GREAT INVESTMENT OPPORTUNITY IN OPPORTUNITY ZONE!!! CHECK OUT VIRTUAL TOUR LINK 2 - AWESOME DRONE VIDEO! This property includes a total of 6-Buildings (10-Rental Units) which incorporates 2-Single Family rentals & 4-Duplex’s, a storage shed, and a groundwater well. The storage shed can be converted to a laundry room for additional income. Current Gross income is; $8,755 per month ($105,060 per year) but with the possibility to adjust rents and reflect a monthly Gross income of $11, 050 ($132,600 per year). Currently, there is an on-site manager that is given a discounted rent in return for the property basic needs (lawn care, minor repairs, etc.). Owner had plans to build a new 2-story building (#7) which consists of 4 additional apartments. Final drawings are ready to be submitted to County to pull permits. It includes building plans, topographic survey, geotechnical report, building energy calculations, and a Cost Estimate of $750,000 for the construction costs (Quote dated 2/1/2022). The projections & details for this additional building would include 4-Additional 2 Br, 2 Ba Units (2 Up & 2 Down), 593 Sq. Ft of additional Sidewalks, and 1603 Sq. Ft of Additional Concrete Parking. Also, with the addition of the building #7, the projected monthly Gross income for the building alone is; $5,840 ($70,080 per year). As opposed to the current 10 units, residents of the new building #7 would require to pay their own utilities (water and sewer). This property is located between E. Fletcher Ave. & E. Fowler Ave., just East of Nebraska Ave & Hwy 275 on N 15th St. There is a Public Transportation stop just outside the front of the property. It's located about one mile west of USF and not too far from Hillsborough Community College, shopping, coffee shops, restaurants and much more that Tampa has to offer. All measurements approximate, and the number of bathrooms described under the description of each unit failed to permit the add'l 1/2 (.5) baths & 3/4 (.75) baths. Buyer to verify all measurements & actual bath sizes.
Listing courtesy of XCELLENCE REALTY INC.
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