2004 E 15th Ave 8 Unit Apartment Building $1,500,000 ($187,500/Unit) 8.53% Cap Rate Tampa, FL 33605

2004 E 15th Ave | Four Duplexes (8 Units) | Historic Ybor City, Tampa
Step into a cash-flow corridor one block from Tampa’s storied Ybor City—where brick-lined 7th Avenue, landmark social clubs, and destination dining keep sidewalks busy day and night. Seventh Avenue anchors a National Historic Landmark District and has been recognized among “America’s Great Streets,” a pedigree that continually draws both residents and visitors.
Property Snapshot
8 total units across 4 concrete-block duplexes on a quiet residential street just off the Ybor action.
5 units fully remodeled: each with three efficient mini-split ACs and in-unit washers & dryers for modern comfort and lower utility spend.
1 unit partially renovated, 1 unit with new mini-splits, and 1 legacy unit (tenant remained by choice, using window ACs at a lower rent)—a built-in value-add path when turnover occurs.
Outdoor living at every door: welcoming front porches, rear patios, and fenced backyards that boost tenant satisfaction and retention.
Ample front parking for residents and guests—rare this close to Ybor’s entertainment district.
Lifestyle & Location Advantages (Why Tenants Love It)
A few blocks from Historic Ybor: cafés, restaurants, nightlife, museums, and year-round events keep the neighborhood vibrant and in demand.
~2 miles to Downtown Tampa—quick access to offices, Amalie Arena events, Riverwalk, and Water Street’s retail/culinary scene.
Momentum & Demand Drivers (Why Investors Love It)
Major infill development is actively knitting Ybor to Downtown—Gasworx (50 acres planned, thousands of new residences plus office/retail) is underway and positioning this district for continued rent growth and lifestyle demand.
Heritage + amenities: Ybor’s unique Spanish-Cuban-Italian architectural legacy, landmark venues, and destination dining/entertainment create a durable neighborhood identity—an enduring marketing edge for leasing.
Unit Experience (What Prospects See & Feel)
Bright, updated interiors in five units feature modern finishes, efficient cooling from triple mini-splits, and in-unit laundry—top priorities for Tampa renters.
Private outdoor space (porches, patios, fenced yards) lets each resident extend their living area—perfect for morning coffee, pets, and weekend grilling.
Quiet residential setting with plenty of front parking,
Value-Add Play (Next Owner’s Upside)
Complete the remaining renovations upon natural turnover to standardize finishes and lift legacy rent.
Market the lifestyle: proximity to Downtown/Water Street is a key differentiator that supports stronger rent comps over time.
Bottom line: This is a rare, Ybor City eight-unit package that already checks the “updated interiors + in-unit laundry + efficient cooling” boxes in most units—and sits steps from one of Tampa’s most magnetic neighborhoods with real, ongoing investment momentum. It’s the kind of location and feature mix that keeps vacancy low, renewals high, and the marketing practically writes itself.