18 Unit Apartment Complex| 11% Cap Rate| Near Univ S. Florida

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$997,900 36 bd, 18 ba, 14,954 sqft

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The owner needs cash and is selling at a big discount.

Here is a rare opportunity to own a 100% tenant occupied apartment complex in one of the hottest markets in the country. This gem consists of (18) 2 bedroom / 1 bath units with approximately 820 square feet per unit. Most of the units have gone through refurbishing and have newer stainless steel appliances, kitchen cabinets, and tile flooring throughout most of the units.

The complex consists of 3 buildings plus a community pool. The roof on two of the buildings was replaced in 2010, new septic in 2009, and new pool pump in the last year, with most of the AC units, replaced this past year as well.

The location is ideal for an investor for its diversified location being only 2 miles from the University of South Florida, minutes away from Busch Gardens and the Hard Rock casino and near all major highways.

Purchase now with a current cap rate of 11% and realize a big upside with a slight rent increase.

Chateau Villas, No HOA

Est. Rehab: $7,000

Est. ARV: $1,250,000

Est. Monthly Rent: $13,050

Property Details

Price:

$997,900

Address:

E. 122nd St.

City:

Tampa

State:

Fl

Zip Code:

33617

Year Built:

1986

Terms:

For Sale

Property Type:

Commercial

Square Feet:

14,954

Bedrooms:

36

Bathrooms:

18

Basement:

Ample Parking

Const. Type:

Block

Call (407) 781-7312 for more details