8923 N 40th St - Apartments FOR SALE


Tampa, FL 33604- Temple Terrace
$1,690,000 USD
813-865-3091
8923 N 40th St, Tampa, FL for Sale
$1,690,000 USD
Apartments - FOR SALE
1/8
null | 8.78% Cap Rate

8923 N 40th St
Tampa, FL 33604
Temple Terrace


HIGHLIGHTS

  • 8923 N 40th Street presents the Garden Del Rey Apartments, a 100% leased and professionally managed apartment building.
  • Located across from Busch Gardens theme park for easy year-round access and close proximity.
  • There is coin-operated laundry facility on-site, as well as a new roof.
  • The Garden Del Rey Apartments present immediate cashflow and a stabilized investment opportunity.

OVERVIEW

The Garden Del Rey Apartments present a 12-unit apartment building that is 100% leased. The site benefits from high exposure in an incredible infill location across from the famous Busch Gardens theme park. The unit mix consists of 11 one-bedroom/ one-bathroom and one studio unit. The building is two stories and is constructed of concrete blocks. The Garden Del Rey Apartments building features a brand-new laundry facility with coin-operated machines, billboard signage, a new roof (permitted in 2025), updated windows, and more. The site is professionally managed for a hands-off ownership experience. Cost analysis performed as rental property In: Rent - $189,960.00 Out: (Annual) Property Taxes - $11,848.00 (Annual) Estimated Insurance - $8,986.20 (Annual) Property Management (Optional) - $13,297.20 (Annual) Estimated Utilities/Lawn/Repair/Misc. - $7,440.00 Total Costs - $41,571.40 Net - $148,388.60 Earn: Total yearly net equates to - $148,388.60 Total monthly gross equates to - $15,830.00 TOTAL MONTHLY NET EQUATES TO - $12,365.72

FOR SALE DETAILS

PRICE

$1,690,000 USD

PRICE/SF

$205 USD /SF

# OF UNITS

12

PRICE/UNIT

$140,833

CAP RATE

8.78%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Garden Del Rey Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,197 SF

ZONING

CG

APN/PARCEL ID

A-21-28-19-464-000005-00001.0

ASK ABOUT THIS PROPERTY

Kurt WestfieldBlue Peak RealtyMore Info
813-865-3091

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Kurt WestfieldBlue Peak RealtyMore Info
813-865-3091

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