Turnkey Rental

2010 East Waters Avenue, Tampa, FL

13.14% return

SP: $128,000

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Property Description

Awesome property! Package of two duplexes on a pretty lot in Sulphur Springs area of Tampa. One of the fastest growing areas in the country. This amazing package will generate a 15%+ net return on investment. Buildings have brand new electrical wiring and meters. Property has 3 out of 4 units occupied with lower rents. 4th unit is ready for rent. Potential to generate $2200/month in gross income if rents are adjusted to market rate of $550/month for each unit. Good condition, doesn't need rehab. Property has low maintenance expenses.

Property Information

Listing statusSold
Property typeMulti Family
Total units4
Total bedrooms4
Total bathrooms4
Building size1768 sq. ft.
Lot size0.2 acres
Year built1981 - 1989

CountyHillsborough County
SubdivisionHAFFORD JONES'S ADDITION
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$128,000
Estimated rehab¹$0
Total investment$128,000

TypeActual

Gross income (annually)$22,200
Operating expenses (annually)$5,386
Net income (annually)$16,814
Gross return17.34%

Gross income (monthly)$1,850
Operating expenses (monthly)$449
Net income (monthly)$1,401
Net return13.14%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 1 bed / 1 bath$500/month$6,000/year
Unit 2: 1 bed / 1 bath$500/month$6,000/year
Unit 3: 1 bed / 1 bath$450/month$5,400/year
Unit 4: 1 bed / 1 bath$400/month$4,800/year
Total$1,850/month$22,200/year

Expenses

Property Taxes$76/month$906/year
Insurance$67/month$800/year
Maintenance reserve$167/month$2,000/year
Water bill$140/month$1,680/year
Total$449/month$5,386/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.