2004 E 15TH AVE Pending Save Request In-Person Tour Request Virtual Tour
Tampa,FL 33605
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 5,160 sqft
Price per Sqft $290
Subdivision Ybor City Plan Of An Add
MLS Listing ID O6293394
Bedrooms 16
Year Built 1953
Annual Tax Amount $12,530
Lot Size 0.480 Acres
Property Sub-Type Multi Family
Property Description
Under contract-accepting backup offers. Financial 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 7–8 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.
Location
State FL
County Hillsborough
Community Ybor City Plan Of An Add
Area 33605 - Tampa / Ybor City
Zoning YC-2
Interior
Heating Electric
Cooling Ductless
Flooring Hardwood,Tile
Laundry In Kitchen,Inside
Exterior
Exterior Feature Fence,Private Mailbox
Parking Features Off Street
Utilities Available Cable Available,Electricity Connected,Fiber Optics,Sewer Connected,Water Connected
Roof Type Shingle
Building
Lot Description City Limits,Near Public Transit,Oversized Lot,Paved
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Block,Stucco
New Construction false
Schools
Elementary Schools Booker T. Washington-Hb
Middle Schools Stewart-Hb
High Schools Middleton-Hb
Others
Acceptable Financing Assumable,Cash,Conventional,Trade,FHA,Private Financing Available
Listing Terms Assumable,Cash,Conventional,Trade,FHA,Private Financing Available
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/O6293394