Sarasota's Premier Homes

2004 E 15TH AVENUE

TAMPA , FL 33605

MLS#: O6293394

$1,500,000

Status: Active
Listing number: O6293394
Listing provided by: SAND DOLLAR REALTY GROUP INC
Listing agent phone: None
Last update: 6 days ago
On site: 3 months ago
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YBOR CITY PLAN OF AN ADD - Residential Income

Property

Beds

16

Full Baths

None

1/2 Baths

None

Year Built

1953

Sq.Footage

5,160

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.

Features & Amenities

Interior

  • Other Interior Features

    Eat-in Kitchen

  • Total Bedrooms

    16

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    Ductless

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Electric

Exterior

  • Garage

    No

  • Construction Materials

    Block, Stucco

  • Parking

    Off Street

  • Patio and Porch Features

    Front Porch, Patio

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Features

    Near Public Transit, Paved

  • Lot Size(acres)

    0.48

  • Property Type

    Residential Income

  • Property Sub Type

    Multi Family

Price

  • Sales Price

    $1,500,000

  • Tax Amount

    12530.0

  • Sq. Footage

    5, 160

  • Price/SqFt

    $290

HOA

  • Association

    NO

School District

  • Elementary School

    Booker T. Washington-HB

  • Middle School

    Stewart-HB

  • High School

    Middleton-HB

Property Features

  • Foundation Details

    Slab

  • Ownership

    Fee Simple

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

  • Tax Lot

    6

  • Water Source

    Public

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Location

County

Hillsborough

Elementary School

Booker T. Washington-HB

Middle School

Stewart-HB

High School

Middleton-HB

Listing Courtesy of Isabel Campos-Gordon , SAND DOLLAR REALTY GROUP INC

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Agent MichaelGraf

Business Coach | Executive Sales Associate | Realtor®

MichaelGraf

Call Michael today to schedule a private showing.

(941) 315-6980

michael@thegrafgroupvip.com


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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.

2004 E 15TH AVENUE

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