5302 Trouble Creek RdNew Port Richey, FL 34652

Property Details for 5302 Trouble Creek Rd

Year built

1968

Lot size

0.32 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 6-unit apartment building in New Port Richey, Florida, presents a compelling investment opportunity. The property, situated on a 0.32-acre lot (APN: 17-26-16-0210-00C00-0020, 17-26-16-0210-00C00-0030), consists of two single-story buildings totaling 3,388 square feet of net rentable space. Built in 1968, the property features concrete block construction and is zoned OMF1. Currently generating a NOI of $39,203, resulting in a 5.60% cap rate, a pro-forma NOI of $58,944 projects a 7.70% cap rate, indicating significant upside potential. This potential is further enhanced by the possibility of over $240 in additional rental income per unit through continued renovations. The property's prime location in Pasco County, a rapidly growing area within the greater Tampa Bay region, offers exceptional access to major roadways, including U.S. Highway 19 (over 68,000 vehicles per day), and is conveniently located less than five minutes from Sam's Club, Publix, and numerous retail and dining options. This presents a strong value proposition for investors seeking exposure to a high-growth market with substantial rental upside. The asking price for this multifamily investment is $700,000.

Location Insight

City

New Port Richey

County

Pasco

State

Florida

Latitude

28.2244

Longitude

-82.7266

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