Quadplex with Attached Two-Car
For Sale
$2,399,900
113 S NEWPORT Avenue, Tampa, FL 33606
MULTI_FAMILY - TAMPA, FL
Property Size7,260 SF
Lot Size0.21 Acres
Price / SF$330.56
Days on Market276
Property Features for 113 S NEWPORT Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-24
Bedrooms
12
Bathrooms
16
Full bathrooms
16
Rooms
Bathroom 8, Bedroom 4, Bedroom 8, Bathroom 7, Bedroom 12, Bathroom 4, Bedroom 1, Bathroom 16, Bedroom 6, Bathroom 15, Bathroom 12, Bedroom 2, Bathroom 6, Bedroom 5, Bathroom 1, Bedroom 7, Bathroom 11, Bedroom 3, Bathroom 5, Bathroom 14, Bathroom 13, Bedroom 11, Bathroom 9, Bathroom 3, Bathroom 10, Bedroom 9, Bedroom 10, Family Room, Bathroom 2
Parking features
Driveway
Patio and Porch features
Porch, Deck
Interior features
Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Walk-In Closet(s)
Exterior features
Balcony, Sidewalk
Subdivision
NEWPORT PALMS TWNHMS
Directions
Head north on S Bayshore Blvd, toward the Hyde Park area. Continue west until you reach S Howard Ave. Turn left (south) onto S Howard Ave. Continue a short distance, then turn right onto W Swann Ave. Follow W Swann Ave to S Newport Ave and turn left onto S Newport Ave. Destination will be on your right at 113 S Newport Ave
Standard status
Active
APN
A-23-29-18-9FN-000000-00001.0
Size
7,260 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NEWPORT PALMS TOWNHOMES LOT 1, 2, 3, 4
Tax Annual Amount
38800
Legal Description
NEWPORT PALMS TOWNHOMES LOT 1, 2, 3, 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
balconies
in-unit laundry
Building Details
Year built
2008
Number of units
4
Building materials
Block, Frame
Roof type
Membrane
Listing Agency:
KELLER WILLIAMS TAMPA CENTRAL · Keller Williams Realty
(813) 865-0700
Listed By:
Kamilla Altunyan · License #SL3333610
(813) 365-8765
Added: Nov 13, 2025
Changed: Aug 13
Last Checked: Aug 16 at 4:06PM
MLS# TB8447675
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Quadplex opportunity consisting of four townhome units being sold together as one cluster, with each unit having its own parcel ID numbers. The residences are designed as three-story floorplans with 3 bedrooms and 3.5 bathrooms per unit, including a first-floor bedroom with a full en-suite bath and upper-level open-concept living with a family room, dining area, and kitchen. Kitchens include stainless steel appliances, granite countertops, cherry cabinetry, and breakfast bar seating, with access to a balcony. The third level provides two bedrooms with en-suite full baths, including a primary suite with dual vanities and a walk-in shower. Interior features include ceiling fans, walk-in closets, and in-unit laundry located on the upper level.
Exterior amenities include balconies on the 2nd and 3rd floors, plus a deck and porch. Parking is provided via attached two-car garages with driveway access. Construction is block with frame elements, with central heating and central air conditioning.
Property details include a 0.21-acre lot and a 7,260-square-foot total property size, built in 2008. Roof improvements include a brand new 2026 membrane roof installed with a 5-year workmanship warranty. Utilities include cable availability, with public water and public sewer.
Exterior amenities include balconies on the 2nd and 3rd floors, plus a deck and porch. Parking is provided via attached two-car garages with driveway access. Construction is block with frame elements, with central heating and central air conditioning.
Property details include a 0.21-acre lot and a 7,260-square-foot total property size, built in 2008. Roof improvements include a brand new 2026 membrane roof installed with a 5-year workmanship warranty. Utilities include cable availability, with public water and public sewer.
Key Highlights
- Four townhome units sold together, each with its own parcel ID numbers
- Brand new 2026 membrane roof installed with a 5‑year workmanship warranty
- 0.21‑acre lot and 7,260‑square‑foot total property size
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,742
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,694,840
$1.7M
Cap Rate 7%
$1,210,600
$1.2M
Cap Rate 9%
$941,578
$941.6K
Market Conditions
NOI Build-Up for 7,260 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$129.8K $17.88/SF
− Vacancy
−$8.7K −$1.21/SF
EGI
$121.1K $16.67/SF
− OpEx
−$36.3K −$5.00/SF
NOI
$84.7K $11.67/SF
Area
Tampa, FL
Vacancy
6.74%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,694,840
Cap Rate 7%
$1,210,600
Cap Rate 9%
$941,578
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,742 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$1.13M
$984.9K – $1.31M
NOI $78,790 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,396 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,887
Businesses Nearby
Explore this area
Business Placement
Demographics for 33606, FL
22,271
Population
10,918
Households
2
Avg Household Size
30
Median Age
77%
College-Educated
98%
High-School Grad
3.3 sq mi
ZIP Area
6,749
Density / Sq Mi
$113,634
Median Household Income
$46,311
Median Earnings
$1,931
Median Rent
$796,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - RM-24 quadplex featuring central HVAC, balconies, and attached two-car garages with four separate townhome units.
Where is this quadplex located?
The property is located at 113 S NEWPORT Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $2,399,900.
What are key features of this property?
This property features: Four townhome units sold together, each with its own parcel ID numbers; Brand new 2026 membrane roof installed with a 5‑year workmanship warranty; 0.21‑acre lot and 7,260‑square‑foot total property size
