902 Annie StTampa, FL 33612

Property Details for 902 Annie St

Year built

1983

Lot size

1.01 AC

Property size (Sq ft)

29,416 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This 36-unit apartment building in Tampa, Florida, presents a compelling value-add investment opportunity. Built in 1983, the two-story, 29,416 square foot concrete block structure sits on a 1.01-acre lot at 902 E Annie St, 33612. All 36 units are two-bedroom apartments, each featuring washer/dryer connections, central HVAC, and individually metered water and sewer. Recent interior upgrades include shaker-style cabinets, vinyl plank flooring, stainless steel appliances, and contemporary fixtures. The property boasts strong cash flow with a 6.5% takeover cap rate (including adjusted taxes and insurance). Significant value-add potential exists through exterior improvements such as landscaping, lighting, and a refreshed paint scheme. Its location, ten minutes north of downtown Tampa, offers proximity to major employers like the University of South Florida and Busch Gardens, and benefits from the ongoing $1 billion Rithm at Uptown redevelopment project. The seller is also considering offers that include an adjacent three-bedroom, two-bathroom single-family rental, potentially usable as a manager's unit or generating additional rental income of $2,100+ per month. This property offers substantial upside potential in a high-demand area.

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

28.0363

Longitude

-82.4508

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