Quadplex With Private
For Sale
$414,900
1402 MALUHIA Drive, Tampa, FL 33612
Residential Income, TAMPA, FL
Property Size2,555 SF
Lot Size0.36 Acres
Price / SF$162.39
Days on Market40
Property Features for 1402 MALUHIA Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RMC-16
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 3, Bedroom 2
Interior features
Ceiling Fans(s)
Subdivision
HAMNERS W E HOMESTEAD ACRES
Directions
From I-275S, take exit 51 toward Fowler Avenue, turn right to Fowler Avenue, turn left to N 14th St., then 1st right onto Maluhia Dr.
Special listing conditions
In Foreclosure, Real Estate Owned
Standard status
Active
APN
U-07-28-19-1GN-D00000-00013.0
Size
2,555 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HAMNER'S W E HOMESTEAD ACRES LOT 13 LESS E 152.5 FT OF LOT 13 BLOCK D AND LESS THE S 20 FT OF LOT 13 LESS E 152.5 FT
Tax Annual Amount
6811
Legal Description
HAMNER'S W E HOMESTEAD ACRES LOT 13 LESS E 152.5 FT OF LOT 13 BLOCK D AND LESS THE S 20 FT OF LOT 13 LESS E 152.5 FT
Utilities
Sewer type
Public Sewer
Heating system
Central, Ductless (Heating)
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1956
Building materials
Block
Roof type
Shingle
Listing Agency:
MCPEAK REAL ESTATE FIRM
(813) 495-3875
Listed By:
Jim McPeak · License #472936
(813) 495-3875
Added: Jul 21
Changed: Aug 20
Last Checked: Aug 29 at 11:06PM
MLS# TB8531143
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.
This quadplex property comprises two buildings connected by a private road on a 0.36-acre parcel. The improvements total 2,555 square feet and were constructed in 1956, with block construction, shingle roofing, ceiling fans, and a mix of central and ductless heating. Cooling includes central air along with wall or window units. The interior includes bedrooms and bathrooms, while public water and public sewer serve the property.
Located in Tampa near the University of South Florida, the property is also described as being close to major roads, shopping, and restaurants. Zoning is RMC-16. Some listing photographs are virtually staged.
Located in Tampa near the University of South Florida, the property is also described as being close to major roads, shopping, and restaurants. Zoning is RMC-16. Some listing photographs are virtually staged.
Key Highlights
- Quadplex consisting of 2 buildings with a private road
- 2,555 square feet on 0.36 acres
- RMC‑16 zoning
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
$29,823
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
7.19%
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%
$596,460
$596.5K
Cap Rate 7%
$426,043
$426.0K
Cap Rate 9%
$331,367
$331.4K
Market Conditions
NOI Build-Up for 2,555 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
$45.7K $17.88/SF
− Vacancy
−$3.1K −$1.21/SF
EGI
$42.6K $16.67/SF
− OpEx
−$12.8K −$5.00/SF
NOI
$29.8K $11.67/SF
Area
ZIP 33612
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%
$596,460
Cap Rate 7%
$426,043
Cap Rate 9%
$331,367
Alternative Uses
Best Use
Multifamily LT 5
$426.0K
$372.8K – $497.1K
NOI $29,823 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$396.1K
$346.6K – $462.1K
NOI $27,728 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$582.0K
$509.3K – $679.0K
NOI $40,741 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,172
Businesses Nearby
Explore this area
Business Placement
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
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 - Two-building property with block construction and public utilities near USF.
Where is this quadplex located?
The property is located at 1402 MALUHIA Drive Tampa, FL.
What is the asking price?
The asking price for this property is $414,900.
What are key features of this property?
This property features: Quadplex consisting of 2 buildings with a private road; 2,555 square feet on 0.36 acres; RMC‑16 zoning
