Tampa - Ybor City Bungalow w/ Commercial Potential

[Johnny Diamantas]

Historic frame bungalow in East Ybor, east of the connector. This property is zoned Industrial and current usage is classified as Single Family Residence with the county. The house was previously used as an office by the previous owner. 

Projected rent rate is $1,100/mo. There is huge potential here as a buy and hold rental or to redevelop into office space. Since there are no similar comps in this area, we've priced this based on a single family scenario with a 10 cap ARV but there may be significant equity achievable by converting this to commercial.

ARV = $99,000

Rehab = $25,000

Price = $62,000

Gross Rent = $13,200

NOI = $9,900

Rent Info: https://www.rentometer.com/results/y2REg1L_Yd4

More Pics: https://drive.google.com/drive/folders/0B2PXMAb4PRzhSDEtTFFhOUUtUU0?usp=sharing

Call Johnny now at (813) 812-4180