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11720 N 15th St 10 Unit Apartment Building $1,800,000 ($180,000/Unit) 5.20% Cap Rate Tampa, FL 33612
INVESTMENT HIGHLIGHTS
- Seller-Financing Available
- Potential to develop an additional 4-units
- 1.3 miles to I-275, offering convenient access to Downtown Tampa, Westshore Business District, St. Petersburg and Clearwater
- Concrete block construction
- Approximately two miles to University of South Florida, AdventHealth Hospital Tampa, Haley VA Medical Center, and Moffitt Cancer Center
EXECUTIVE SUMMARY
10-unit multifamily community in Tampa, FL - attractive unit mix of majority two-bedroom units and a three-bedroom unit. Significant proven upside potential with a 25% increase in Effective Gross Income possible by end of Year Two through continued unit interior and common area improvements. Two miles to RITHM @ Uptown – This groundbreaking $1 billion project will be one of the largest innovation communities in the state, boasting 7-million square feet of development and will include residential, retail, entertainment, corporate offices, hospitality and more, including recently opened Sprouts Farmers Market.
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $1,800,000 | Building Class | C |
| Price Per Unit | $180,000 | Lot Size | 0.89 AC |
| Sale Type | Investment | Building Size | 6,743 SF |
| Cap Rate | 5.20% | No. Stories | 1 |
| No. Units | 10 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.48/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | RMC-16 - Residential Manufactured Home zoning district that allows for a maximum density of 16 units per acre | ||
| Price | $1,800,000 |
| Price Per Unit | $180,000 |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.89 AC |
| Building Size | 6,743 SF |
| No. Stories | 1 |
| Year Built | 1961 |
| Parking Ratio | 1.48/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RMC-16 - Residential Manufactured Home zoning district that allows for a maximum density of 16 units per acre |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 578 |
| 2+1 | 8 | - | 578 - 730 |
| 3+1 | 1 | - | 780 |
1 1
Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | U-07-28-19-1GN-D00000-00006.0 | Improvements Assessment | $288,952 (2024) |
| Land Assessment | $235,448 (2024) | Total Assessment | $524,400 (2024) |
PROPERTY TAXES
Parcel Number
U-07-28-19-1GN-D00000-00006.0
Land Assessment
$235,448 (2024)
Improvements Assessment
$288,952 (2024)
Total Assessment
$524,400 (2024)
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11720 N 15th St
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