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  • MLS#: TB8396729 ( Residential Income )
  • Street Address: Address Not Provided
  • Viewed: 14
  • Price: $10,000,000
  • Price sqft: $340
  • Waterfront: No
  • Year Built: 1972
  • Bldg sqft: 29378
  • Days On Market: 9
  • Additional Information
  • County: HILLSBOROUGH
  • City: THONOTOSASSA
  • Zipcode: 33592
  • Subdivision: Terrace Highlands
  • Provided by: RE/MAX MARKETING SPECIALISTS
  • Contact: Lori Rutherford
  • 352-686-0540
  • mfrmls
  • DMCA Notice
  • Description
    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 basealready 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)
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  •   Principal & Interest -
  •   Property Tax $
  •   Home Insurance $
  •   HOA Fees $
  •   Mortgage Insurance-

  •   Monthly -
Features
Building and Construction
  • Covered Spaces: 0.00
  • Exterior Features: Outbuildings
  • Living Area: 26446.00
  • Roof: Shingle
Garage and Parking
  • Garage Spaces: 0.00
  • Open Parking Spaces: 0.00
Eco-Communities
  • Water Source: Well
Utilities
  • Carport Spaces: 0.00
  • Cooling: Central Air, Wall/Window Unit(s)
  • Heating: Central, Other, Ductless
  • Sewer: Septic Tank
  • Utilities: Cable Available, Electricity Available, Sewer Connected, Water Connected
Finance and Tax Information
  • Home Owners Association Fee: 0.00
  • Insurance Expense: 0.00
  • Net Operating Income: 0.00
  • Other Expense: 0.00
  • Tax Year: 2024
Rental Information
  • Tenant Pays: Electricity
Other Features
  • Country: US
  • Interior Features: Eat-in Kitchen, Primary Bedroom Main Floor, Solid Wood Cabinets, Thermostat, Window Treatments
  • Legal Description: TERRACE HIGHLANDS LOTS 9 AND 10 BLOCK 2
  • Levels: One
  • Area Major: 33592 - Thonotosassa
  • Parcel Number: U-18-28-20-25F-000002-00009.0
  • Possession: Close Of Escrow
  • Views: 14
  • Zoning Code: RDC-12
Headshot for Associate Frank Filippelli
  1. Frank Filippelli, Broker,CDPE,CRS,REALTOR ®
  2. Southern Realty Ent. Inc.
  3. Mobile: 407.448.1042
  4. frank4074481042@gmail.com