1309 E Sitka St - Apartments FOR SALE


Tampa, FL 33604- Sulphur Springs
$440,000 USD
727-251-5953
1309 E Sitka St, Tampa, FL for Sale
$440,000 USD
Apartments - FOR SALE
1/14
null | 10.04% Cap Rate

1309 E Sitka St
Tampa, FL 33604
Sulphur Springs


HIGHLIGHTS

  • Robust Value-Add Opportunity: Projected Year 1–2 CAP Rates of 10.04%–14.91% and Cash-on-Cash Returns of 12.31%–30.81%, Inclusive of Renovation Budget
  • Strategic Value-Add Renovation Budget Detailed in Offering Memorandum
  • Significant Foundation Repairs Completed: Including IntelliJack Leveling Systems, Supplemental Steel Beams, and Floor Joist Sistering
  • Critical Plumbing Updates Completed: Exterior Sewer Line Replaced, Drainage System Reinstalled w/ Proper Pitch, Replumbed Drains & Brought Up to Code
  • Renovated Interior Hallways & Stairs – Updated on Both Floors w/ New Flooring & Modern Fresh Paint
  • NON-Flood Zone location, drastically reducing insurance expenses | Newly Replaced Stairs on the Exterior of the Building & New Roof

OVERVIEW

**REVISED LIST PRICE - Now $55K Per Unit** | View Offering Memorandum at MultifamilyFirm.com for Full Details & Financial Info! The Multifamily Firm is pleased to present Sulfur Springs Apartments, an 8-unit apartment building in Tampa, Florida, offering a robust value-add opportunity with projected Year 1–2 CAP rates ranging from 10.04% to 14.91% and cash-on-cash returns of 12.31% to 30.81%, inclusive of the renovation budget. A strategic value-add renovation budget is detailed in the Offering Memorandum. Extensive structural and mechanical upgrades have already been completed, including installation of IntelliJack leveling systems, supplemental steel beams, floor joist sistering, and a replaced exterior sewer line. Interior improvements include updated hallways and stairwells with new flooring and contemporary paint finishes, while exterior enhancements feature newly replaced staircases and roofs. Situated on a 0.12-acre corner lot approximately six miles north of Downtown Tampa, the property lies within a NON-flood zone (Zone X) and offers ample on-site parking along with potential to add future community amenities. View Offering Memorandum for Full Details & Financial Information!!

FOR SALE DETAILS

PRICE

$440,000 USD

PRICE/SF

$153 USD /SF

# OF UNITS

8

PRICE/UNIT

$55,000

CAP RATE

10.04%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sulphur Springs Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

RS-50

APN/PARCEL ID

A-30-28-19-45M-000058-00010.0

ASK ABOUT THIS PROPERTY

Kyle KeelanThe Multifamily Firm, LLCMore Info
727-251-5953

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Kyle KeelanThe Multifamily Firm, LLCMore Info
727-251-5953

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.