About 4954 Bitner Street
New Port Colony | 36-Unit Multifamily Investment | New Port Richey, FL | 10% Cap Rate. If you've been searching for a turnkey multifamily investment that truly checks every box, New Port Colony deserves your full attention. This 36-unit, 55+ community in New Port Richey, Florida is generating a 10% cap rate — and once you understand what's included, it's easy to see why. The unit mix is well-balanced, with 19 one-bedroom/one-bath, 13 two-bedroom/one-bath, and 4 two-bedroom/two-bath homes, all within a single complex. Every unit has been updated and comes equipped with central heating and air. And here's what really sets this property apart: all 36 units have their own private garage — washer/dryer hookups in the garage of each unit. Residents get their own parking and their own laundry, all tucked right outside their door. There's a pool, shuffleboard, and a neighborhood feel that residents take pride in. Residents have the option to join the Gulf Harbors Beach Club — one of the only private Gulf-front beach clubs in the area — for just $200 a year. It's a small cost that adds a lifestyle element most apartment communities simply can't offer. Day-to-day living is easy. Groceries, restaurants, shopping, and medical facilities are all close by, which matters a great deal to the 55+ residents who call this place home. The 55+ demographic is one of the most stable tenant bases in residential real estate — low turnover, consistent payment history, and genuine pride of residency. New Port Colony reflects all of that. Strong returns, updated units, a private garage, and a beach club down the road.
Features of 4954 Bitner Street
| MLS® # | W7885450 |
|---|---|
| Price | $2,800,000 |
| Bedrooms | 53 |
| Bathrooms | 40.00 |
| Square Footage | 801 |
| Year Built | 1973 |
| Type | Residential Income |
| Sub-Type | Triplex |
| Status | Active |
Listing Details
| Office | RE/MAX MARKETING SPECIALISTS |
|---|
Listing Map
Neighborhood Information for 4954 Bitner Street
Low Residential Turnover, Coastal Area, Suburb of Tampa
Statistics
Number of Listings
Population Age
Home Listings Prices
Nearby Schools
| Great Schools | School Name | Distance | |
|---|---|---|---|
|
James M. Marlowe Elementary School Public - Preschool to 5Th Grade - Closest Elementry School |
1 Miles | |
|
|
Schwettman Education Center Public - 6Th Grade to 12Th Grade |
1 Miles | |
|
Gulf High School Public - 9Th Grade to 12Th Grade - Closest High School |
1 Miles | |
|
Gulf High Adult Education Public - 9Th Grade to 12Th Grade |
1 Miles | |
|
|
Esther's School Private - Kindergarten to 12Th Grade |
1 Miles | |
|
|
Mittye P. Locke Elementary School Public - Preschool to 5Th Grade |
1 Miles | |
|
|
Esther's School - New Port Richey Private - to |
1 Miles |
School data provided by GreatSchools