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.

Price:   $329,000 

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