About 5050 74th Street N 1
10% CAP RATE!!! FOUNDATION REPAIRS COMPLETED!!! ADDITIONAL WATERFRONT LOT INCLUDED!!! ZERO DAMAGE FROM EITHER HURRICANE!!! PHENOMENAL MULTI UNIT INVESTMENT OPPORTUNITY WITH 6 UNITS PRICED FOR AN IMMEDIATE SALE IN A GREAT ST. PETE NEIGHBORHOOD WITH 135Ft OF WATER FRONTAGE!!!! Fully occupied cash generating investment property and all tenants are on MONTH TO MONTH AGREEMENTS!!! 3 two bedrooms 1 bath 2 studio 1 one bed one bath, fully occupied currently, opportunity to renovate units and raise rents. CURRENT RENTS ARE AS FOLLOWS: $1,800, $1,800, $1,800, $1,200, $1,200 $1,150 Total: $8,950 per month and $107,400 total income per year!!! Expenses: $250 per month for water garbage pickup $94 per month, $4,128 annually. Taxes $6,800 annually and Insurance $4,103 annually, never flooded in the last 20 years! Total expenses annually : $15,031 Net annual profit roughly: $92,368!!! Opportunity for laundry in the back, no laundry onsite currently, could be income producing laundry building onsite to be built as ADU type building. Upgraded plumbing 4 years ago Upgraded electrical 4 years ago Air condition 4 years old Central air. 10% cap rate with opportunity to boost to 12-15% cap rate with rent raise and laundry area addition!!!
Features of 5050 74th Street N 1
| MLS® # | TB8303107 |
|---|---|
| Price | $975,000 |
| Square Footage | 3,409 |
| Acres | 0.36 |
| Year Built | 1980 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Listing Details
| Office | LPT REALTY |
|---|
Listing Map
Neighborhood Information for 5050 74th Street N 1
Stable Population, Low Residential Turnover, Coastal Area, Suburb of Tampa
Statistics
Number of Listings
Population Age
Home Listings Prices
Nearby Schools
| Great Schools | School Name | Distance | |
|---|---|---|---|
|
Seventy-Fourth St. Elementary School Public - Preschool to 5Th Grade - Closest Elementry School |
1 Miles | |
|
Northside Christian School Private - Preschool to 12Th Grade - Closest Middle School |
1 Miles | |
|
|
Blanton Elementary School Public - Preschool to 5Th Grade |
1 Miles | |
|
Plato Academy Of St Petersburg Public - Preschool to 3Rd Grade |
1 Miles | |
|
|
Ese Countywide Public - Preschool to 12Th Grade - Closest High School |
1 Miles | |
|
Dixie M. Hollins High School Public - 9Th Grade to 12Th Grade |
1 Miles | |
|
|
Dixie Hollins Adult Education Center Public - to |
1 Miles |
School data provided by GreatSchools