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31155391
31155444

2322 W Cherry St, Tampa, FL 33607-3460

MH
FL FL SL3361362
KELLER WILLIAMS TAMPA CENTRAL
AG
KELLER WILLIAMS TAMPA CENTRAL
Listed by KELLER WILLIAMS TAMPA CENTRAL
$895,000
77 days on market
Updated 77 days ago

2322 W Cherry St

Details
APN A-14-29-18-4PQ-000031-00007.1; 1792510000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,368
Units 4
Cap Rate 6.11%
NOI $54,648
Price per SqFt $283
Class B
Year Built 1903
Year Renovated 2010
Buildings 1
Stories 2
Acreage 0.070
Zoning RM-16
Parking Spaces 2 spaces
Parking Per SqFt 0.59
Investment Type Stabilized
Ownership Fee Simple

Turn Key Quadplex with separate meters for water and electric. Completely remodeled 2010

Marketing description

Turnkey quadplex built in 1903 and fully restored down to the studs in 2010, offering historic charm with present day expected updates. Property consists of four units within this two-story building, including two 2-bedroom / 1-bath units (approximately 779 sq ft) and two 3-bedroom / 1-bath units (approximately 800 sq ft), each with a private entrance and stackable washer dryer systems. Each unit has an updated kitchen, appliances, fixtures and durable vinyl plank flooring installed within the past three years. Major system updates include AC units from 2017, 2019 and 2021 (two units), water heaters last replaced 2021 - 2022, and the metal roof has substantial remaining life. Utilities are calculated with water and electric meters separated for each unit. Low-maintenance landscaping and stone plantbeds allow for easy upkeep; back yard is mostly fenced if someone wants to finish it off for a pet. Always fully occupied with rents currently below market rate(s)... an opportunity for increasing future income. Conveniently located one mile directly east of Macfarlane Park and Freedom Boat Club at Rick's on the River is one mile to the east. Also just minutes to I-275 and I-4, Downtown, Tampa International Airport, International Plaza, Veterans Expressway and the Howard Frankland Bridge to St Pete... 10-15 minutes to our most popular districts like Seminole / Riverside / Tampa Heights, Armature Works and SoHo to South Tampa as well. Excellent opportunity for Investors seeking a stabilized asset with upside potential -or- prospective Owner Occupant desiring to live in one unit while generating income from the others.

Investment highlights

  • Virtual Tour: https://www.propertypanorama.com/instaview/stellar/TB8486051#tour

  • Lot Size Square: 3,038

  • Garage/Parking Features: Driveway, On Street Parking

  • Major system updates include AC units from 2017, 2019 and 2021 (two units), water heaters last replaced 2021 - 2022, and the metal roof has substantial remaining life.

  • Low-maintenance landscaping.

  • Up and coming area located near many attractions.

Listing Contacts

MH
FL FL SL3361362
KELLER WILLIAMS TAMPA CENTRAL
AG
KELLER WILLIAMS TAMPA CENTRAL
Listed by KELLER WILLIAMS TAMPA CENTRAL

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$54,648.00
$4,554.00/mo

Valuation Metrics

0
DSCR
6.11%
Cap Rate
6.11%
ROI

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Additional Information

Name
Matt Hilton
License
FL SL3361362
Brokerage
Keller Williams Realty Tampa Central
Brokerage Phone
5038903264
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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