$2,900,000
$3,200,000
9.4%For more information regarding the value of a property, please contact us for a free consultation.
25,220 SqFt
SOLD DATE : 06/25/2020
Key Details
Sold Price $2,900,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 25,220 sqft
Price per Sqft $114
Subdivision Unplatted
MLS Listing ID T3191611
Sold Date 06/25/20
Construction Status Financing,Inspections
HOA Y/N No
Year Built 1983
Annual Tax Amount $28,795
Lot Size 2.360 Acres
Acres 2.36
Lot Dimensions 0x0x0x0
Property Description
Back on Mkt! Hard to find medium size multifamily income property with 8.0% Cap rate on cash sale base numbers! Great location surrounded by quiet single family homes. 28 -2 bed rm 1.5 bath 2 story town homes ! Not 4 plexes! No HOA pvt owned complex! Each unit has individual laundry closets & Central Air! 20 units remodeled now with new kitchen & bath cabinets with granite counters! Each re-painted & re-carpeted before rental. Now at current max rate for new Sec 8 lease in this zip code of $1045/mo which owner includes water sew & garbage. Get half the monthly income directly from sec 8!..renewals of sec 8 can be raised with mkt rents. Owner also gets security deposit equal to rent at move in. Could add private water metering & 3rd party billing to gain extra income. Great location only 1.5 miles to the soon redeveloped University mall, 2.0 miles to USF and 2.5 miles to new VA addition, & new Hospital addition. Only 3 blocks to I275! Great upside to investment in this location! Short walk to bus stop on Nebraska or to Fowler but plenty of parking lot for all the tenants. Currently doing RR on exterior and re painting (2 Buildings done) & couple roofs redone. Can consider assuming 4.03% loan of 1.2mil with 8 yrs left must qualify. Has an affordable leased storage shed & office trailer on site. Self managed! EZ to keep rented! No comparison in Tampa! Decided give up opportunity & retire to travel as last child is in college. All information deemed reliable but subject to verification of buyer & buyer agent.
Location
State FL
County Hillsborough
Community Unplatted
Zoning PD
Interior
Interior Features Living Room/Dining Room Combo, Solid Surface Counters, Window Treatments
Heating Central, Electric
Cooling Central Air
Flooring Carpet, Ceramic Tile, Laminate, Vinyl
Fireplace false
Appliance Electric Water Heater, Range, Range Hood, Refrigerator
Laundry Laundry Closet, Other
Exterior
Exterior Feature Lighting
Parking Features Common, Off Street, Open, Oversized
Utilities Available Electricity Connected, Public, Sewer Connected
Roof Type Shingle
Porch Covered, Rear Porch
Garage false
Private Pool No
Building
Lot Description City Limits, Near Public Transit, Oversized Lot, Paved
Lot Size Range Two + to Five Acres
Sewer Public Sewer
Water Public
Structure Type Block,Stucco,Wood Frame,Wood Siding
New Construction false
Construction Status Financing,Inspections
Schools
High Schools Wharton-Hb
Others
Senior Community No
Ownership Fee Simple
Special Listing Condition None
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