Property
| Ownership: | Fee Simple |
|---|---|
| Type: | Unknown |
| Bedrooms: | 16 BR |
| Bathrooms: | 8 |
| Area: | 5616 sq ft |
| Lot Size: | 0.5 Acres |
Financials
Price:$1,475,000
Annual Taxes:$17,736.57
Listing Courtesy of LIPPLY REAL ESTATE
EIGHT UNIT MULTIFAMILY INVESTMENT OPPORTUNITY IN TAMPA'S UNIVERSITY AREA !
Description
EIGHT-UNIT MULTIFAMILY INVESTMENT OPPORTUNITY IN TAMPA'S UNIVERSITY AREA! Situated on approximately 0.52 acres, this property features eight 2-bedroom, 1-bathroom apartments across four separate, single-story concrete-block duplex buildings. Conveniently located near the University of South Florida, major employment centers, shopping, dining, and interstate access, this property offers an attractive opportunity for investors seeking a multifamily asset with significant rental income potential.
Current ownership has invested extensively in property improvements, with an emphasis on quality materials, durability, and long-term value. Renovated units feature upgrades such as granite and quartz countertops, tile flooring, beautifully tiled tub surrounds, updated kitchens and bathrooms, and other modern finishes. Additional property improvements include replacement windows in numerous units, attractive black aluminum perimeter fencing, landscaping, and palm trees. Renovation levels and finishes vary by unit.
FOUR UNITS CURRENTLY OCCUPIED AND FOUR VACANT, providing the next owner with the flexibility to establish new leases at market rates while benefiting from existing rental income. Current occupied rents total $5,875 per month, with estimated market rental potential of $12,125 per month ($145,500 annually) at full occupancy. Unit A also has a scheduled rent increase during the second year of its lease. Tenants are responsible for their individual electric utilities, while ownership provides water and sewer service.
With its solid concrete-block construction, desirable all-2-bedroom unit mix, substantial owner improvements, and opportunity to increase occupancy and rental income, this property presents a compelling investment opportunity in Tampa's University Area. Offering Memorandum, rent roll, and additional financial information available upon request.
Amenities
- Bb Hs Internet Available
- Cable - Available
- Cable Connected
- Ceiling Fans(S)
- Electricity Available
- Electricity Connected
- Electric Water Heater
- Exhaust Fan
- Fence
- Landscaped
- Lighting
- Living Room/Dining Room Combo
- Paved
- Primary Bedroom - Main Floor
- Private Mailbox
- Private yard
- Range
- Range Hood
- Refrigerator
- Sewer Connected
- Sidewalk
- Solid Surface Counters
- Stone Counters
- Water Connected
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.