1511 E 140TH AVE, TAMPA, FL, 33613
$1,475,000
Residential Income
Bedrooms
16
Bathrooms
8
Living Area
5,616 Sqft
Lot Size
22,794 Sqft
EIGHT-UNIT MULTIFAMILY INVESTMENT OPPORTUNITY IN TAMPA'S UNIVERSITY AREA! Situated on approximately 0.52 acres, this property features eight 2-bedroom, 1-bathroom apartments across four separate, single-story concrete-block duplex buildings. Conveniently located near the University of South Florida, major employment centers, shopping, dining, and interstate access, this property offers an attractive opportunity for investors seeking a multifamily asset with significant rental income potential. Current ownership has invested extensively in property improvements, with an emphasis on quality materials, durability, and long-term value. Renovated units feature upgrades such as granite and quartz countertops, tile flooring, beautifully tiled tub surrounds, updated kitchens and bathrooms, and other modern finishes. Additional property improvements include replacement windows in numerous units, attractive black aluminum perimeter fencing, landscaping, and palm trees. Renovation levels and finishes vary by unit. FOUR UNITS CURRENTLY OCCUPIED AND FOUR VACANT, providing the next owner with the flexibility to establish new leases at market rates while benefiting from existing rental income. Current occupied rents total $5,875 per month, with estimated market rental potential of $12,125 per month ($145,500 annually) at full occupancy. Unit A also has a scheduled rent increase during the second year of its lease. Tenants are responsible for their individual electric utilities, while ownership provides water and sewer service. With its solid concrete-block construction, desirable all-2-bedroom unit mix, substantial owner improvements, and opportunity to increase occupancy and rental income, this property presents a compelling investment opportunity in Tampa's University Area. Offering Memorandum, rent roll, and additional financial information available upon request.
Property Details
Property Features Property Features
MLS ID: MFRTB8565766 Year Built: 1981
Appliances: Electric Water Heater, Exhaust Fan, Range, Range Hood, Refrigerator Construction Materials: Block
Cooling: Mini-Split Unit(s) Country: US
County Or Parish: Hillsborough Exterior Features: Fence, Lighting, Private Mailbox, Private Yard, Sidewalk
Financial Data Source: Owner Flooring: Ceramic Tile
Foundation Details: Slab Furnished: Unfurnished
Heating: Electric, Ductless Laundry Features: None
Lease Term: Twelve Months Levels: One
Listing Agreement: Exclusive Right To Sell Listing Terms: Cash, Conventional, Trade
Lot Features: Landscaped, Sidewalk, Paved Occupant Type: Tenant
Other Equipment: Private Yard Parking Features: Common, Guest, Off Street
Property Sub Type: Quadruplex Property Type: Residential Income
Road Surface Type: Asphalt Roof: Shingle
Sewer: Public Sewer Showing Requirements: Call Listing Agent, Combination Lock Box, Do Not Contact Tenants, Text List Agent
Special Listing Conditions: None Standard Status: Active
State Or Province: FL Tenant Pays: Electricity
Utilities: BB/HS Internet Available, Cable Available, Cable Connected, Electricity Available, Electricity Connected, Sewer Connected, Water Connected Water Source: Public
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