702 E 113th Ave #28, Tampa

$3,200,000

Active
0 Beds
0 Baths
25,220 Sqft
2.36 Acres
0 Garages

Hard to find medium size multifamily income property with 8.0% Cap rate on cash sale basic 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 a pvt owned complex! Each unit with 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 this investment 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 and must qualify. Has an affordable leased storage shed & office trailer on site. Self managed! EZ to keep rented! No comparison in Tampa! Decided giving up opportunity & retire to travel as last child is in college. All information deemed reliable but subject to verification of buyer & buyer agent.

Essential Information
MLS® # T3191611
Price $3,200,000
Bathrooms 0.00
Square Footage 25,220
Acres 2.36
Year Built 1983
Type Income
Sub-Type Multi-Family
Status Active
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Neighborhood Information for 702 E 113th Ave #28

Moderate Residential Turnover

Weather

  • Highs

    • January 70.10℉
    • July 89.70℉
  • Lows

    • January 52.40℉
    • July 75.30℉
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    Precipitation

    • 44.77"
   
Great Schools School Name Distance  

Brooks Debartolo Collegiate High School

Public - 9th Grade to 12th Grade
0.2 Miles

Prince Private Academy

Private - Kindergarten to 12th Grade
0.6 Miles

Miles Elementary School

Public - Preschool to 5th Grade - Closest Elementry School
0.6 Miles

West University Charter High

Public - 9th Grade to 12th Grade
0.6 Miles

Shaw Elementary School

Public - Preschool to 5th Grade
0.7 Miles

Mount Pleasant Standard Base Middle School

Public - Kindergarten to 8th Grade
0.8 Miles

Morning Star School Tampa

Catholic - 1st Grade to 8th Grade
0.8 Miles

School data provided by GreatSchools

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Listing data comes from My Florida Regional MLS DBA Stellar MLS.

Listing information last updated on September 22nd, 2019 at 6:00am EDT.