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2203-2207 Irene St 10 Unit Apartment Building $1,699,900 ($169,990/Unit) 5.40% Cap Rate Lutz, FL 33549
INVESTMENT HIGHLIGHTS
- 100% Occupied
- Close to USF
- Property is Well Maintained
EXECUTIVE SUMMARY
We are proud to present Irene Street Apartments in Lutz, FL for Sale. This offering includes (2) quadplexes and (1) duplex for a total of (10) units with 100% occupancy! Each layout is a 2 bed /1 bath configuration with roughly 705 SF. The sale includes three parcels; addresses 2203, 2205, & 2207 Irene Street. All of the buildings had new roofs installed in 2018. Many of the AC units have also been replaced. All of the units have had work done with most of them being fully updated with new kitchen cabinets & countertops, new appliances, new flooring, and new bathroom features. Exteriors were painted in 2025, and the parking lot was re-paved. Future ownership may also elect to add an on-site laundry facility to increase income. For a full review of the Financial Offering, please sign the Confidentiality Agreement.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $1,699,900 | Apartment Style | Low-Rise |
| Price Per Unit | $169,990 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.60 AC |
| Cap Rate | 5.40% | Building Size | 7,044 SF |
| Gross Rent Multiplier | 12 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1981 |
| Property Subtype | Apartment | ||
| Zoning | RMC-16 | ||
| Price | $1,699,900 |
| Price Per Unit | $169,990 |
| Sale Type | Investment |
| Cap Rate | 5.40% |
| Gross Rent Multiplier | 12 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 7,044 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1981 |
| Zoning | RMC-16 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 10 | - | 705 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $978,224 (2024) | |
| Land Assessment | $161,076 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $817,148 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$161,076 (2024)
Improvements Assessment
$817,148 (2024)
Total Assessment
$978,224 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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2203-2207 Irene St
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