UPDATED:
12/07/2024 12:58 AM
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,424 sqft
Price per Sqft $261
Subdivision Hillsborough Heights East A Re
MLS Listing ID T3535251
HOA Y/N No
Originating Board Stellar MLS
Year Built 1974
Annual Tax Amount $14,347
Lot Size 0.680 Acres
Acres 0.68
Property Description
****** Please bring all offers, seller likes to negotiate! 100% occupied 6 Duplexes for Sale. Prime Investment Opportunity!**
This exceptional investment opportunity features six duplexes, totaling 12 income-producing units, all conveniently located next to each other. Situated in the heart of Tampa. Each unit features 2 bedrooms and 1 bathroom. Tenants pay all utilities, reducing landlord expenses
Each unit has separate water and electric meters. Landlord only pays for landscaping, Taxes, Sewage & Insurance. One unit recently rented for $1,563/month. Tampa Housing Authority offers $1,771/month for 2-bedroom, 1-bathroom units in the same zip code
Property is currently rented for $11,113 per month, equating to an annual gross income of $133,356
The property is currently under-rented, providing significant potential to increase rents to market rates. Tampa housing shows a payment standard of $1771 a month if you were to get all units rented with Tampa housing that’s a potential annual gross rent of $21,252 per month X 12 months = $255,024
With tenants responsible for their utilities and minimal landlord expenses, these units generate substantial rental income.There's significant potential to increase rents to match market rates, maximizing returns on investment.Proximity to major amenities and transportation hubs ensures high demand and occupancy rates.These properties offer easy access to shopping centers, gyms,Hard Rock Casino,Walmart, USF, I-275, I-4, Busch Gardens, Downtown Tampa, and more.
Schedule a viewing today to explore this cash cow investment before it's no longer available. This is a prime opportunity to secure a high-yield property in a rapidly growing area. *** Potential seller financing available with 50% down.
Total Income - $11,113per month X12 month = $133,356 Gross annual rent
Expenses -
Insurance $18,000 annual
Taxes $14,347.48
Lawn care $3600 annual
Annual Expenses =$35,947.48-$133,356 Gross rents =
Net Income $97,408.52
4507 E Giddens ave Tampa Florida 33610
Unit A - $1563 lease ends 06/2025
Unit B- $1,000 month to month
=$2536 per month
4509 E Giddens ave Tampa Florida 33610
Unit A -$1000 month to month
Unit B -$850 month to month
=$1850 per month
4511 E Giddens ave Tampa Florida 33610
Unit A -$825
Unit B -$900 month to month
=$1725 per month
4513 E Giddens ave Tampa Florida 33610
Unit A-$800 month to month
Unit B-$900 month to month
=$1700 per month
4515 E Giddens ave Tampa Florida 33610
Unit A -$850 month to month
Unit B -$900 month to month
=$1750 per month
4517 E Giddens ave Tampa Florida 33610
Unit A-$800 month to month
Unit B-$725 month to month
=$1525 per month
Tampa housing payment standard
https://www.tampaha.org/payment-standards
Location
State FL
County Hillsborough
Community Hillsborough Heights East A Re
Zoning RM-16
Interior
Interior Features Living Room/Dining Room Combo
Heating Central, Electric
Cooling Central Air
Fireplace false
Laundry None
Exterior
Exterior Feature Other
Utilities Available Electricity Available, Water Available
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 1/2 to less than 1
Sewer Septic Tank
Water Public
Structure Type Block
New Construction false
Others
Senior Community No
Ownership Fee Simple
Special Listing Condition None
Learn More About LPT Realty