$625,000
$50K PRICE DROP

Estimated payment $3,907/month

Total Views 3,938
3 Beds
5 Baths
2,753 Sq Ft
$227 Price per Sq Ft

Highlights

  • 0.34 Acre Lot
  • No HOA
  • Laundry Room
  • Open Floorplan
  • Built-In Features
  • Tankless Water Heater

About This Home

This well-maintained multiplex property offers a prime investment opportunity, featuring five fully-leased units that generate consistent income and significant potential for long-term financial growth. Each unit is freshly renovated with new a/c units, water heaters, fully remodeled kitchens, and remodeled bathrooms, appealing to tenants, ensuring a steady cash flow and low vacancy risk. The property is situated in a highly desirable neighborhood of New Port Richey, where demand for rental units remains strong, ensuring high occupancy rates and attractive rental yields. The location is ideal, with easy access to major transportation routes, shopping centers, and other local amenities, making it an even more appealing option for tenants.

The property is in turnkey condition, with regular maintenance and updates that minimize the need for immediate capital expenditures. With a block structure, a separate laundry building, and a newer roof (2020). With a proven track record of delivering strong returns and situated in an area that shows continued growth, this multiplex offers an exceptional chance for investors seeking a stable, income-producing asset with excellent long-term appreciation potential. The current owners are enjoying over a 7% Cap rate! Don't delay. Call today to set up a viewing of this fantastic investment property.

Listing Agent

Susan McGowan

FUTURE HOME REALTY INC Brokerage Phone: 813-855-4982 License #3155686 Listed on: 04/04/2025

FUTURE HOME REALTY INC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,455

Year Built

  • Built in 1956

Lot Details

  • 0.34 Acre Lot

Home Design

  • Slab Foundation
  • Concrete Siding
  • Block Exterior
  • Stucco

Interior Spaces

  • 2,753 Sq Ft Home
  • Open Floorplan
  • Built-In Features
  • Ceiling Fan
  • Ceramic Tile Flooring
  • Range
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 5 Bathrooms

Parking

  • On-Street Parking
  • Assigned Parking

Outdoor Features

  • Exterior Lighting
  • Private Mailbox

Schools

  • Gulf Middle School
  • Gulf High School

Utilities

  • Central Heating and Cooling System
  • Cooling System Mounted To A Wall/Window
  • Thermostat
  • Tankless Water Heater
  • Septic Tank
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 22 / 82616
  • Assessor Parcel Number 16-26-08-001.0-022.00-001.0

Community Details

Overview

  • No Home Owners Association
  • Tampa Tarpon Spgs Land Co Subdivision

Amenities

  • Laundry Facilities

Pet Policy

  • Pets Allowed

Building Details

  • Operating Expense $17,074
  • Gross Income $60,180

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,455

Year Built

Built in 1956

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Condition: Completed
  • Property Sub Type: Multi Family
  • Construction Materials: Block, Concrete, Stucco
  • Fireplace: No
  • Living Area: 2753
  • Lot Size Acres: 0.34
  • New Construction: No
  • Year Built: 1956
  • Lease Term: Twelve Months
  • Lot Size Sq Ft: 15000
  • Tenant Pays: Electricity
  • Directions to Property: US Hwy 19 to East on South Rd.
  • Status: Active
  • Ownership: Fee Simple
  • Available for Lease YN: 1
  • Escrow City: Apollo Beach
  • Escrow Postal Code: 33572
  • Escrow State: FL
  • Escrow Street Name: N US Hwy 41
  • Escrow Street Number: 6162
  • List Office Head Office Key Nume: 1038452
  • RATIO Current Price By Calculate: 227.03
  • Total Acreage: 1/4 to less than 1/2
  • Unit Number YN: 0
  • Water Access YN: 0
  • Attribution Contact: 813-855-4982
  • Tax Year: 2024
  • Special Features: VirtualTour

Interior Features

  • Living Area Units: Square Feet
  • Flooring: Ceramic Tile
  • Interior Amenities: Built-in Features, Ceiling Fans(s), Open Floorplan, Thermostat
  • Appliances Included: Electric Water Heater, Range, Refrigerator, Tankless Water Heater
  • Foundation Details: Slab
  • Total Bedrooms: 3
  • Levels: One
  • Street Number Modifier: 5100
  • Living Area Meters: 255.76

Exterior Features

  • Other Structures: Other
  • Exterior Features: Outbuildings, Lighting, Private Mailbox
  • Roof: Other
  • Pool Private: No
  • Waterfront: No
  • Road Surface Type: Paved
  • Water Extras YN: 0
  • Water View YN: 0
  • Waterfront Feet Total: 0
  • Flood Zone Date: 2020-06-05
  • Flood Zone Panel: 12101C0351G

Garage/Parking

  • Carport Y N: No
  • Garage Yn: No
  • Parking Features: Assigned, Curb Parking, Guest

Utilities

  • Utilities: Cable Connected, Electricity Connected, Fire Hydrant, Water Connected
  • Cooling: Central Air, Wall/Window Unit(s)
  • Heating: Central, Electric, Ductless
  • Laundry Features: Common Area, Laundry Room
  • Sewer: Septic Tank
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Street Lights
  • Association: No
  • Senior Community: No
  • Association 2 YN: 0
  • Building Name Number: OCEANUS APARTMENTS

Fee Information

  • Total Annual Fees: 0.00
  • Total Monthly Fees: 0.00

Schools

  • High School: Gulf High-PO
  • Middle Or Junior School: Gulf Middle-PO

Lot Info

  • Zoning: R1MH
  • Parcel Number: 16-26-08-001.0-022.00-001.0
  • Additional Parcels: No
  • Flood Zone Code: AE
  • Lot Size Square Meters: 1394

Rental Info

  • Furnished: Unfurnished
  • Pets Allowed: Yes
  • Total Actual Rent: 60180
  • Lease Restrictions YN: 0
  • Additional Lease Restrictions: Consult the city of NPR or Pasco County for any possible leasing restrictions. The seller is unaware of any restrictions.

Multi Family

  • Gross Income: 60180
  • Number Of Units Total: 1
  • Total Num Buildings: 1
  • Unit Count: 5
  • Est Annual Market Income: 60180.00
  • Total Monthly Expenses: 1422

Tax Info

  • Tax Annual Amount: 5455
  • Tax Block: 82616
  • Tax Book Number: 1-68-70
  • Tax Lot: 22

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/04/2025 06/04/25 Price Changed $625,000 -3.7% $227 / Sq Ft
05/02/2025 05/02/25 Price Changed $649,000 -2.4% $236 / Sq Ft
04/19/2025 04/19/25 Price Changed $665,000 -1.5% $242 / Sq Ft
04/04/2025 04/04/25 For Sale $675,000 -- $245 / Sq Ft
Source: Stellar MLS

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Source: Stellar MLS

MLS Number: TB8370544

Stellar MLS