BEDS53
BATHS
SQUARE FEET801
MLS#W7885450
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONNEW PORT COLONY
Property Description
New Port Colony | 36-Unit Multifamily Investment | New Port Richey, FL | 10% Cap Rate.If you've been searching for a turnkey multifamily investment that truly checks every box, New Port Colony deserves your full attention. This 36-unit, 55+ community in New Port Richey, Florida is generating a 10% cap rate - and once you understand what's included, it's easy to see why.The unit mix is well-balanced, with 19 one-bedroom/one-bath, 13 two-bedroom/one-bath, and 4 two-bedroom/two-bath homes, all within a single complex. Every unit has been updated and comes equipped with central heating and air. And here's what really sets this property apart: all 36 units have their own private garage - washer/dryer hookups in the garage of each unit. Residents get their own parking and their own laundry, all tucked right outside their door. There's a pool, shuffleboard, and a neighborhood feel that residents take pride in. Residents have the option to join the Gulf Harbors Beach Club - one of the only private Gulf-front beach clubs in the area - for just $200 a year. It's a small cost that adds a lifestyle element most apartment communities simply can't offer.Day-to-day living is easy. Groceries, restaurants, shopping, and medical facilities are all close by, which matters a great deal to the 55+ residents who call this place home.The 55+ demographic is one of the most stable tenant bases in residential real estate - low turnover, consistent payment history, and genuine pride of residency. New Port Colony reflects all of that.Strong returns, updated units, a private garage, and a beach club down the road.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air
Garage: 1 car attached
Heating: Central
Roof Type: Shingle
Stories: 1.0
Taxes: $1,080
Year Built: 1973
Amenities
Ceiling Fans(s)
Other
Feature Descriptions
Annual Net Income: 321996.00
Appliances: Dryer, Refrigerator, Washer
Association Amenities: Maintenance
Community Features: Buyer Approval Required, Clubhouse, Pool
Days on Site: 2
Directions: US 19 west Marine. Right on Parkway
Exterior: Block, Stucco
Flood Zone Code: AE
Flooring: Carpet, Ceramic Tile, Tile
Foundation: Slab
HOA Fee: 308/ Monthly
HOA Y/N: Yes
Home Warranty Y/N: No
Listing Terms: Cash
Number of Pets: 2
Ownership: Fee Simple
Pets Allowed: Dogs OK, Yes
Pool: Indoor
Property Attached Y/N: No
Property Sub-Type: Triplex
Senior Community: Yes
Sewer: Public Sewer
Showing Instructions: Call Listing Agent
Special Sale Provisions: None
Swimming Pool: Yes
Utilities: Cable Available, Cable Connected
Water: Public
Water Access Y/N: No
Zoning: MF1
Listed By / Shown By
Listed By
Agency Name: RE/MAX MARKETING SPECIALISTS
Agency Contact: 727-853-7801
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0400
Estimate Your Payment
Estimated Payment
$ 8,109.90 per month $7,090.65 Principal & Interest $90.00 Property Tax $929.25 Homeowner's InsuranceChange Payment Information
4954 Bitner Street | MLS# W7885450
This multi-family property located at 4954 Bitner Street, New Port Richey, FL 34652 is currently listed for sale with an asking price of $3,186,000. Search New Port Richey real estate on www.realtymark.net today.