Property Photos
- MLS#: O6293394 ( Residential Income )
- Street Address: 2004 15th Avenue
- Viewed: 213
- Price: $1,500,000
- Price sqft: $275
- Waterfront: No
- Year Built: 1953
- Bldg sqft: 5448
- Bedrooms: 16
- Total Baths: 8
- Days On Market: 149
- Additional Information
- Geolocation: 27.9662 / -82.4363
- County: HILLSBOROUGH
- City: TAMPA
- Zipcode: 33605
- Subdivision: Ybor City Plan Of An Add
- Elementary School: Booker T. Washington
- Middle School: Stewart
- High School: ton
- Provided by: SAND DOLLAR REALTY GROUP INC
- Contact: Isabel Campos-Gordon
- 407-389-7318
- DMCA Notice
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DescriptionFinancial Summary Purchase Price: $1,500,000 Net Operating Income (NOI): $132,671.65 Annual Debt Service: $45,508.90 Cash Flow (Before Tax): $87,162.75 Investment Metrics Cap Rate 8.85 This is still strong, especially for multifamily in many markets. Typically, anything above 78 is attractive. Cash on Cash Return Assuming 20 down payment = $300,000:Cash on Cash Return=29.05 This is excellent high CoC returns like this are uncommon in many real estate markets. Debt Coverage Ratio (DCR)=2.92 Conclusion At a $1.5M price point, this is a robust investment: 8.85 Cap Rate solid and above average 29 Cash on Cash Return very high Excellent DCR well above lending safety thresholds. This deal remains highly favorable, with its excellent location, condition, and long term growth potential.
