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Key Details
Sold Price $305,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,030 sqft
Price per Sqft $150
Subdivision Tampa Tourist Club
MLS Listing ID U8126991
Sold Date 09/21/21
Construction Status Inspections
HOA Y/N No
Year Built 1930
Annual Tax Amount $2,219
Lot Size 0.280 Acres
Acres 0.28
Lot Dimensions 300x40
Property Description
Massive Price Reduction & the capitalization rate on the duplex speaks volumes. Excellent cash flowing property with long term tenants in place. There are 2 separate buildings providing a 4BR/2BA, a 2BR/1.5BA duplex and a partially finished garage conversion. Seller is offering property at 9.67% Gross Cap Rate based on new list price with conversion the rate of return can be above 12%. There is plenty of room to maximize your margins. Investors take note as Seller says make it a Win-Win by offering below current market value based on GRM Analysis (attached). Best of all, the Seller did not just purchase and let the tenants pay rent. The Capital Improvements are endless meaning your needed contributions are minimal and cosmetic. Improvements include a New Roof (2018, 2021), New Cabinetry (2018), New Electrical Panel (2018, New A/C Unit (2018), New Flooring (2020), New Bathroom Vanities (2018, 2020)as well as New(2021) Windows, Doors, Siding and Roof on conversion. Everything on the exterior of conversion has been done. This property just makes sense as it is zoned RDC-12 meaning up to 12 units per acre. Better still, the property is surrounded by single family homes which shows in the upkeep of the neighborhood and is within five to fifteen minutes of varying area attractions such as downtown Ybor, TIA or MacDill AFB. Please do not disturb tenants. Leases are available upon request. Property is being sold As-Is.
Location
State FL
County Hillsborough
Community Tampa Tourist Club
Zoning RDC-12
Interior
Interior Features Kitchen/Family Room Combo, L Dining, Other
Heating Central, Wall Units / Window Unit
Cooling Central Air, Wall/Window Unit(s)
Flooring Carpet, Tile
Furnishings Unfurnished
Fireplace false
Appliance Range, Refrigerator
Exterior
Exterior Feature Fence, Lighting, Sidewalk
Garage Spaces 2.0
Utilities Available Public
Roof Type Shingle
Attached Garage false
Garage true
Private Pool No
Building
Lot Description Corner Lot, City Limits, In County, Level, Oversized Lot, Sidewalk, Paved
Entry Level Two
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Structure Type Block,Vinyl Siding,Wood Frame
New Construction false
Construction Status Inspections
Schools
Elementary Schools Kenly-Hb
Middle Schools Mann-Hb
High Schools Blake-Hb
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Bought with PINEYWOODS REALTY LLC