Block Six-Plex in Tampa near USF

[Phil Bach]

Asking Price: $219,000

Property consists of three detached buildings which have four units that can easily be converted into six units. Located in the North Tampa area next to USF. This is a Section 8 dream with a combined rent accumulating up to $4,500 a month. Don't miss out on a potential 14%-17% ROI

Rehab Description: All three of the buildings will need roof repairs and re-shingling. Every unit will need a new A/C condenser but not a handler as each already has one in place. Two of the units will need kitchens, wall dividers and personal entryways installed to make it into six units again. Expect to do miscellaneous handyman repairs including drywall, tile, painting and electrical.

Rehab:$35,000-$45,000 

Rent Return Quick Calculation:

Purchase Price: $219,000.00
Est. Closing Fees: $3,255.00
Rehab Costs: $40,000.00

Monthly Rent: $4,050.00 (Market Rent: $675 per unit)
Vacancy & Maintenance: 10%
Annual Taxes: $2,676.00
Insurance Cost: $2,500.00
NOI: $38,564.00
Cap Rate: 14.70%

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Purchase Price: $219,000.00
Est. Closing Fees: $3,255.00
Rehab Costs: $40,000.00

Monthly Rent: $4,500.00 (Section 8: $750 per unit)
Vacancy & Maintenance: 10%
Annual Taxes: $2,676.00
Insurance Cost: $2,500.00
NOI: $43,424.00

Cap Rate: 16.56%

Call:

Philip Bach

Licensed Sales Associate

Meridian Trust Investments

100 North Tampa Street Suite 2840

P/ (813) 867-0500

C/ (786) 351-2294

[email protected]