UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,616 sqft
Price per Sqft $355
Subdivision John H Drews First Ext
MLS Listing ID C7513090
Bedrooms 6
Full Baths 2
HOA Y/N No
Year Built 1964
Annual Tax Amount $4,596
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 50x89
Property Sub-Type Single Family Residence
Source Stellar MLS
Property Description
This fully occupied asset includes (6) 1-bedroom units, two of which feature upgrades (one with a private entrance and one with a private bath), with a blended average of $885/month in rent (after vacancy and booking fees). That translates to $5,310/month in gross rent or $56,875/year under pro forma conditions.
T-12 performance shows $53,279 in gross income with $16,772 in operating expenses, yielding an NOI of $36,507 and a 6.35 cap rate. The pro forma assumes improved net returns due to a decrease in new management booking costs and platform fees, resulting in an NOI of $40,103 and a 6.97 cap rate, all with expenses held constant. It's a lean, predictable operation ideal for passive investors seeking immediate returns & tax benefits with minimal overhead.
Management is already in place and can remain for a seamless transition, making this a true turnkey asset. With PadSplit acting as your master tenant and manager, you benefit from operational simplicity, low vacancy, and passive income flow from day one.
Please conduct all due diligence prior to submitting an contract. $10,000 Earnest Money Deposit (EMD) required with accepted contract. Contact us for preferred lender referrals.
Reach out now for the full financial package or to schedule a private showing. This offering combines stable return with long-term upside and it's priced to move.
Location
State FL
County Hillsborough
Community John H Drews First Ext
Area 33607 - Tampa
Zoning RS-50
Interior
Interior Features Other
Heating Electric
Cooling Central Air
Flooring Other
Fireplace false
Appliance Refrigerator
Laundry Common Area
Exterior
Exterior Feature Other
Utilities Available BB/HS Internet Available, Cable Available, Electricity Connected
Roof Type Shingle
Garage false
Private Pool No
Building
Story 1
Entry Level One
Foundation Block, Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/C7513090
