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    Turn-Key Quadplex with Parking Title is generated by Realmo AI

    2109 W DE LEON STREET, Tampa, FL 33606

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    Pending
    $1,300,000

    Quadruplex - TAMPA, FL

    Type:Quadruplex
    Property size:
    3,024 SF
    Lot size:
    0.19 Acres
    Added:
    May 8, 2026
    Days on Market:
    31
    Last Refresh:
    Jun 7 at 4:06 am

    Property Features for 2109 W DE LEON STREET

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Zoning
    RM-16
    Bedrooms
    8
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Off Street, Open
    Interior features
    Ceiling Fans(s), Solid Surface Counters, Solid Wood Cabinets
    Exterior features
    Sidewalk
    Standard status
    Pending
    APN
    A-23-29-18-4SB-000012-00007.0
    Size
    3,024 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    16053.43

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1980
    Number of units
    1
    Building materials
    Frame
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Mike Hydorn

    Listing agent Mike Hydorn License #3305911

    Listing office KELLER WILLIAMS TAMPA PROP. 5020 W Linebaugh Ave Ste 100, Tampa, FL

    Listing date May 8, 2026

    MLS# TB8507243 Listing URL

    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.

    HighLights

    • Quadriplex on a 65' x 126' lot (8,190 SF) zoned RM‑16
    • 4 units, each approx. 740 SF with 2 bedrooms, a full bathroom, and an inside laundry room
    • All units are currently leased through 2027 and beyond
    • Parking area recently resurfaced with capacity for up to 10 vehicles
    • Units 1 and 3 updated with a more open floor plan
    • Each unit has its own electric meter; one shared water meter for the building

    Overview

    This turn-key quadplex is professionally managed and configured as four rental units, each with approximately 740 square feet. Units include two bedrooms, a full bathroom, an inside laundry room, and ample closet space. Units 1 and 3 have been updated to create a more open floor plan, and the remaining units are described as well maintained. A property manager’s closet is located under the stairs for added convenience. The recently resurfaced parking area accommodates up to 10 vehicles, supporting tenants who do not want to rely on residential street parking permits. Each unit has its own electric meter, and the building has one water meter.

    Set on a 65' x 126' lot, the property totals 8,190 square feet and is zoned RM-16. The listing describes the location as two blocks from Tampa’s SoHo entertainment district and less than half a mile from Hyde Park Village, with showings available by appointment only to respect tenant privacy.

    With all units currently leased into 2027 and beyond, this asset is positioned for investors or operators seeking steadier cash flow without immediate unit turnover. The combination of unit-level electric metering, dedicated parking, and documented interior updates in part of the building may appeal to buyers focused on maintaining strong tenant experience while retaining long-term leasing momentum.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.481688
    Latitude
    27.938777

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    FAQs

    What type of property is this?
    Quadplex - Professionally managed, fully leased quadplex with updates, in-unit laundry, and parking for up to 10 vehicles.
    Where is this quadplex located?
    The property is located at 2109 W DE LEON STREET Tampa, FL.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Quadriplex on a 65' x 126' lot (8,190 SF) zoned RM‑16; 4 units, each approx. 740 SF with 2 bedrooms, a full bathroom, and an inside laundry room; All units are currently leased through 2027 and beyond
    (813) 335-5241
    We can help!
    Listing Contact
    Mike Hydorn
    Real Estate License ID: 3305911
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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