$799,000
Active · 152 days on market · MLS# MFRU8183779
| Bedrooms | 11 |
|---|---|
| Living area | 3,129 sq ft |
| Lot size | 0.24 acres |
| Year built | 1910 |
| Property type | Quadruplex |
| Private pool | Yes |
| Waterfront | Yes |
| Annual taxes | $4,622 |
| County | Hillsborough |
Recently renovated quad close to downtown Tampa in the highly coveted Tampa Heights. The property consists of 2 duplexes on the same parcel for a total of 4 units, (3) 1 bedroom/1 bath units & (1) 2 bedroom/1 bath unit. The concrete block 2-story duplex in the back was built in 1946 with a 2-bedroom unit (currently vacant and available to show), 1-bedroom unit and 459 SF storage room that could be converted to rentable space. The 2-bedroom unit is 918 SF and is currently vacant and available to show with market rent of $1800/mo. The bungalow duplex in the front houses 2 1-bedroom units with a large front porch and lots of curb appeal which currently is leased for $1500 and $1400/mo. The total potential monthly rent is $6,500 with total annual income of $78,000 results in 8.6% cap rate. Owner expenses are low as the property has been fully remodeled resulting in little to no maintenance, property taxes of $4,622 this year, low insurance around $2k/annual, and tenants pay electric while owner pays water of around $200/mo. Increasing rent to market results in a pro forma cap rate of 8.6% with opportunity to add more value with storage space conversion to rentable space. These units feature stainless steel appliances, including in unit laundry, waterproof LVP flooring, a metal roof on the bungalow, central air in 2 units, upgraded cabinets, granite counter tops and updated plumbing and electrical. Property has large private parking area for 8 cars which is not typical for the area. Most properties in the area have very limited parking and/or street parking.
Listing courtesy of Jack Keller, JACK KELLER INC. Presented by MC Homes Realty Inc · 727432218.