TERRACE HIGHLANDS, THONOTOSASSA, FL, 33592
$10,000,000
Residential Income
Living Area
26,446 Sqft
Lot Size
151,098 Sqft
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 base—already 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)
Property Details
Property Features Property Features
MLS ID: MFRTB8396729 Year Built: 1972
Construction Materials: Block Cooling: Central Air, Wall/Window Unit(s)
Country: US County Or Parish: Hillsborough
Exterior Features: Outbuildings Foundation Details: Slab
Heating: Central, Other, Ductless Laundry Features: Other
Lease Term: Twelve Months Levels: One
Listing Agreement: Exclusive Right To Sell Possession: Close Of Escrow
Property Sub Type: Multi Family Property Type: Residential Income
Road Responsibility: Public Maintained Road Road Surface Type: Asphalt
Roof: Shingle Sewer: Septic Tank
Showing Requirements: Call Listing Agent Special Listing Conditions: None
Standard Status: Active State Or Province: FL
Tenant Pays: Electricity Utilities: Cable Available, Electricity Available, Sewer Connected, Water Connected
Water Source: Well
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