$100 (*More Info)
$598,000 Reduced by $17,000 (2.8%)
Investor opportunity in Largo featuring a 4-unit income-producing property with immediate cash flow and strong upside potential. The property consists of two separate block buildings, each containing two 1-bedroom, 1-bathroom units, situated on a 11, 622 sq ft lot. One building totals approximately 1, 256 sq ft, while the second building totals approximately 1, 480 sq ft including two attached garages, bringing the total building size to approximately 2, 736 sq ft. Currently three units are occupied and one unit is vacant, allowing a buyer the opportunity to immediately place a tenant at market rent or occupy the unit if desired. Current rents are $1, 500/month, $1, 300/month, and $1, 100/month, with the vacant unit projected to rent for approximately $1, 145/month. With minor optimization and turnover improvements, similar units in the area suggest potential rents of approximately $1, 400–$1, 450 per month, presenting strong upside for investors looking to increase cash flow over time. The property offers multiple value-add opportunities. Two single-car garages (180 sq ft each) currently provide additional flexibility. One unit currently utilizes a garage without additional rent, while the second garage is available and could generate additional income estimated at $100+/month per garage. Each garage also includes laundry also, creating the possibility for coin-operated laundry income for tenants. Additional features include separate electric meters for tenants on the building that has the two garages , shared electric on the othere, separate water heaters for each unit, off-street parking, and long-term tenants currently on annual leases. Two tenants are currently supported through the local housing authority program, offering additional payment stability. Water is currently paid by the landlord but may offer an opportunity for investors to implement a RUBS (Ratio Utility Billing System) to further improve operating income. The property has also seen recent improvements, including a new roof installed in December 2024 on one building, while the other roof was installed in October 2017. Most units have recently been cleaned and refreshed to maximize rental potential, and one unit includes a private fenced yard area, adding additional tenant appeal. Constructed in 1955 and 1957, the property is believed to be block construction (to be verified by the buyer) and is located in Flood Zone X. For investors seeking a stable multi-family asset with immediate income and clear pathways to increase revenue, this property offers an excellent addition to a rental portfolio. Professional management is currently in place and can continue managing the property if desired, allowing for a seamless transition for the new owner.
Additional Remarks: