2004 E 15TH AVE, TAMPA, FL, 33605
$1,500,000
Residential Income
Bedrooms
16
Bathrooms
8
Living Area
5,160 Sqft
Lot Size
20,320 Sqft
Financial Summary • Purchase Price: $1,500,000 • Net Operating Income (NOI): $132,671.65 • Annual Debt Service: $45,508.90 • Cash Flow (Before-Tax): $87,162.75 Investment Metrics Cap Rate 8.85 This is still strong, especially for multifamily in many markets. Typically, anything above 7–8 is attractive. Cash-on-Cash Return - Assuming 20 down payment = $300,000:Cash-on-Cash Return=29.05 This is excellent — high CoC returns like this are uncommon in many real estate markets. Debt Coverage Ratio (DCR)=2.92 Conclusion At a $1.5M price point, this is a robust investment: • 8.85 Cap Rate — solid and above average • 29 Cash-on-Cash Return — very high • Excellent DCR — well above lending safety thresholds. This deal remains highly favorable, with its excellent location, condition, and long-term growth potential.
Property Details
Property Features Property Features
MLS ID: MFRO6293394 Year Built: 1953
Appliances: Dryer, Electric Water Heater, Exhaust Fan, Range, Refrigerator, Washer Construction Materials: Block, Stucco
Cooling: Mini-Split Unit(s) Country: US
County Or Parish: Hillsborough Exterior Features: Fence, Private Mailbox
Financial Data Source: Accountant Flooring: Hardwood, Tile
Foundation Details: Slab Furnished: Unfurnished
Heating: Electric Laundry Features: In Kitchen, Inside
Lease Term: Twelve Months Levels: One
Listing Agreement: Exclusive Right To Sell Listing Terms: Assumable, Cash, Conventional, Trade, FHA, Private Financing Available
Lot Features: City Limits, Near Public Transit, Oversized Lot, Paved Parking Features: Off Street
Patio And Porch Features: Front Porch, Patio Pets Allowed: Yes
Possession: Close Of Escrow Property Condition: Completed
Property Sub Type: Multi Family Property Type: Residential Income
Road Responsibility: Public Maintained Road Road Surface Type: Paved
Roof: Shingle Sewer: Public Sewer
Showing Requirements: Appointment Only Special Listing Conditions: None
Standard Status: Active State Or Province: FL
Tenant Pays: Electricity, Sewer, Water Utilities: Cable Available, Electricity Connected, Fiber Optics, Sewer Connected, Water Connected
Water Source: Public Window Features: Aluminum Frames
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