4 Beds
4 Baths
1,860 SqFt
4 Beds
4 Baths
1,860 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,860 sqft
Price per Sqft $321
Subdivision Seminole Park Manor
MLS Listing ID A4685720
Bedrooms 4
Construction Status Completed
HOA Y/N No
Year Built 1957
Annual Tax Amount $7,790
Lot Size 0.270 Acres
Acres 0.27
Lot Dimensions 85x135
Property Sub-Type Quadruplex
Source Stellar MLS
Property Description
Currently three units are occupied and one unit is vacant, allowing a buyer the opportunity to immediately place a tenant at market rent or occupy the unit if desired. Current rents are $1,500/month, $1,300/month, and $1,100/month, with the vacant unit projected to rent for approximately $1,145/month. With minor optimization and turnover improvements, similar units in the area suggest potential rents of approximately $1,400–$1,450 per month, presenting strong upside for investors looking to increase cash flow over time.
The property offers multiple value-add opportunities. Two single-car garages (180 sq ft each) currently provide additional flexibility. One unit currently utilizes a garage without additional rent, while the second garage is available and could generate additional income estimated at $100+/month per garage. Each garage also includes laundry also, creating the possibility for coin-operated laundry income for tenants.
Additional features include separate electric meters for tenants on the building that has the two garages , shared electric on the othere, separate water heaters for each unit, off-street parking, and long-term tenants currently on annual leases. Two tenants are currently supported through the local housing authority program, offering additional payment stability. Water is currently paid by the landlord but may offer an opportunity for investors to implement a RUBS (Ratio Utility Billing System) to further improve operating income.
The property has also seen recent improvements, including a new roof installed in December 2024 on one building, while the other roof was installed in October 2017. Most units have recently been cleaned and refreshed to maximize rental potential, and one unit includes a private fenced yard area, adding additional tenant appeal.
Constructed in 1955 and 1957, the property is believed to be block construction (to be verified by the buyer) and is located in Flood Zone X.
For investors seeking a stable multi-family asset with immediate income and clear pathways to increase revenue, this property offers an excellent addition to a rental portfolio. Professional management is currently in place and can continue managing the property if desired, allowing for a seamless transition for the new owner.
Location
State FL
County Pinellas
Community Seminole Park Manor
Area 33773 - Largo
Zoning R-4
Interior
Interior Features Kitchen/Family Room Combo, Thermostat
Heating Central, Electric, Ductless
Cooling Central Air, Wall/Window Unit(s)
Flooring Tile
Furnishings Unfurnished
Fireplace false
Appliance Cooktop, Dryer, Freezer, Microwave, Range, Washer
Laundry Electric Dryer Hookup, In Garage, Inside, Laundry Room, Washer Hookup
Exterior
Exterior Feature Fence
Parking Features Driveway, Open
Garage Spaces 2.0
Utilities Available BB/HS Internet Available, Electricity Available, Electricity Connected, Public, Sewer Available, Sewer Connected, Water Available, Water Connected
Roof Type Membrane
Porch Covered, Front Porch
Attached Garage true
Garage true
Private Pool No
Building
Lot Description Paved
Entry Level One
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Structure Type Block,Stucco
New Construction false
Construction Status Completed
Others
Pets Allowed Yes
Senior Community No
Ownership Fee Simple
Acceptable Financing Assumable, Cash, Conventional, FHA, VA Loan
Listing Terms Assumable, Cash, Conventional, FHA, VA Loan
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4685720
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