$399,900
$399,900
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5611 12TH ST Zephyrhills, FL 33542
2,348 SqFt
Key Details
Sold Price $399,900
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,348 sqft
Price per Sqft $170
Subdivision City Zephyrhills
MLS Listing ID T3441095
Sold Date 07/17/23
HOA Y/N No
Originating Board Stellar MLS
Year Built 1939
Annual Tax Amount $2,199
Lot Size 9,147 Sqft
Acres 0.21
Property Description
Under contract-accepting backup offers. Appraised for $425K in June 2023! Located in a very desirable market, just 2 miles from AdventHealth, Publix, Starbucks, Chic-Fil-A, Super Walmart and much more, this is a 3-unit triplex property fully leased with 2 of the 3 leases expiring in 6 months creating a significant value add opportunity. Two of the units are 2 bedrooms and one of the units is a 3 bedroom. This property rents for $47,400 per year. After expenses of about $15,000, the Net Operating Income is almost $32,000 per year. With 25% down, this property is making just under a 12% cash-on-cash return which includes a 5% vacancy factor, an 8% management fee and an amortizing loan. If desired, an interest-only loan will lower mortgage payments and push yields even higher. Value add opportunity in less than 6 months when 2 of the leases expire. The Buyer can adjust rents to market levels to achieve almost a 18% cash-on-cash return. For a full analysis, please contact us for details.
Location
State FL
County Pasco
Community City Zephyrhills
Zoning R2
Interior
Interior Features Ceiling Fans(s), Ninguno
Heating Wall Units / Window Unit
Cooling Wall/Window Unit(s)
Fireplace false
Exterior
Exterior Feature Other
Utilities Available Water Connected
Waterfront false
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Crawlspace
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Stucco, Wood Siding
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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© 2024 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Bought with LPT REALTY, LLC