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    Restored Tampa Quadplex with Upside Title is generated by Realmo AI

    2322 W CHERRY STREET, Tampa, FL 33607

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    Pending
    $895,000

    Quadruplex - TAMPA, FL

    Type:Quadruplex
    Property size:
    3,158 SF
    Lot size:
    0.07 Acres
    Added:
    Mar 14, 2026
    Days on Market:
    65
    Last Refresh:
    May 17 at 11:06 pm

    Property Features for 2322 W CHERRY STREET

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Zoning
    RM-16
    Bedrooms
    10
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Driveway, On Street
    Security features
    Smoke Detector(s)
    Pets allowed
    Cats OK, Dogs OK, Yes
    Interior features
    Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo
    Exterior features
    Balcony, Fence, Private Mailbox
    Fencing
    Fenced
    Appliances
    Dryer, Range, Refrigerator
    Standard status
    Pending
    APN
    A-14-29-18-4PQ-000031-00007.1
    Size
    3,158 SF
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    10643.96

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1903
    Number of units
    1
    Flooring type
    Laminate, Tile, Tile - Ceramic
    Building materials
    Frame, Vinyl Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Amy Greenfield
    Amy Greenfield

    Listing agent Amy Greenfield License #3190097

    Listing office KELLER WILLIAMS TAMPA CENTRAL 1208 E Kennedy Blvd, Tampa, FL

    Listing date Mar 14, 2026

    MLS# TB8486051 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

    • Turnkey quadplex fully restored in 2010, blending historic charm with modern updates.
    • Each unit features updated kitchens, appliances, fixtures, and durable vinyl plank flooring.
    • Separately metered utilities (water and electric) for each unit.
    • Excellent location near Macfarlane Park, Rick's on the River, I‑275, I‑4, Downtown, Tampa International Airport, and popular districts.
    • Low‑maintenance landscaping and partially fenced backyard.
    • Opportunity to increase income with below‑market rents; suitable for investors or owner‑occupants.

    Overview

    This two-story quadplex, originally built in 1903 and fully restored in 2010, features four units: two 2-bedroom, 1-bath units (approximately 779 sq ft each) and two 3-bedroom, 1-bath units (approximately 800 sq ft each). Each unit includes a private entrance and a stackable washer/dryer system. The kitchens have been updated with modern appliances and fixtures, and durable vinyl plank flooring has been installed within the past three years. Major system updates include AC units from 2017, 2019, and 2021 (two units), and water heaters replaced in 2021-2022. The metal roof has substantial remaining life. Each unit has separate water and electric meters. The property features low-maintenance landscaping and stone plantbeds. The backyard is partially fenced. The property is located one mile east of Macfarlane Park and Freedom Boat Club at Rick's on the River. It is also minutes from I-275 and I-4, Downtown, Tampa International Airport, International Plaza, Veterans Expressway, and the Howard Frankland Bridge to St Pete, and 10-15 minutes from Seminole/Riverside/Tampa Heights, Armature Works, and SoHo to South Tampa. The zoning is RM-16. The lot size is 0.07 acres. This property presents an opportunity for investors seeking a stabilized asset with upside potential or an owner-occupant looking to generate income while living in one of the units.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center 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
    -82.483951
    Latitude
    27.961344

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    FAQs

    What type of property is this?
    Quadplex - Turnkey, fully restored quadplex with income potential in Tampa, FL.
    Where is this quadplex located?
    The property is located at 2322 W CHERRY STREET Tampa, FL.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: Turnkey quadplex fully restored in 2010, blending historic charm with modern updates.; Each unit features updated kitchens, appliances, fixtures, and durable vinyl plank flooring.; Separately metered utilities (water and electric) for each unit.
    (813) 777-6104
    We can help!
    Listing Contact
    Amy Greenfield
    Amy Greenfield
    Real Estate License ID: 3190097
    Learn More
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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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