$610,000
$579,000
5.4%For more information regarding the value of a property, please contact us for a free consultation.
2,080 SqFt
SOLD DATE : 05/16/2022
Key Details
Sold Price $610,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,080 sqft
Price per Sqft $293
Subdivision East Tampa
MLS Listing ID T3368736
Sold Date 05/16/22
Construction Status Inspections
HOA Y/N No
Year Built 1949
Annual Tax Amount $4,073
Lot Size 9,583 Sqft
Acres 0.22
Lot Dimensions 95x100
Property Description
Incredible opportunity to own this 4-unit multifamily property located in the Port of Tampa (Palmetto Beach) neighborhood, just minutes to Ybor City, Channelside and Downtown Tampa Bay. Currently, all units are tenant occupied and below market rate providing a perfect value add opportunity for the new buyer. Unit mix consists of a 3 bed, 1.5 bath, a 1 bed, 1 bath, and two studio units with ally access off the back of the property. Not to mention, an in-ground pool as an added amenity for your tenants. The property currently operates at a 4.1% CAP rate, however, Increasing the rents to market rate put it at a 7% CAP rate. Perfect opportunity for an Investor looking for passive income in an area expected to see great equity growth over the next few years. Also, potential for an owner occupant to live in one unit and have the other tenants pay your mortgage. Hardly any Quadplex options in all of the Greater Tampa Area around this price point.
Location
State FL
County Hillsborough
Community East Tampa
Zoning RM-16
Interior
Interior Features Ceiling Fans(s), Crown Molding, Thermostat
Heating Central, Wall Units / Window Unit
Cooling Central Air, Wall/Window Unit(s)
Fireplace false
Exterior
Exterior Feature Fence
Parking Features On Street, Parking Pad
Pool In Ground
Utilities Available BB/HS Internet Available, Cable Available, Cable Connected, Electricity Available, Electricity Connected, Public
Roof Type Built-Up, Shingle
Garage false
Private Pool Yes
Building
Lot Description City Limits
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block, Wood Frame
New Construction false
Construction Status Inspections
Schools
Elementary Schools Desoto-Hb
Middle Schools Giunta Middle-Hb
High Schools Blake-Hb
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA, VA Loan
Membership Fee Required None
Listing Terms Cash, Conventional, FHA, VA Loan
Special Listing Condition None
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Bought with FRANK ALBERT REALTY