2004 E 15TH AVE Tampa, FL 33605
16 Beds
9 Baths
5,160 SqFt
UPDATED:
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
Construction Status Completed
HOA Y/N No
Year Built 1953
Annual Tax Amount $12,530
Lot Size 0.480 Acres
Acres 0.48
Lot Dimensions 160 x 127
Property Sub-Type Multi Family
Source Stellar MLS
New Construction false
Property Description
• 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
Interior Features Ceiling Fans(s), Eat-in Kitchen
Heating Electric
Cooling Ductless
Flooring Hardwood, Tile
Furnishings Unfurnished
Fireplace false
Appliance Dryer, Electric Water Heater, Exhaust Fan, Range, Refrigerator, Washer
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
Porch Front Porch, Patio
Attached Garage false
Garage false
Private Pool No
Building
Lot Description City Limits, Near Public Transit, Oversized Lot, 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
Schools
Elementary Schools Booker T. Washington-Hb
Middle Schools Stewart-Hb
High Schools Middleton-Hb
Others
Pets Allowed Yes
Senior Community No
Ownership Fee Simple
Acceptable Financing Assumable, Cash, Conventional, Trade, FHA, Private Financing Available
Listing Terms Assumable, Cash, Conventional, Trade, FHA, Private Financing Available
Num of Pet 3
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/O6293394
