Historic Newport Ave Triplex
Closed305 S Newport Ave, Tampa, FL 33606
Property type
Multifamily
Unit / Space count
3
Price
$325,000
Building size
3,620 sf
Rentable area
3,620 SF
Year built
1923
Year renovated
Occupancy
Zoning code
Lot size
0.14 Acres
Sold/status
Sold · Date unknown
Sale price
$325000
Bedroom count
Property description
The Historic Newport Ave Apartments represent an incredibly unique opportunity to acquire a value-add triplex in Tampa's most desirable location! The property was constructed in 1923 of wood frame and features pitched roofs. The unit mix at 305 S Newport Ave consists of 1- 3Bdr 3Bath unit of ~1,552 square feet, 1- 1Bdr 1Bath of ~870sf , and 1- 1Bdr 1Bath of ~502sf. The rents are significantly below market allowing an investor to achieve hundreds of dollars in rent increases without any renovation necessary. The property is located in a premier Hyde Park urban infill location, centrally located to shopping, dining, and entertainment destinations found in Hyde Park Village, Downtown Tampa, and the SoHo entertainment district. Residents at 305 S Newport Ave enjoy access to a shared washer/dryer located in a covered shed behind the property. Residents pay for their own electricity, but currently enjoy complimentary water/sewer which is paid by the landlord. The Historic Newport Ave Apartments is a true value-add opportunity in Tampa's desirable Hyde Park District.
Property highlights
- Value-Add Triplex in A+ Hyde Park Location
- Centrally Located to Hyde Park Village, Downtown Tampa, & SoHo Entertainment District
- Rents Significantly Below Market with Immediate Upside