3103 E Dr Martin Luther King Jr Boulevard

Description

Are you a BUY AND HOLD TYPE INVESTOR?? Are you looking for an Investment property in the heart of Tampa Florida??, then look no further!! This property is a diamond in the rough with tons of POTENTIAL!!! This property is zoned Commercial Intensive with Residential use. Property was set up and previously operated as a residential rooming house. Property has 6 full bedrooms, and common area (2) full bathrooms (a his and her restroom), common area kitchen, a spacious backyard and front porch. Property has a shot-gun style floor plan with a long hallway down the middle, with 3 bedrooms on each side, and the restroom and common areas are in the rear of the home. This investment would be ideal for a buy and hold type investor. Property could fit up to 4 cars plus, depending on how they are parked. Property is a wood frame house that was under renovation with permits from 2017, but has been vacant for quite some time. It will need some TLC to complete. Property has been rewired but needs panel box, has new PVC plumbing piping and fixtures, new windows, and washer/dryer hookup. There are areas with new Sheetrock, new interior doors, and a metal roof about 8 years old. Property is predicted to cost less than $50,000 to complete the floor plan as it is, please check with your contractor. It will need an AC system, interior and exterior painting, flooring, electrical fixtures, kitchen cabinets and appliances for the most part along with further cosmetic enhancements. Please check local city and county requirements to complete permitting process. With the high demands in the rental markets, income potential to continue to operate as-is could be a gross minimum potential of $4,800- $7,200/month if completed properly, managed efficiently, and could also prove more value if possibly offered furnished. Property is in a growing area in the City of Tampa and is only 5 minutes to YBOR City, 10 minutes to Downtown Tampa, 7 minutes to Seminole Heights, 9 minutes to Hard Rock Hotel and Casino, 15 minutes to South Tampa, and 10 minutes to Sparkmans Warf Channelside district. It takes you 5 minutes to jump onto I-4 to commute throughout the city. This will be the best rate you will find for a COMMERCIAL space in the Tampa area with low taxes. Property is Sold As-IS!!! ONLY CASH OFFERS WILL BE ACCEPTED with POF!!! Buyer must verify all information in listing. Property will be delivered vacant at closing. Dont let this opportunity pass on your ability to earn a strong cap rate on your return.