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  • MLS#: TB8396729 ( ResidentialIncome )
  • Street Address: Address Not Provided
  • Viewed: 5
  • Price: $10,000,000
  • Price sqft: $340
  • Waterfront: No
  • Year Built: 1972
  • Bldg sqft: 29378
  • Days On Market: 2
  • Additional Information
  • Geolocation: 28.0464 / -82.3369
  • County: HILLSBOROUGH
  • City: Thonotosassa
  • Zipcode: 33592
  • Subdivision: Terrace Highlands
  • Provided by: RE/MAX MARKETING SPECIALISTS
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  • Description
    Now available is a rare and professionally managed multifamily portfolio consisting of 44 rental units spread across 22 separate buildings, along with a two story single family home currently used as an on site office and maintenance storage facility, complete with a two car garage. The unit mix includes 33 two bedroom, one bath units; 10 one bedroom, one bath units; and one two story residence currently functioning as the property management hub. The portfolio features a variety of HVAC systems, including central heating and air, wall units, and mini splits, offering flexibility and cost effective maintenance options. The grounds are meticulously maintained with manicured landscaping and professionally trimmed trees, contributing to tenant satisfaction and curb appeal. Two on site coin operated laundry facilities serve the tenant basealready equipped with brand new washers and dryers adding further convenience and income potential. The buildings sits on Large and smaller tax folios, providing flexible financing options and the ability to utilize conventional residential loans on smaller parcels. Located within a federally designated Opportunity Zone, this asset presents a significant tax advantaged investment opportunity for qualified buyers. Current market rents, supported by documentation, average $1,686 ea month for one bedroom units and $1,978 ea month for two bedroom units. In addition to stable cash flow from rental income, laundry operations there is the potential for increased revenue through future rent adjustments as leases come up for renewal. Whether you're a seasoned investor or seeking to take advantage of Opportunity Zone incentives, this high performing, income generating asset offers both immediate income and long term appreciation potential. 29,373 Sq Ft Total 26,446 Heated Sq Ft Total, 151,098 Sq Ft land, 6.57% CAP Rate with current rents, 8.3% CAP Rate with the Fair Market Value increased rent (Documentation can be provided)
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Features
Home Owners Association Fee
  1. 0.00
Carport Spaces
  1. 0.00
Close Date
  1. 0000-00-00
Cooling
  1. CentralAir
  2. WallWindowUnits
Country
  1. US
Covered Spaces
  1. 0.00
Exterior Features
  1. OutBuildings
Garage Spaces
  1. 0.00
Heating
  1. Central
  2. Other
  3. WindowUnit
  4. WallFurnace
Insurance Expense
  1. 0.00
Interior Features
  1. BuiltInFeatures
  2. EatInKitchen
  3. MainLevelPrimary
  4. WoodCabinets
  5. WindowTreatments
Legal Description
  1. TERRACE HIGHLANDS LOTS 9 AND 10 BLOCK 2
Levels
  1. One
Living Area
  1. 26446.00
Area Major
  1. 33592 - Thonotosassa
Net Operating Income
  1. 0.00
Open Parking Spaces
  1. 0.00
Other Expense
  1. 0.00
Other Structures
  1. Outbuilding
Parcel Number
  1. U-18-28-20-25F-000002-00009.0
Pet Deposit
  1. 0.00
Possession
  1. CloseOfEscrow
Property Type
  1. ResidentialIncome
Roof
  1. Shingle
Security Deposit
  1. 0.00
Sewer
  1. SepticTank
Tax Year
  1. 2024
Tenant Pays
  1. Electricity
The Range
  1. 0.00
Trash Expense
  1. 0.00
Utilities
  1. CableAvailable
  2. ElectricityAvailable
  3. SewerConnected
  4. WaterConnected
Virtual Tour Url
  1. https://www.propertypanorama.com/instaview/stellar/TB8396729
Water Source
  1. Well
Year Built
  1. 1972
Zoning Code
  1. RDC-12