Photo 1 of 1
$700,000
Sold on 6/28/21
| Beds |
Baths |
Sq. Ft. |
Taxes |
Built |
|
0.00 |
3,456 |
$6,929 |
1983 |
|
On the market:
56 days
|
View full details, photos, school info, and price history
New roof and completely renovated unit leased at market rate! VALUE ADD PROPERTY. Excellent income opportunity 2 duplex buildings in the heart of South Tampa! All units are very easily rentable as in highly desirable area in growing Port Tampa; close to Westshore Yacht Club and Westshore Marina District. 3 of the tenants are long-standing tenants with more dated apartments, so room to maximize rents
and create more value. Each unit has a large 1,700 sq ft garage. There may even be opportunity to convert these into more apartments.
Tenants pay for water, sewer, electricity and garbage. Current contracted gross rental income is $54,000/year. Attainable gross rents of $67,200/year, based on increasing tenants to market rent of $1400/month. This affords a cap rate of 7% at a pro forma NOI of $52,008/year. See attached Pro Forma and Rent Roll. DO NOT DISTURB TENANTS.
Listing courtesy of Rachel Phillips, HIGHMARK REAL ESTATE