210 E Plymouth Street, Tampa, FL 33603

Description

This is your rare opportunity to own a freshly renovated quad close to downtown Tampa in the highly coveted 33603 zip code. The property consists of 2 duplexes on the same parcel for a total of 4 units, (3) 1 bedroom/1 bath units & (1) 2 bedroom/1 bath unit. The 2 story duplex located at 210 Plymouth St houses 2 of the 1 bedroom units, each are leased at $1500/mo and are 624sf a piece, with the downstairs offering a fenced in yard and the upstairs offering both a balcony and front deck. The bungalow duplex at 301 E Janette Ave houses the 2 bedroom unit with a large front porch and lots of curb appeal which currently is leased for $1800/mo, while also housing another 1 bedroom unit with a large fenced yard which is freshly vacated and being listed for $1600/month. This will bring total monthly rent to $6,400 with total annual income of $78,800. Owner expenses are exceedingly low as the property has been fully remodeled resulting in little to no maintenance, low property taxes of $2,875.38 last year, low insurance around $3k/annual, and tenants pay electric while owner pays water of around $100/mo. This already results in a pro forma cap rate of over 8%, which will only go up! Between the property use code and abundance of cleared land on the lot it is also prime to add more units. These units all feature stainless steel appliances, including in unit laundry, waterproof LVP flooring, a new roof on the bungalow, newly refinished metal roof on the 2 story, freshly added central air in the bungalow, new plumbing, upgraded cabinets, & quartz counter tops.

Listed by Josh Neighoff, .