4507-4517 Giddens AveTampa, FL 33610

Property Details for 4507-4517 Giddens Ave

Year built

1974

Property size (Sq ft)

8,856 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 12-unit multifamily portfolio comprising six duplexes situated on a 30,000 sq ft lot in Tampa, Florida (33610). Built in 1974 and renovated in 2018, the property boasts 8,856 total square feet, with 8,424 net rentable square feet. The six single-story buildings offer 24 parking spaces and are zoned for residential use. Currently operating at 100% occupancy (as of June 19, 2024), the property generates a Net Operating Income (NOI) of $100,408, with a current gross annual rent of $133,356. Each unit features two bedrooms and one bathroom, and tenants are responsible for all utilities. Landlord expenses are limited to landscaping, taxes, and insurance. Individual unit rents vary, with some units currently under market rate, presenting a significant opportunity to increase revenue. The property's prime location offers easy access to major amenities, including shopping centers, gyms, the Hard Rock Casino, Walmart, USF, I-275, I-4, Busch Gardens, and Downtown Tampa. The asking price is $2,200,000, representing $183,333 per unit and a price per square foot of $248.42. Potential seller financing is available with a 50% down payment. This portfolio presents a strong cash flow and significant upside potential in a rapidly growing market.

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

27.9952

Longitude

-82.4069

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