candlelight, 70% at Oakwood)
- Recent Capital Improvements: Ownership has completed fresh exterior paint, upgraded landscaping, tree removal, fencing repairs, and upgraded concrete pads and walkways across both communities
- Untapped Ancillary Income: Bulk internet and cable programs at both properties offer immediate potential to grow other income
- In-Unit Laundry Upside: Installing washer/dryer machines in the remaining units creates a new revenue stream portfolio-wide while enhancing the resident experience
- Tampa Bay MSA Connectivity: Both communities sit roughly 45 miles north of Tampa within the Tampa–St. Petersburg–Clearwater MSA, with the Suncoast Parkway (FL-589) providing a direct commuter link to the greater metro and Tampa International Airport
- Growing, Affordable Nature Coast Markets: Located in Hernando and Pasco Counties along Florida's Nature Coast, among the region's fastest-growing and most affordable submarkets, supporting sustained rental demand
- Proximity to Employment & Healthcare: Convenient access to major area employers and healthcare providers, including HCA Florida hospitals (Oak Hill and Bayonet Point), TGH Brooksville, and the retail and service corridors along US-41/SR-50 and US-19
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