$200,000

1401 College Park Lane #a & B

TAMPA FL, 33612

Description

Cash flowing duplex with a central location to USF, 275, and the entire bay area. This property is leased with cash paying, clean respectful tenants. Both are long term tenants, leases have converted to month to month. One unit is paying $1000/month and the other unit is at $900/month. The owner pays a fixed water bill of $150/month for entire building. The property sits at the end of a cul-de-sac and has a good lot size and good interior sqft which brings in higher rents. 960 sqft per unit is much larger than the typical 750 sqft for the area. New flooring was done in one unit, outside painting of building and upgrades were applied as needed, the units are well maintained. Roof 11/2015 HVAC 2007 but one unit just fully rebuilt. Full pro-forma attached. Current cap rates: Gross 12% NET CAP 10.6% fully documented for the last full year! Increase just one unit rent to the current market rate and NET CAP RATE increases to 11.3%. Best deal on the market. Professional management in place and willing to continue if needed. Seller financing available with $60k down

Details

MLS#T3217641
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1965
Days On Site15

Features

SQ Feet1,920
Units2
Building(s)1

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Area Information

StateFL
CountyHillsborough
CityTAMPA
Zip Code33612
Area33612 - Tampa / Forest Hills
Listing VS Median (in 33612)
Price:
$200,000
low | high
Med:
$179,250
60.375% of Average
SqFt:
1,920
low | high
Med:
1,457
74.114583333333% of Average
$ / SqFt:
$104
low | high
Med:
$125
30.145452876939% of Average
On Site:
15
low | high
Med:
95
15.789473684211% of Average
Listing Updated: 01/16/2020
MLS Number: T3217641
Listing Provided By:
Michael DiGaetano  of  KELLER WILLIAMS REALTY SOUTH TAMPA

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