8720 N 48TH ST Tampa, FL 33617
UPDATED:
11/02/2024 03:55 AM
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,576 sqft
Price per Sqft $1,586
Subdivision Druid Hills Rev
MLS Listing ID T3521135
Bedrooms 32
HOA Y/N No
Originating Board Stellar MLS
Year Built 1972
Annual Tax Amount $3,468
Lot Size 1.040 Acres
Acres 1.04
Property Description
Rare investment package of EIGHT solid BLOCK CONSTRUCTION DUPLEXES, totaling 16 UNITS spread across 8 parcels.
Each duplex boasts 2 bedrooms, 1 bathroom, a laundry room, and individual fully fenced yards, offering tenants privacy and comfort. With 2 dedicated parking spots per unit, convenience is key for residents.
Generating an impressive annual gross income of $259,200 and an annual net income of $168,400, this portfolio promises a lucrative return on investment from day one.
While the properties are already performing admirably, there's ample room for improvement and updates, offering significant upside potential for rent increases and enhanced returns.
The owner has installed 4 brand new ACs, Upgraded Plumbing, and Renovated Units when tenants moved out. However, with some additional upgrates such as vinyl floor and granite counter tops, these units can be rented at $1700/month as market rent, which would equal $326,400 in annual gross income.
The majority of units are currently leased, ensuring a stable income stream and minimizing vacancy risks. Plus, tenants are responsible for utilities (water, trash, electric), simplifying management and maximizing profitability.
The properties have low vacancy rate and offer affordable yet comfortable living spaces for residents.
Not in a flood zones. Easy access to amenities and transportation, these duplexes are strategically located for long-term success.
SERIOUS INQUIRIES ONLY, don't let this opportunity pass you by. *Proof of funds required for showings.* The seller is offering the entire portfolio as a package deal, presenting a rare chance to build wealth through real estate in one of Florida's most dynamic markets.
8720 N 48th St, Tampa, 8722 N 48th St, Tampa; 8723 N 48th St, Tampa; 8724 N 48th St, Tampa;
8726 N 48th St, Tampa; 8728 N 48th St, Tampa; 8730 N 48th St, Tampa; 8732 N 48th St, Tampa.
Contact us to schedule a showing or obtain additional information.
Location
State FL
County Hillsborough
Community Druid Hills Rev
Zoning RM-16
Interior
Interior Features Walk-In Closet(s)
Heating Central, Wall Units / Window Unit
Cooling Central Air, Wall/Window Unit(s)
Fireplace false
Appliance Range, Refrigerator
Laundry Inside, Laundry Room
Exterior
Exterior Feature Fence
Parking Features Common
Utilities Available Cable Available, Electricity Connected, Sewer Connected, Water Connected
Roof Type Shingle
Garage false
Private Pool No
Building
Entry Level One
Foundation Slab
Lot Size Range 1 to less than 2
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Schools
Elementary Schools Kimbell Elementary School
Middle Schools Greco-Hb
High Schools King-Hb
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
