701 W Plaza Place, Tampa, FL 33602

Description

Located in the heart of Riverside Heights just 3/4 mile from Armature Works, Ulele, and the River Walk, this quadplex is located in one of Tampa's most sought after areas with tons of new development and high demand for both long-term and short-term rentals! The property consists of three wood-frame buildings: The front building houses Unit A & B. Unit A is a spacious 1-bedroom, 1-bath with large living and dining rooms and almost 800 sq ft of living space. Unit A was renovated in 2019 with an updated kitchen, granite countertops, and stainless appliances, new tile and water-resistant laminate flooring, and new tile surround in the bathroom. This unit has an indoor laundry room with washer/dryer hookups and newer (2018) central HVAC. Unit A was rented for $1175/mo until Dec 2021, but was left vacant for sale. Market rent is $1250/mo. Unit B is a spacious 600 sq ft 1/1 that had the kitchen and bathroom updated in 2018. This unit is currently rented for $950/mo. The middle building is a 384 sq ft detached 1/1 apartment (Unit D) that has been rented for $925/mo but will have a routine vacancy as of 1/31/22. The rear building is a 576 sq ft detached 2/1 apartment (Unit C) that is currently rented for $995/mo. Units B, C and D have window AC units. Units are metered separately for electric (tenants pay electric). There is one water meter - City of Tampa provides water/sewer/garbage via one account (some tenants pay a flat rate monthly utility fee to the owner depending on their lease terms). The property has a history of very low vacancy as a long term rental for the past several years, but could also present a short term rental and/or future redevelopment opportunity due to the attractive location and large (64 x 140) lot. Roofs on all three buildings were replaced in 2018, and the main sewer line was replaced in 2020. See MLS attachments for more details including rent roll and video walk-throughs.