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109 W 131st Ave

5 Unit Apartment Building $1,175,000 ($235,000/Unit) 5.90% Cap Rate Tampa, FL 33612

Investment Highlights

  • Room to potentially BUILD ADDITIONAL UNITS
  • Right off bustling Florida Ave, just south of Fletcher
  • Five 2BR/1BA units, each 729 sq ft. All with central AC
  • Lot Size Acres: 0.98
  • DUPLEX (1,458 sq ft) and a TRIPLEX (2,187 sq ft)
  • NEW SHINGLE ROOFS

Executive Summary

PRIME LOCATION – INVESTOR ALLERT!! Excellent opportunity to own a MULTI-FAMILY property in the heart of Tampa Bay! This offering includes a DUPLEX (1,458 sq ft) and a TRIPLEX (2,187 sq ft) situated on nearly 1-ACRE, right off bustling Florida Ave, just south of Fletcher. This 3,645-square-foot property features five 2BR/1BA units, each 729 sq ft, built with sturdy concrete BLOCK construction, central AC, and NEW SHINGLE ROOFS. Tenants pay all utilities with separate meters aside from a shared water meter. Each unit is in good condition, having been updated a few years ago with wood-look standard tile flooring. Most units feature stainless steel appliances and quality cabinetry in the kitchens and bathrooms. Parking is available for each unit. All units are occupied by month-to-month tenants with below-market rents, providing an excellent opportunity for rental INCOME GROWTH. Plus, with no HOA, there's flexibility for future development! The existing structures are located at the back of the lot, leaving room to potentially BUILD ADDITIONAL UNITS at the front. Located minutes from downtown Tampa, International Mall, MacDill Air Force Base, I-275, shopping, dining, and more! Please do not visit the property or disturb the tenants.

Property Facts

Price $1,175,000
Price Per Unit $235,000
Sale Type Investment
Cap Rate 5.90%
No. Units 5
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.95 AC
Building Size 3,780 SF
Average Occupancy 100%
No. Stories 1
Year Built/Renovated 1984/2020

Unit Amenities

  • Air Conditioning
  • Washer/Dryer Hookup
  • Heating
  • Kitchen
  • Stainless Steel Appliances
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Tenant Controlled HVAC
  • Smoke Detector

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
U-12-28-18-0TD-000003-00008.3
Land Assessment
$164,092
Improvements Assessment
$428,516
Total Assessment
$592,608

zoning

Zoning Code RMC-6 (Residential, Multi-Family Conventional)
RMC-6 (Residential, Multi-Family Conventional)
  • Listing ID: 33819065

  • Date on Market: 11/9/2024

  • Last Updated:

  • Address: 109 W 131st Ave, Tampa, FL 33612

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