1005 Lake AveTampa, FL 33605
- Residential income properties
Property Details for 1005 Lake Ave
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
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
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].