10 Unit Multi Family near USF in Tampa $457,000

[Devon Garbus]

This is an off market rental opportunity. Primary info is below. One of the cottages is being used for storage and 4 units were recently vacated, so that's a rent increase immediately. All the other rents can be slowly increased. Added bonus as detailed below is the density allows for you to build more units! Current leases can be provided.

This is a value add play, when fully occupied and brought to market rate rents would be $600 per unit

11720 N. 15th St., TAMPA, FL 33612 -10-RENTAL UNITS.- PRICE: $457,000

(Approximately 200' north of E. Fowler Ave., on 15th Street)

HILLSBOROUGH COUNTY PROPERTY FOLIO NUMBER 035998-0000

This property is approximately 0.8934 Acres/38,917 square feet and Zoned RMC-16 Residential Multifamily Conv. 16 UTS/Acre, with land tobuild more units. Property is high and dry.

Rents are currently low, but subject to rent increases.

Property tax: FY -2016 - $3,133.05/Yr.

Insurance FY -2016 - $ 8,889.00/Yr.

Business tax FY- 2016 - $ 125.00/Yr.

Refuse Service (Dumpster) - $ 90.00/Mo.

TECO - Electricity for Well Pump - $ 33.82/Mo.-Average (Water service for all units)

Health Department Water Test - $ 20.00/Quarterly

New roofs on all units in 2011. I have the lease agreements for five units Apts. 2B, 3A, 4B, 5A, 5B. Lease agreement for new tenant, Jorge G. Jimenez - Apt. 3B is not yet available, but will send it to you as soon as it is executed.

Except for Apt. 4B (up on Oct) and Apt. 3B, tenancy for all of the others are now on a month-to-month basis.

Four Apts. 2A, 4A, 6 and 7 are currently vacant.