Andrew & Rita Barry - Tampa Bay - REALTOR®
BEDS16
BATHS
SQUARE FEET6,496
MLS#TB8480137
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONTEMPLE CREST
Property Description
7917 and 7919 Lakeshore Dr, Tampa, FL 33604. 2 READY-NOW and UPDATED Quadplexes, sharing a 16-spot parking lot. Income and Debts (seen below and do not include vacancy or property management) calculate out to a 8.44% cap rate. The value-add potential is if you fill the units with Section 8 tenants; the new approved Section 8 payment standard in this zip code is $1910/month, which would increase income to $15,280/month or $183,360/yr or 9.26% cap rate. All units look like the pictures, except for 2, because tenants have been there since owner purchased the property. The properties have newer architectural-shingle roofs (2021), only 1 old HVAC, washer/dryer in all units, fully fenced in the back, and the seller paved a large section of the lot to accommodate the 16 total parking spots and community trash. Location is 6 miles from downtown Tampa and the University of Tampa and 3 miles from the University of South Florida. Owner pays water and trash for the tenants, included in debts. RENT ROLL: 17A-$1725/month until 03/31/26 (have leased 2 years, moving out), 17B-$1650/month until 04/09/25 (have leased since before owner purchased property in March 2021, 17C-$1750/month projected (just leased to new tenant until 2/28/26), 17D-$1800/month until 02/27/27 (been there 1 year and just renewed for another), 19A-$1850/month (section 8) until 08/31/26 (been there since owner purchased in March 2021), 19B-$1825/month (section 8) until 01/31/26 (been there since owner purchased in Match 2021), 19C-$1770/month until 11/30/26 (been there 1 year and renewed), 19d-$1800/month until 09/30/26. TOTAL: $14,170/MONTH = $170,040/ANNUALLY. DEBTS: Insurance-$8,000/yr (has a cheaper option but chose the better insurance), Taxes-$14,810 last year, Landscaping-$600/yr (due to most the lot being concrete parking, there is minimal work), Pest-$1440/yr, Water and Trash-$8400/yr (accurate average trash+water bill for all units combined), Doesn't pay property manager. TOTAL: $2,770/MONTH = $33,250 ANNUALLY.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air
Heating: Central
Lot Size: 0.29 Acres
Roof Type: Shingle
Taxes: $14,810
Year Built: 1985
Amenities
Thermostat
Fence
Feature Descriptions
Annual Net Income: 136790.00
Days on Site: 44
Directions: Take 275 Hwy to E Busch Blvd, head east. Turn south onto N 40th Street. Turn west onto E River Hills Dr. Turn south onto Lakeshore Dr. Property is on the left.
Exterior: Block
Flood Zone Code: X
Foundation: Slab
Home Warranty Y/N: No
Listing Terms: Cash, Conventional, Owner Financing
Lot Dimensions: 0.29
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Multi-Family 5+
Sewer: Public Sewer
Showing Instructions: Call Listing Agent, See Remarks
Special Sale Provisions: None
Units: 2
Utilities: Public
Water: Public
Water Access Y/N: No
Zoning: RM-24
Local Schools
High School: Wharton-HB
Middle School: Sligh-HB
Elementary School: Sheehy-HB
Listed By / Shown By
Listed By
Agency Name: MCBRIDE KELLY & ASSOCIATES
Agency Contact: 813-254-0900
Shown By
Agent Name: Andrew & Rita Barry - Tampa Bay - REALTOR®
Agent Phone: (786) 216-8151
Agency Title: Florida Executive Realty
Estimate Your Payment
Estimated Payment
$ 5,312.08 per month $3,605.42 Principal & Interest $1,234.17 Property Tax $472.50 Homeowner's InsuranceChange Payment Information
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7917 Lakeshore Drive | MLS# TB8480137
This multi-family property located at 7917 Lakeshore Drive, Tampa, FL 33604 is currently listed for sale with an asking price of $1,620,000. Search Tampa real estate on barryteam.floridaexecutiverealty.com today.