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Thonotosassa,FL 33592
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 26,446 sqft
Price per Sqft $378
Subdivision Terrace Highlands
MLS Listing ID TB8396729
Year Built 1972
Annual Tax Amount $6,350
Lot Size 0.310 Acres
Property Sub-Type Multi Family
Property 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 base—already 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)
Location
Province FL
County Hillsborough
Community Terrace Highlands
Area 33592 - Thonotosassa
Zoning RDC-12
Interior
Heating Central,Other,Ductless
Cooling Central Air,Wall/Window Unit(s)
Laundry Other
Exterior
Exterior Feature Outbuildings
Utilities Available Cable Available,Electricity Available,Sewer Connected,Water Connected
Roof Type Shingle
Building
Foundation Slab
Sewer Septic Tank
Water Well
Structure Type Block
New Construction false
Others
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8396729