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MacFarlane Park Place 3105 W Spruce St 3 Unit Apartment Building $769,000 ($256,333/Unit) 6.25% Cap Rate Tampa, FL 33607
INVESTMENT HIGHLIGHTS
- Exceptional 3-Unit Multifamily Asset, Consisting of 4-Bed /4.5-Bath House & Two Apartments on 1 Parcel
- Non-Flood Zone Location (Zone X) & Newer Roofs (2023), Substantially Reducing Insurance
- 4-Minutes from Midtown Tampa, Featuring Whole Foods, REI, Aloft & Element Marriott Hotel, & Over 1,000 Residential Units Driving Tenant Demand
- Savvy Investment Opportunity to Reside in House & Leverage 2 Apartment Units to Pay Mortgage & Build Equity
- Property Consists of 3-Units, in 3 Buildings, on 1 Parcel Totaling 0.19 Acres
- 10-Minutes from Downtown Tampa, SoHo & Ybor City - Providing Quick Access to Major Job Centers, Nightlife & Culture
EXECUTIVE SUMMARY
VIEW OFFERING MEMORANDUM (35 pages) FOR FULL DETAILS at MultifamilyFirm.com
The Multifamily Firm is pleased to present MacFarlane Park Place, an exceptional 3-unit multifamily property in the heart of Tampa. The asset consists of a spacious 4-bed / 4.5-bath house and Two rear apartments, all situated on 1 parcel. Currently vacant, the property offers immediate access for an owner-occupant or investor seeking to reside in the main house while leveraging the 2 apartments to offset the mortgage & build equity. The main house has been recently renovated with modern finishes, featuring en-suite bathrooms in every bedroom, granite countertops, stainless steel appliances, and LVP flooring. Complementing the house are two additional units, a 2-Bed / 1-Bath apartment and a 1-Bed / 1-Bath apartment, providing strong rental income potential. With newer roofs (2023) and a non-flood zone location (Zone X), insurance costs are substantially reduced.
Ideally located minutes from Midtown Tampa, Downtown, SoHo, Ybor City, and Tampa International Airport, the property benefits from proximity to major job centers, premium shopping, top dining, year-round sports, and cultural amenities… making it a rare opportunity in one of Tampa’s most dynamic growth corridors.
The Multifamily Firm is pleased to present MacFarlane Park Place, an exceptional 3-unit multifamily property in the heart of Tampa. The asset consists of a spacious 4-bed / 4.5-bath house and Two rear apartments, all situated on 1 parcel. Currently vacant, the property offers immediate access for an owner-occupant or investor seeking to reside in the main house while leveraging the 2 apartments to offset the mortgage & build equity. The main house has been recently renovated with modern finishes, featuring en-suite bathrooms in every bedroom, granite countertops, stainless steel appliances, and LVP flooring. Complementing the house are two additional units, a 2-Bed / 1-Bath apartment and a 1-Bed / 1-Bath apartment, providing strong rental income potential. With newer roofs (2023) and a non-flood zone location (Zone X), insurance costs are substantially reduced.
Ideally located minutes from Midtown Tampa, Downtown, SoHo, Ybor City, and Tampa International Airport, the property benefits from proximity to major job centers, premium shopping, top dining, year-round sports, and cultural amenities… making it a rare opportunity in one of Tampa’s most dynamic growth corridors.
PROPERTY FACTS
| Price | $769,000 | Building Class | C |
| Price Per Unit | $256,333 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 2,430 SF |
| Cap Rate | 6.25% | No. Stories | 1 |
| No. Units | 3 | Year Built/Renovated | 1913/2023 |
| Property Type | Multifamily | Parking Ratio | 3.29/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RS-50 - RS-50 Hillsborough County | ||
| Price | $769,000 |
| Price Per Unit | $256,333 |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 2,430 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1913/2023 |
| Parking Ratio | 3.29/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RS-50 - RS-50 Hillsborough County |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Storage Space
- Washer/Dryer
- Ceiling Fans
- Tile Floors
- Granite Countertops
- Stainless Steel Appliances
- Dining Room
- Island Kitchen
- Mother-in-law Unit
SITE AMENITIES
- Guest Apartment
- Trash Pickup - Curbside
- Vintage Building
- Multi Use Room
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+4.5 | 1 | $2,913 | 1,595 |
| 2+1 | 1 | $1,438 | 520 |
| 1+1 | 1 | $1,150 | 300 |
1 1
Walk Score®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | A-15-29-18-4PV-000049-00014.0 | Improvements Assessment | $305,538 |
| Land Assessment | $123,120 | Total Assessment | $428,658 |
PROPERTY TAXES
Parcel Number
A-15-29-18-4PV-000049-00014.0
Land Assessment
$123,120
Improvements Assessment
$305,538
Total Assessment
$428,658
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MacFarlane Park Place | 3105 W Spruce St
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