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$800,000
$835,000
4.2%For more information regarding the value of a property, please contact us for a free consultation.
6,496 SqFt
SOLD DATE : 07/16/2021
Key Details
Sold Price $800,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,496 sqft
Price per Sqft $123
Subdivision Temple Terraces
MLS Listing ID U8107488
Sold Date 07/16/21
Construction Status Appraisal,Financing
HOA Y/N No
Year Built 1982
Annual Tax Amount $5,344
Lot Size 6,534 Sqft
Acres 0.15
Property Description
Don't look past these 8 Value Add Multifamily units in Tampa! The Property consists of two 4 unit buildings with below market rents and one vacancy. The Seller completed major renovations on each building, including but not limited to plumbing, HVAC, roof, bathrooms, and kitchen countertops. While both buildings still require some work to reach its fully stabilized value, this is the ideal investment for an investor willing to put in the work!
Current Annual Scheduled Gross Income is $77,760, with a Pro Forma Gross Rental Income of $91,200 after rents are brought to a market value. All units except for one are occupied. An investor has the opportunity to stabilize the investment at a Prop Forma Cap Rate of around 6.35%.
Location
State FL
County Hillsborough
Community Temple Terraces
Zoning RM-24
Interior
Heating Other
Cooling Central Air
Fireplace false
Exterior
Exterior Feature Other
Utilities Available Other
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Structure Type Stucco
New Construction false
Construction Status Appraisal,Financing
Others
Senior Community No
Ownership Fee Simple
Special Listing Condition None
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Bought with COLDWELL BANKER SARASOTA CENT.