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Angelo Marcello

[email protected] +1(206) 321-7642

$ 939,000

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5609 N NEBRASKA AVE Tampa, FL 33604

5 Beds

4 Baths

3,907 SqFt

UPDATED:

01/17/2025 09:20 PM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,907 sqft

Price per Sqft $240

Subdivision Prestons Sub

MLS Listing ID TB8338524

Bedrooms 5

HOA Y/N No

Originating Board Stellar MLS

Year Built 1935

Annual Tax Amount $9,841

Lot Size 0.260 Acres

Acres 0.26

Lot Dimensions 82x137

Property Description

EAST SEMINOLE HEIGHTS MIXED USE OPPORTUNITY! 6 sources of income consisting of: A QUAD APARTMENT BUILDING / A RESTAURANT / A LARGE BILLBOARD / & SMALL STORAGE BUILDING. This perfectly located multi-use property is right in the thick of all of the revitalization of homes, new construction, and restaurant concepts. The property is composed of: 4 Unit quadplex (usually fully rented except during recent unit renovations) A 2/1 (740 sf.), B 1/1 (400 sf.), C 1/1 (560 sf.), D 1/1 (560 sf.), a separate garage / workshop adjacent to apartments (currently a part of restaurant lease); a free-standing Restaurant Property (currently rented Mexican Restaurant) with transferable 2COP liquor license, 1 mono-pole billboard currently on a land lease. The entire property is CI zoned so most uses are welcome on the property. Gross potential stabilized income is approx. $99,564 leaving a potential Net Operating Income of $78,106 and roughly an 8.5 CAP. These are the numbers to expect now that units have been renovated and only one unit remains to be leased. 4 years remain on the restaurant lease with tenant having an additional 5 year option thereafter with annual increases. Other recent capital improvements to the property are: A BRAND NEW WATERLINE AND METER TO THE APARTMENT BUILDING, NEW ROOF ON APARTMENT BUILDING, and new perimeter fencing installed. No owner financing is being offered.

Location

State FL

County Hillsborough

Community Prestons Sub

Zoning SH-CI

Interior

Interior Features Ceiling Fans(s)

Heating Electric

Cooling Wall/Window Unit(s)

Fireplace false

Laundry None

Exterior

Exterior Feature Balcony

Garage Spaces 1.0

Utilities Available Public

Roof Type Shingle

Attached Garage false

Garage true

Private Pool No

Building

Entry Level Two

Foundation Slab

Lot Size Range 1/4 to less than 1/2

Sewer Public Sewer

Water Public

Structure Type Block

New Construction false

Others

Senior Community No

Ownership Fee Simple

Special Listing Condition None

Listed by FUTURE HOME REALTY INC

Angelo Marcello

Broker Associate | License ID: BK3482471

+1(206) 321-7642

Angelo Marcello

5609 N NEBRASKA AVE Tampa, FL 33604

Key Details

Location

Interior

Exterior

Building

Others

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5609 N NEBRASKA AVE