Displaying: For Sale
Location: New Port Richey
Property Type(s): Villas
Price: $1,000,000+
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New Port Richey - 1 properties found
4954 BITNER ST, NEW PORT RICHEY, FL 34652
$3,186,00051 Days on yellowkey MLS ID: W7885459
Bed: 53 Bath: 40.0 Gar: 1 Liv Area Sq Ft: 801 Built: 1973Monthly Fee: $308 Tax: $1,080 (2025)Community: New Port ColonyVilla
Market Analysis: For SaleFor RentSoldRented
Nearby Properties: For SaleFor RentSoldRented
Taxes:$1,080
Elementary School: None
High School: None
Tax Year: 2025
Middle School: None
Remarks: New Port Colony | 36-Unit Multifamily Investment | New Port Richey, FL | 10% Cap Rate. Turnkey multifamily investment. This 36-unit, 55+ community in New Port Richey, Florida is generating a 10% cap rate. 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.
Listing is courtesy of: RE/MAX MARKETING SPECIALISTS (727-853-7801)
Listing Agent: Nicholas Vavoulis (727-234-3743)
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