Size Upon Req.$132,000
Recently renovated, lots of updates, good upside with RDC-12 zoning for another unit.
Annie Apartments is a 36-unit apartment community located in the city of Tampa, Florida. Built in 1983, the complex is situated on approximately a one-acre lot, consisting of nine, two-story buildings constructed of concrete block and stucco. The property is comprised of all two-bedroom/one-bathroom units which are approximately 850 rentable square feet. Property amenities include private patios/balconies, central air-conditioning, and washer and dryer connections in all the units. Recent renovations to the property include new unit interiors which consist of tile flooring and updated cabinetry in 30 of the 36 units, recently painted exteriors for each building, resurfaced parking lot, newly replaced central HVACs in a majority of the units and recently renovated balconies. The roofs were also all replaced on every building two years ago. This is a major value add play with the opportunity for a 11% Cap as rents are well below market value.
This offering consists of three Quads (12-units). Each Units is approximately 920 sq ft of heated living space with 2 bedrooms and 1 full bath. All units are leased to long term tenants with each tenant paying $760/mo. The surrounding rental units in the area are renting for $750-$800/mo per unit. Current Gross Income is $109,440 and NOI is $85,813. Asking price is $780,000 offering an 11% Cap Rate. The Seller has replaced all of the roofs Seller is asking $780,000 for all three Quads but is willing to sell them individually as well. He may be more negotiable with the price on the sale of all three.
This is a 24-unit Condo Portfolio. This is a Bank approved Short Sale. The Seller/Bank will consider ONLY ALL CASH OFFERS WITH NO FINANCING CONTINGENCY. Price is negotiable and an acceptable price will be determined by how quickly the Buyer can close. All units are 879 sf with 2-bed/2baths. Currently there are 17 units leased at an average $650/unit with 7 vacancies. Seven of the units need repairs/upgrades in order to become rent ready. Seller has received a $29,000 bid for repairs for all units. Current Market Rent for units in this complex is $750-$800K. HOA is $275/mo and Property Taxes are $56/mo. Condo Sales in the area within the last six months indicate an average sales price of $41,000/unit Buyer must also consider a $100,000 HOA back-pay as well as $30,000 property taxes that must be settled at closing.
HUGE OPPORTUNITY: Foreclosure sale (not a Short Sale). 16 Unit apartment complex walking distance to riverfront. Title is clear and ready to close.* Value add opportunity thru addition of exterior curb appeal and professional management. Riverside Gardens consists of a total of 16 units; all 2 Bedrooms and 1 bath, each measuring approximately 700 ± square feet. Built in 1982 of concrete block construction, there are four 2-story buildings with four units each. The exterior of the buildings have been recently repainted along with brand new replacement of all staircases. The interiors of two of the units have been repainted and carpets replaced. All units have central heat and air. This multifamily property is an excellent opportunity to invest in an asset with value. Cost Analysis Performed as Rental Property In: Rent - $120,000.00 Out: (Annual) Actual Taxes - $6,401.52 (Annual) Estimated Insurance - $8,313.00 (Annual) Property Management (Optional) - $8,400.00 (Annual) Estimated Utilities/Lawn/Misc - $6,018.00 Total Costs - $29,132.52 Earn: Total yearly net equates to - $90,867.48 Total monthly gross at full occupancy equates to - $10,000.00
Zoned AS-1 Fully Rented. 2 parcels with 3 buildings: concrete block duplex + concrete block triplex + stand-alone wood frame house = 10 bedrooms / 6 baths on large wooded lot. Quiet dead-end street near Interstate 275 and Bearss Ave., 10 minutes from University of South Florida, VA Hospital, Moffitt Cancer Center, Pepin Heart Hospital. Positive Cash Flow Income Property. Great for 1031 exchange and over 11% CAP Rate. Rent roll attached, Income just increased 5-1-14 from $4,045 to $4,120/monthly. PLEASE DO NOT DISTURB TENANTS.
This property sits on a large corner lot, lots of parking and space. Great location near bakeries, attorneys etc... This property is zoned RS-50 60x136. This property could easily be converted to a business as well. It has great bones just needs someone to update it to their liking. Call today to see this great property.
This 3BD/1BA block home is a wonderful opportunity for someone looking to purchase a house that needs some fixing up. The home features ceramic tile and carpet throughout. A spacious back yard an open patio is great for entertaining or relaxing. Located in Progress Village, this property provides easy access to Brandon and downtown Tampa.
Great income producing property that rents for $1200. It is a 4/2 with 1296 Sq Ft. Was built in 1982 and was completely renovated. For more of our properties available please visit
Great income producing property. Rented at $1100.00 per month. 3 bedrooms/2 bathroom home. Built in 1958 with 1,535 Sq Ft. For all of our properties please visit us