$3,200,000

702 E 113th Avenue #28

TAMPA FL, 33612

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.

Details

MLS#T3191611
Sub-TypeResale
StatusActive
Year1983
Days On Site130

Features

SQ Feet25,220
Units28
Building(s)8

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Area Information

StateFL
CountyHillsborough
CityTAMPA
Zip Code33612
Area33612 - Tampa / Forest Hills
Listing VS Median (in 33612)
Price:
$3,200,000
low | high
Med:
$179,500
100% of Average
SqFt:
25,220
low | high
Med:
1,282
100% of Average
$ / SqFt:
$127
low | high
Med:
$140
39.65020475819% of Average
On Site:
130
low | high
Med:
74
100% of Average
Listing Updated: 12/13/2019
MLS Number: T3191611
Listing Provided By:
Ernest Harpster III  of  LA ROSA REALTY LLC

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