1511 E 140TH AVENUE
Tampa, FL 33613
$1,475,000
EIGHT-UNIT MULTIFAMILY INVESTMENT OPPORTUNITY IN TAMPA'S UNIVERSITY AREA! Situated on approximately 0.52 acres, this property features eight 2-bedroom, 1-bathroom apartments across four separate, single-story concrete-block duplex buildings. Conveniently located near the University of South Florida, major employment centers, shopping, dining, and interstate access, this property offers an attractive opportunity for investors seeking a multifamily asset with significant rental income potential.
Current ownership has invested extensively in property improvements, with an emphasis on quality materials, durability, and long-term value. Renovated units feature upgrades such as granite and quartz countertops, tile flooring, beautifully tiled tub surrounds, updated kitchens and bathrooms, and other modern finishes. Additional property improvements include replacement windows in numerous units, attractive black aluminum perimeter fencing, landscaping, and palm trees. Renovation levels and finishes vary by unit.
FOUR UNITS CURRENTLY OCCUPIED AND FOUR VACANT, providing the next owner with the flexibility to establish new leases at market rates while benefiting from existing rental income. Current occupied rents total $5,875 per month, with estimated market rental potential of $12,125 per month ($145,500 annually) at full occupancy. Unit A also has a scheduled rent increase during the second year of its lease. Tenants are responsible for their individual electric utilities, while ownership provides water and sewer service.
With its solid concrete-block construction, desirable all-2-bedroom unit mix, substantial owner improvements, and opportunity to increase occupancy and rental income, this property presents a compelling investment opportunity in Tampa's University Area. Offering Memorandum, rent roll, and additional financial ...
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Listing Courtesy of: LIPPLY REAL ESTATE
727-314-1000
| Listing Id: | TB8565766 |
|---|---|
| List Price: | $1,475,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Quadruplex |
| Status: | Active |
| Bedrooms Total: | 16 |
| Bathrooms Full: | 8 |
| Living Area: | 5,616 |
| Tax Annual Amount: | $17,737 |
| Lot Size Square Feet: | 22,794 |
| Lot Size Acres: | 0.52 |
| Waterfront?: | No |
| City: | Tampa |
| County Or Parish: | Hillsborough |
| Subdivision Name: | Byars Revision Of Sunnyland Ac |
| Postal Code: | 33613 |
| Year Built: | 1981 |
| Number Of Units Total: | 8 |
| Additional Parcels?: | No |
| Appliances: | Electric Water Heater, Exhaust Fan, Range, Range Hood, Refrigerator |
| Bathrooms Total Integer: | 8 |
| Building Area Source: | Public Records |
| Building Area Total: | 5616 |
| Building Area Units: | Square Feet |
| Carport?: | No |
| Foundation Details: | Slab |
| Construction Materials: | Block |
| Cooling: | Mini-Split Unit(s) |
| Directions: | From I 275, exit 52. East on Fletcher ave, left onto N15th, right onto E 140th, property will be on the right |
| Elementary School: | Mort-HB |
| Exterior Features: | Fence, Lighting, Private Mailbox, Private Yard, Sidewalk |
| Flooring: | Ceramic Tile |
| Furnished: | Unfurnished |
| Garage?: | No |
| Gross Income: | $121,280 |
| Heating: | Electric, Ductless |
| High School: | Freedom-HB |
| Interior Features: | Ceiling Fans(s), Living Room/Dining Room Combo, Primary Bedroom Main Floor, Solid Surface Counters, Stone Counters |
| Laundry Features: | None |
| Lease Term: | Twelve Months |
| Levels: | One |
| Listing Contract Date: | 2026-11-09 |
| Ownership: | Fee Simple |
| Living Area Source: | Public Records |
| Living Area Units: | Square Feet |
| Lot Features: | Landscaped, Sidewalk, Paved |
| Lot Size Acres: | 0.52 |
| Lot Size Dimensions: | 174x131 |
| Postal Code Plus4: | 3569 |
| Middle Or Junior School: | Buchanan-HB |
| MLS Area Major: | 33613 - Tampa |
| MLS Area Major: | 33613 - Tampa |
| Original List Price: | $1,475,000 |
| Other Equipment: | Private Yard |
| Parcel Number: | U-06-28-19-1GH-000006-00006.0 |
| Parking Features: | Common, Guest, Off Street |
| Township: | 28 |
| Road Surface Type: | Asphalt |
| Roof: | Shingle |
| Listing Terms: | Cash, Conventional, Trade |
| Tax Year: | 2025 |
| Senior Community?: | No |
| Sewer: | Public Sewer |
| Special Listing Conditions: | None |
| State Or Province: | FL |
| Association?: | No |
| Tenant Pays: | Electricity |
| Total Actual Rent: | $5,875 |
| Financial Data Source: | Owner |
| Utilities: | BB/HS Internet Available, Cable Available, Cable Connected, Electricity Available, Electricity Connected, Sewer Connected, Water Connected |
| Water Source: | Public |
| Public Survey Range: | 19 |
| Public Survey Section: | 06 |
| Zoning: | RMC-20 |
| Alternate Key Folio Num: | 0355840000 |
| Annual Expenses: | 50569 |
| Annual Net Income: | 70711.00 |
| Building Area Total Srch Sq M: | 521.74 |
| Calculated List Price By Calcula: | 262.64 |
| Cddyn: | No |
| Est Annual Market Income: | 145500.00 |
| Flood Zone Code: | X |
| Green Verification Count: | 0 |
| Listing Exclusion Yn: | No |
| Living Area Meters: | 521.74 |
| Lot Size Square Meters: | 2118 |
| Sdeo yn: | No |
| Terms Of Lease: | Gross Lease |
| Total Acreage: | 1/2 to less than 1 |
| Total Monthly Expenses: | 4214 |
| Total Num Buildings: | 4 |
| Unit Count: | 1 |
| Unit Number Yn: | No |
| Water Access Yn: | No |
| Water Extras Yn: | No |
| Water View: | No |
| Individually Metered: | Electric |
| Association 2 Yn: | 0 |
| Attribution Contact: | 727-314-1000 |
| Originating System Name : | Stellar MLS |
| Green Energy Generation Yn: | No |
| Fireplace?: | No |
| Pool Private?: | No |
| New Construction?: | No |
| New Construction?: | No |
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Property Last Updated: November 10, 2026 03:57 AM - ET
