7% CAP RATE and OPPORTUNITY ZONE INVESTMENT! Unique Opportunity to acquire income producing Multifamily Package in South Tampa. 4401/4403 W Ohio Ave and 4204 N Manhattan Ave each has its own Folio number and offered only as a package deal. Own the corner of W Ohio Ave and N Manhattan Ave in the Drew Park area. Future income (and great use for opportunity zone investment) stems from the future land use of this property. Zoning is currently RM16, future land use RM20, and opportunity to apply for a Planned Unit Development zoning. Unit to land ratio indicates a potential for 7 units on the property. Excellent development area and fantastic opportunity to earn easy income while going through the zoning application process. Long term tenants would love to stay, and are paying way under market rents because they have been such long term and wonderful tenants. There is opportunity to increase the rental rates quite significantly if you would like to. Package includes a duplex and a triplex. 3 units are 2/1, and 2 units are 3/2 See attachments for surveys and income info
Courtesy of Marcia Castro Socas, Castro Realty Group
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Rural vs. Urban
Market occupancy and urban/rural information from Home Junction Inc.