For Sale
$615,000

6709 River RdNew Port Richey, FL 34652

Four-unit multifamily, high cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents two renovated duplexes totaling four units situated on a 0.8-acre lot at 6709, 6711, 6713, and 6715 River Road, New Port Richey, FL 34652. Built in 1969 and completely renovated in 2022, this Class C multifamily property boasts 4,554 square feet of net rentable space, offering a compelling value-add proposition. The property currently features two one-bedroom, one-bathroom units and two two-bedroom, one-bathroom units, all currently 100% occupied, generating a strong net operating income (NOI) of $160,000, resulting in an attractive 8.6% capitalization rate. Priced at $615,000, this translates to $153,750 per unit and $135.05 per square foot. The property is offered fee simple. Please note that while square footage and tax information are derived from public records, the tax ID includes properties beyond these duplexes and requires separate verification. All details should be independently verified.

Highlights

  • Four-unit multifamily property on a 0.8-acre lot in New Port Richey, FL.
  • Completely renovated in 2022, offering 4,554 square feet of net rentable space.
  • Currently 100% occupied with a strong NOI of $160,000 and an 8.6% cap rate.
  • Priced at $615,000, or $153,750 per unit and $135.05 per square foot.
  • Fee simple ownership.

Property Details for 6709 River Rd

Property type
Apartment buildings
Square Feet
4,554 SF
Class
C
Year Built/Renovated
1969/2022
Buildings
2
Stories
1
Units
4

Location Insight

City
New Port Richey
County
Pasco
State
Florida
Latitude
28.255115015307
Longitude
-82.723956106578
6709 River Rd, New Port Richey, Florida

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6709 River Rd
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