Bosphorous Ave
Closed118 BOSPHOROUS AVE, Tampa, FL 33606
Property type
Multifamily
Unit / Space count
3
Price
$1,150,000
Building size
3,116 sf
Rentable area
3,116 SF
Year built
Year renovated
Occupancy
APN
A-25-29-18-509-000010-00014.0
Zoning code
Lot size
0.30 Acres
Bedroom count
Price per Unit
$383,333
Price per SF
$369.06
Property description
118 Bosphorous Ave is a rare opportunity to purchase 0.3 acres in Davis Islands, Tampa’s premier A++ submarket. A unique factor of this opportunity lies in the 3 existing rental units providing a covered land play for a buyer looking for the site of their future home, or for a luxury home developer that could build multiple units on this massive lot. The existing use generates $3,950 in gross monthly income with supporting evidence to increase rents to market rate, potentially adding $1,750+ per month in rental upside. Bosphorous Ave is accessible by a short walk or golf cart ride from various amenities, including Davis Islands Village, which offers boutique shops, local restaurants, and entertainment, the Davis Islands Yacht Club, and family-friendly parks. The property is a 5- to 10-minute drive from key locations such as Tampa General Hospital, Downtown Tampa, Hyde Park Village, and Bayshore Boulevard. The current zoning of Residential Single-Family 60 (RS-60) allows for the construction of multiple single-family detached dwellings with minimum lot sizes of 6,000 SF (2 lots max). However, future zoning of Residential 10 (R-10) allows for the construction of multiple townhomes and single-family homes with a maximum density of 10 units per acre (3 units max). This zoning flexibility opens various development possibilities.
Property highlights
- Sourced All Cash Buyer
- Contract to Close in 29 Days
- Located in the Highly Desirable Davis Island Submarket of Tampa, FL
- 0.3 Acre Parcel with Excellent Development Potential
- A Short Walk or Golf Cart Ride from Davis Islands Village (Boutique Shops, Local Restaurants, and Entertainment), Davis Islands Yacht Club, Davis Islands’ Very Own Airport, and Family-Friendly Parks
- Within a 5-10 Minute Drive from Tampa General Hospital, Downtown Tampa, Hyde Park Village, and The Beautiful Bayshore Boulevard