9613 15Th StTampa, FL 33612

Property Details for 9613 15Th St

Year built

1980

Lot size

0.13 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional Tampa duplex presents a compelling investment opportunity. Completely renovated in 2024, this two-unit apartment building boasts a new roof, electrical system, kitchens, bathrooms, and flooring. Both the interior and exterior have been freshly painted, and a new driveway has been installed. Situated on a 0.13-acre lot in Hillsborough County (zip code 33612), this property benefits from RS-50 zoning and is free from HOA, flood zone, and CDD fees. The building, constructed in 1980, offers 1,437 square feet of net rentable space, spread across two stories. Currently, one unit commands a monthly rent of $1,550 with a guaranteed lease, while the other rents for $1,500 per month. Both leases are nearing expiration, providing the new owner with flexibility to adjust rental rates to market value or retain the existing tenants. Each unit features separate water and electric meters, with tenants responsible for their utilities. Annual owner expenses include $2,150 for insurance, $600 for yard maintenance, and property taxes. The property's current NOI is $30,346, with a pro-forma NOI of $38,146, resulting in a 7.68% cap rate and a pro-forma cap rate of 9.66%. The asking price is $395,000, or $197,500 per unit. This low-maintenance, high-yield investment is ready for immediate occupancy. The property is being sold as-is.

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

28.0369

Longitude

-82.4426

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