1005 Lake AveTampa, FL 33605
- Apartment buildings
Property Details for 1005 Lake Ave
- Property type
- Apartment buildings
Description
This exceptional 4-unit apartment building, located at 1005 E Lake Avenue in Tampa, Florida's rapidly developing Ybor Heights neighborhood, presents a compelling investment opportunity. The property boasts a strong 6.89% capitalization rate and a healthy net operating income (NOI) of $44,449. Recently renovated in 2023, the building features a new roof and significant capital improvements throughout. All four units have undergone complete upgrades, including new electrical and plumbing systems, modern kitchens with white shaker cabinets and quartz countertops, stainless steel appliances, updated tiled bathrooms, and luxury vinyl flooring. Three one-bedroom, one-bathroom units are currently rented at $1400 per month each, with one featuring a private fenced backyard. A studio unit is rented at $1200 per month. The asking price is $645,000, representing a price per unit of $161,250. This property offers immediate cash flow and significant potential for appreciation in a thriving urban core location, aligning with the city's redevelopment plans for Ybor City. The building is situated in Hillsborough County, Florida, zip code 33605.
Location Insight
- City
- Tampa
- County
- Hillsborough
- State
- Florida
- Latitude
- 27.9777
- Longitude
- -82.449
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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