Four Cinder Block Duplexes:
located side by side and sold as a package only, all buildings are fully rented with 90% of the units rented at $550.00 per month. One long term tenant pays $450.00 per month. Tenants pay water and electric as the duplexes are all separately metered.
All four duplex apartments are 2 bedrooms and one bath. Interior walls are cinder block with cypress wood ceilings. Each Duplex building has a total square footage is 1,290 sq. ft.
Location : The duplexes are located in Tampa’s, Ybor City area north Interstate 275 and west of 21st street. McDonalds and Burger King are a short walking distance from the duplex locations. The restaurants and art shops are within easy walking distances from this location.
Property Dimensions: Lot dimensions for the entire property is 160’ x 127’. Zoning is YC-2. Multifamily is a permitted use in YC-2 zoning.
Terms: Seller financing with reasonable down payment. Property should yield over 25% ROI at 100% occupancy and with the terms offered by seller. Seller is seeking $75k down payment, 6% interest rate, 30 year amortization with a balloon payment at the end of 7 years. Monthly Payment would be $1,522.86 per month. Seller would look at a fair cash offer.
2015 Real Estate Taxes were $2,501.00
Gross Income is $ 51,500 annually
Water/Sewer/Garbage is zero
Maintenance Expenses $4,000 annually
Owner has liability insurance for all four units, runs $700 annually for all four units