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33845141
33845144

12216 N 59th Street, Tampa, FL 33617 For Sale

RG
FL FL 3277603
The Goldstein Group
The Goldstein Group
Listed by The Goldstein Group
$1,325,000
88 days on market
Updated 18 days ago

Milan Villas

Details
APN 0369710502
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 7,072
Net Rentable (SqFt) 7,072
Units 7
Cap Rate 8.07%
NOI $106,896
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 8.47%
Pro-Forma NOI $112,249
Price per SqFt $187
Class B
Year Built 1984
Year Renovated 2024
Buildings 2
Stories 2
Acreage 0.800
Zoning RMC-20
Parking Spaces 10 spaces
Parking per 1,000 SqFt 1.41
Investment Type Stabilized
Ownership Assets Only

FULLY OCCUPIED, 8.5 CAP - 7 Unit Townhome Community With Amenities!

Marketing description

As one of the most populous cities in Florida, Tampa is an ideal market in which to own quality rental units. This 7 unit, fully occupied community enjoys high demand due to attractive floorplans and privacy normally associated with single family home living, while also offering affordability and proximity to everything the area has to offer. By being in the heart of one of the most popular places to live in Florida, Milan Villas offers excellent, stable cash flow. Fully occupied with long term tenants and a desirable location! • Strong appeal to residents - featuring gated access, spacious, updated units, a community pool (unusual for 7 units), and reserved parking, these units enjoy high demand as annual or vacation rentals year round. • Stability - Townhomes are a high demand rental type in all markets, but particularly in the Tampa Bay area. Investors enjoy a solid and consistent tenant base, and residents the luxuries of a single family home with the conveniences/amenities that come with apartment living. • Location - Less than 2 miles from University of South Florida, Adventhealth Hospital Tampa, VA Medical Center and Moffitt Cancer Center - all major local employment and education centers, creating a broad local tenant base. Also, close to all local retail, dining, hospitality, office and world-famous Busch Gardens of Tampa Bay! • Flexibility - units are individually deeded, and four are currently fully furnished and operated as vacation rentals/Airbnb units. Can be sold off individually to owner/occupants or smaller investors if so desired. • Potential for additional units - Included in the sale is a 0.40 acre parcel behind the property, with the p

Investment highlights

By being in the heart of one of the most popular places to live in Florida, Milan Villas offers:

Strong appeal for residents – featuring gated access, spacious, updated units, a community pool (unusual for 7 units), and reserved parking, these units enjoy high demand as annual or vacation rentals year round.

Stability – Townhomes are a high demand rental type in all markets, but particularly in the Tampa Bay area. Investors enjoy a solid and consistent tenant base, and residents the luxuries of a single family home with the conveniences/amenities that come with apartment living.

Location – Less than 2 miles from University of South Florida, Adventhealth Hospital Tampa, VA Medical Center and Moffitt Cancer Center – all major local employment and education centers, creating a broad local tenant base. Also, close to all local retail, dining, hospitality, office and world-famous Busch Gardens of Tampa Bay!

Flexibility – units are individually deeded, and four are currently fully furnished and operated as vacation rentals/Airbnb units. Can be sold off individually to owner/occupants or smaller investors if so desired.

Potential for additional units – Included in the sale is a 0.40 acre parcel behind the property, with the potential to build 8 additional townhomes.

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Listing Contacts

RG
FL FL 3277603
The Goldstein Group
The Goldstein Group
Listed by The Goldstein Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$106,896.00
$8,908.00/mo

Valuation Metrics

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DSCR
8.07%
Cap Rate
8.07%
ROI

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Additional Information

Name
Russell Goldstein
License
FL 3277603
Brokerage
MRG Associates LLC
Brokerage Phone
5615033648
Title
Broker
Brokerage Address
2374 Byron Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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