409 E Floribraska Avenue, Tampa, FL 33603

Description

Recently renovated quad 1 mile from downtown Tampa in the highly coveted Tampa Heights. 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 in the back is concrete block with a new roof in 2023, a 2-bedroom unit and a 459 SF storage room that could be converted to rentable space. The 2-bedroom unit is 918 SF and is currently rented for $1,800/mo. The 1-bedroom unit is currently rented for $1,400/mo. The bungalow duplex in the front houses 2 1-bedroom units with a large front porch and lots of curb appeal. One unit is rented for $1,500/mo and the other is recently vacant and will also rent for $1,500/mo. The total monthly rent is $6,200 and annual rent is $74,400 resulting in 7% cap rate with opportunity to add value with storage space conversion to rentable space. The units feature stainless steel appliances, in unit laundry, waterproof LVP flooring, a metal roof on the bungalow, new roof on the 2-story building, central air in 2 units, upgraded cabinets, & granite countertops. There is a large off-street parking area for 10 cars in between the 2 buildings and a private yard behind the back building. Also, the back building was fumigated in 2023 and all plumbing and electrical has been updated over the past several years.

Listed by Jack Keller, .