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Key Details
Sold Price $1,350,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,048 sqft
Price per Sqft $223
Subdivision Grant Park
MLS Listing ID T3503111
Sold Date 03/29/24
Bedrooms 18
Construction Status Appraisal
HOA Y/N No
Originating Board Stellar MLS
Year Built 1989
Annual Tax Amount $4,074
Lot Size 5,662 Sqft
Acres 0.13
Lot Dimensions 150x113
Property Description
Welcome to the Prime DUPLEXES at 3402, 3404, and 3406 N Phillips St, Tampa, FL 33619 - an Unbeatable Investment Package!
Key Features that Set this Investment Apart:
TRIPLE BLOCK DUPLEXES. Acquire not one, not two, but THREE contiguous block duplexes, forming a solid block of SIX income-producing units. HIGH OCCUPANCY: Currently, 5 out of 6 units are leased, ensuring a steady and reliable income stream from day one.
LUCRATIVE RENTAL INCOME: With an impressive average rental income of $1,695 per month per unit, this investment promises substantial and consistent cash flow.WELL DESIGNED LAYOUTS: Each apartment boasts a spacious 3-bedroom, 2-bathroom layout, catering to the modern tenant's needs.RECENT RENOVATIONS: Witness the value-added enhancements, including newer roofs, and fresh exterior paint. 4 of the 6 units have been upgraded with new flooring, kitchen, baths and more - totalling $100,000 in improvements. These renovations not only enhance the property's appeal but also contribute to long-term durability and value. RAPID APPRECIATION:Rents have already increased by a remarkable 24% in less than 2 years, showcasing the potential for significant appreciation.STABLE TENANT BASE: We've strategically cleared out non-paying tenants and secured new, long-term occupants for increased stability. FUTURE POTENTIAL: This property is ripe for the savvy investor willing to secure higher rents and guaranteed payments using Gov't programs. Seize the opportunity to tap into this additional income stream! TENANT-PAID UTILITIES: Tenants contribute $70-$75 each for water/trash in addition to rent, ensuring minimal overhead for the savvy investor.SOLID FINANCIALS: Enjoy an annual rent of $112,387, with an 8% vacancy discount, and separate electrical meters - tenants foot the bill!
This meticulously curated portfolio of income-producing properties can be yours as a package deal for $1.4M or individually. Don't miss out on the chance to secure a sound and lucrative investment in the dynamic real estate market. Your future prosperity awaits! Contact us now to seize this golden opportunity!
Location
State FL
County Hillsborough
Community Grant Park
Zoning RM-16
Interior
Interior Features Ceiling Fans(s)
Heating Central
Cooling Central Air
Fireplace false
Laundry Inside
Exterior
Exterior Feature Other
Utilities Available BB/HS Internet Available, Electricity Connected, Sewer Connected, Water Connected
Roof Type Shingle
Garage false
Private Pool No
Building
Lot Description Corner Lot
Entry Level One
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Structure Type Block,Concrete,Stucco
New Construction false
Construction Status Appraisal
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Special Listing Condition None
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Bought with LPT REALTY