Nine duplexes (18 units), all 2/2 on individual parcels ranging in size from .14 to .17 acre, with duplexes built between 1986 and 1988 and SFLA ranging from 1820sf to 1896sf. All have central heat and air, an electric water heater, a refrigerator, a range and washer/dryer hookups. All are of block construction and have shingle roofs except for one duplex with a metal roof. Six of the other eight duplexes have had new shingle roofs installed within the last six years. Ten of the units have ceramic tile flooring. Gross leases average $675/month. Owner pays taxes and insurance. Tenants pay all of their utilities which include cable, internet, electric, water, sewer, telephone and trash pickup. Units are 100% occupied with a waiting list and a very capable property manager. Income and expense numbers allow for an 8% vacancy (even though the units are fully occupied) and an 8% property management fee. Price is based on an 8% capitalization rate, but information is provided for other cap rates.
****Investment Property that actually pays for itself in the City of Zephyrhills. Both sides rented for $500 a month includes lawn maintenance, one year lease. Each side of duplex is a 1 bedroom, 1 bath. Property was recently updated.*** GREAT property for investors****
Attention investors or anyone wishing to enter the real estate investment business. Motivated seller says he is tired of working full time and trying to be a landlord. Here is your chance to capitalize on his exit from the business. This duplex has an excellent location with strong exposure saving you hundreds of $$$ in advertising expenses to try and get a tenant. Just place your signage and let the great location do the rest. This property could be rehabbed to increase the rent rates and your rate of return. 1 block from city park and playground. 4 blocks to softball/baseball/footbal field complex and city skate park.