4954 Bitner St New Port Richey, FL 34652
Flor-A-Mar NeighborhoodEstimated payment $17,289/month
Highlights
- Indoor Pool
- Clubhouse
- Ceramic Tile Flooring
- Active Adult
- 1 Car Attached Garage
- 4-minute walk to Jay B Starkey Wilderness Park
About This Home
New Port Colony | 36-Unit Multifamily Investment | New Port Richey, FL | 10% Cap Rate. If you've been searching for a turnkey multifamily investment that truly checks every box, New Port Colony deserves your full attention. This 36-unit, 55+ community in New Port Richey, Florida is generating a 10% cap rate — and once you understand what's included, it's easy to see why.
The unit mix is well-balanced, with 19 one-bedroom/one-bath, 13 two-bedroom/one-bath, and 4 two-bedroom/two-bath homes, all within a single complex. Every unit has been updated and comes equipped with central heating and air. And here's what really sets this property apart: all 36 units have their own private garage — washer/dryer hookups in the garage of each unit. Residents get their own parking and their own laundry, all tucked right outside their door. There's a pool, shuffleboard, and a neighborhood feel that residents take pride in. Residents have the option to join the Gulf Harbors Beach Club — one of the only private Gulf-front beach clubs in the area — for just $200 a year. It's a small cost that adds a lifestyle element most apartment communities simply can't offer.
Day-to-day living is easy. Groceries, restaurants, shopping, and medical facilities are all close by, which matters a great deal to the 55+ residents who call this place home.
The 55+ demographic is one of the most stable tenant bases in residential real estate — low turnover, consistent payment history, and genuine pride of residency. New Port Colony reflects all of that.
Strong returns, updated units, a private garage, and a beach club down the road.
Listing Agent
RE/MAX MARKETING SPECIALISTS Brokerage Phone: 727-853-7801 License #3039347 Listed on: 05/04/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,080
Year Built
- Built in 1973
HOA Fees
- $308 Monthly HOA Fees
Parking
- 1 Car Attached Garage
Home Design
- Triplex
- Slab Foundation
- Shingle Roof
- Block Exterior
- Stucco
Interior Spaces
- 801 Sq Ft Home
- Ceiling Fan
Flooring
- Carpet
- Ceramic Tile
Bedrooms and Bathrooms
- 53 Bedrooms
- 40 Bathrooms
Laundry
- Laundry in unit
- Dryer
- Washer
Pool
- Indoor Pool
Utilities
- Central Heating and Cooling System
- Cable TV Available
Listing and Financial Details
- Visit Down Payment Resource Website
- Legal Lot and Block 1016 / 25
- Assessor Parcel Number 16-26-07-014.D-025.01-016.0
Community Details
Overview
- Active Adult
- 3 Units
- 1,087 Sq Ft Building
- Nick Toucton Association
- New Port Colony Subdivision
- On-Site Maintenance
Recreation
- Community Pool
Pet Policy
- 2 Pets Allowed
- Dogs Allowed
Additional Features
- Clubhouse
- Gross Income $541,452
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $1,198 | $47,922 | $2,605 | $45,317 |
| 2025 | $1,198 | $47,922 | $2,605 | $45,317 |
| 2024 | $1,198 | $64,510 | $2,605 | $61,905 |
| 2023 | $1,131 | $50,360 | $0 | $0 |
| 2022 | $973 | $57,807 | $2,605 | $55,202 |
| 2021 | $856 | $43,545 | $2,605 | $40,940 |
| 2020 | $804 | $42,234 | $2,605 | $39,629 |
| 2019 | $722 | $34,416 | $2,605 | $31,811 |
| 2018 | $701 | $33,395 | $2,605 | $30,790 |
| 2017 | $160 | $24,614 | $0 | $0 |
| 2016 | $119 | $23,612 | $0 | $0 |
| 2015 | $119 | $23,448 | $0 | $0 |
| 2014 | $109 | $23,262 | $2,278 | $20,984 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 05/04/2026 05/04/26 | For Sale | $3,186,000 | +5440.9% | $3,978 / Sq Ft | |
| 11/09/2018 11/09/18 | Sold | $57,500 | +0.9% | $72 / Sq Ft | View Prior Sale |
| 10/11/2018 10/11/18 | Pending | -- | -- | -- | |
| 10/06/2018 10/06/18 | For Sale | $57,000 | -- | $71 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $57,500 | Dynamic Title Services Llc | |
| Warranty Deed | $28,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $25,000 | Purchase Money Mortgage |
Source: Stellar MLS
MLS Number: W7885450
APN: 07-26-16-0140-01100-9570
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Listings courtesy of Stellar MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID
Listing Information presented by local MLS brokerage: Ten-X - (888)-952-6393
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Ask me questions while you tour the home.