UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,804 sqft
Price per Sqft $274
Subdivision Fairview Terrace Resub
MLS Listing ID TB8428982
Bedrooms 35
Construction Status Completed
HOA Y/N No
Year Built 1988
Annual Tax Amount $4,670
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type Multi Family
Source Stellar MLS
Property Description
**An unparalleled opportunity to acquire a fully-stabilized, income-generating portfolio of 9 properties (12 units) strategically located throughout Tampa, Florida. Offered by retiring owners, this meticulously assembled collection represents a rare chance for an investor to achieve immediate and significant scale in one of the nation's most dynamic rental markets.
**The portfolio is 100% occupied and generates a substantial Gross Annual Income of $190,380. This offering provides a secure, cash-flowing asset from day one, coupled with clearly defined, multi-faceted avenues for future value creation.
**Portfolio Composition & Strategic Strengths:
This is not a homogenous collection of assets; it is a strategically diversified portfolio designed for resilience and optimized returns.
**Asset Class Diversity: The portfolio includes a robust mix of single-family residences, duplexes and one commercial property, minimizing concentration risk and appealing to a broad tenant base.
**Durable Construction: A significant majority of the properties feature low-maintenance, high-durability block construction, ensuring reduced long-term capital expenditures and operational ease.
**Immediate & Stable Returns: With all 12 units currently leased to tenants, the portfolio eliminates initial lease-up risk and provides immediate, predictable cash flow upon acquisition.
**The Value-Add Proposition: Unlocking Embedded Equity
Beyond its stable in-place income, the portfolio is primed for significant growth through two key value-add strategies:
**Revenue Growth Through Property Enhancement: A new owner has the opportunity to increase revenue by making strategic property improvements. Many units provide a strong foundation for cosmetic and functional upgrades that can enhance their appeal and market position. By investing in these enhancements, a new owner can justify higher rental rates, leading to a direct increase in net operating income and the portfolio's overall value.
**Unique Zoning & Development Potential: The portfolio includes a unique mixed-use property (3417 E Lake Ave) with valuable Commercial Intensive (CI) zoning. This asset is a strategic long-term holding that offers exceptional flexibility. While currently generating residential income, the CI zoning opens future possibilities for higher-yield commercial use, a live/work redevelopment, or a small business operation, representing significant embedded value beyond its current function.
**Conclusion: An Unmatched Acquisition Opportunity
This 9-property portfolio is an ideal turnkey investment for a buyer seeking to establish a strong presence in the Tampa market. It offers a powerful combination of features: 1) stable, immediate cash flow, 2) clear opportunities to add value, and 3) a diversified asset base in a high-growth market.
This is a rare opportunity to acquire a well-established portfolio built for long-term performance.
Location
State FL
County Hillsborough
Community Fairview Terrace Resub
Area 33612 - Tampa / Forest Hills
Zoning RS-50
Interior
Interior Features Other
Heating Central, Electric, Other
Cooling Central Air, Wall/Window Unit(s)
Fireplace false
Laundry Other
Exterior
Exterior Feature Other
Utilities Available Electricity Connected, Public, Sewer Connected, Water Connected
Roof Type Other
Garage false
Private Pool No
Building
Foundation Other
Lot Size Range 5 to less than 10
Sewer Public Sewer, Other
Water Public
Structure Type Other
New Construction false
Construction Status Completed
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Other, Special Funding
Listing Terms Cash, Conventional, Other, Special Funding
Special Listing Condition None
