Tampa Multifamily Redevelopment
2402 N HIGHLAND AVENUE Tampa, FL 33602
2402 N HIGHLAND AVENUE, Tampa, FL, 33602
$1,399,000
For Sale
$1,399,000
Multi-Family 5+ - TAMPA, FL
Property Size5,288 SF
Lot Size0.25 Acres
Price / SF$264.56
Days on Market368
Property Features for 2402 N HIGHLAND AVENUE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RM-24
- Bedrooms
- 8
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking features
- Garage, Oversized
- Pets allowed
- Yes
- Interior features
- Eat-in Kitchen
- Exterior features
- Corner Lot, Paved, Private Mailbox
- Standard status
- Active
- APN
- A-13-29-18-4XZ-000011-00010.0
- Size
- 5,288 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 6712
Utilities
- Heating system
- Central, Ductless (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1935
- Number of units
- 8
- Building materials
- Block, Cement Siding
- Roof type
- Metal, Shingle
- Architectural style
- Other
Listing Agency
LPT REALTY, LLC
(877) 366-2213
1400 South International Parkw, Lake Mary, FL
Listed by
Stacy Dillard · License #3228574
(813) 298-7696
Added: Jul 15, 2025 Checked: Jul 17 at 5:06 pm
MLS# TB8407243
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.
Investment Insights
Based on property information with market context.
Located in an Opportunity Zone, this multifamily property features a total of 8 rental units situated across 4 buildings. The property includes a 4-bedroom, 2-bath single-family home, a 2-bedroom, 2-bath single-family home, an apartment building with 4 studio units, and two 1-bedroom, 1-bath units. Constructed in 1935, 1940, and 1946, the buildings reflect the historical character of Tampa Heights. Each unit and both homes are separately metered, with tenants responsible for all utilities except water, sewer, and a small gas bill. The 10,922-square-foot lot is zoned RM-24, offering redevelopment potential. The property is located a few blocks from Highland Park, the YMCA, Armature Works, and the Tampa Riverfront Waterworks park, as well as Perry Harvey Sr. Park’s skatepark, shopping, entertainment, dining, and cultural venues. With convenient access to Downtown Tampa, Ybor City, and Tampa International Airport, the location is suitable for residents and investors. The property has been under the same family ownership since 1960. The stately residences have the potential to increase rental income with renovations. The property benefits from corner access and an alley along the north side.
Key Highlights
- Opportunity Zone location with redevelopment potential due to RM‑24 zoning and 10,922 sq ft lot size.
- Eight rental units (mix of single‑family homes and apartments) providing immediate income potential.
- Seller financing available with a substantial down payment and favorable terms.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $112.3k | $21.24 |
| − Vacancy | −$8.0k | −$1.51 |
| EGI | $104.3k | $19.73 |
| − OpEx | −$47.0k | −$8.88 |
| NOI | $57.4k | $10.85 |
5,288 SF · lease $21.24/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$819.8K
$717.4K – $956.5K
NOI $57,388 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,237 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Multifamily property with redevelopment potential in Tampa's Opportunity Zone.
Where is this apartment building located?
The property is located at 2402 N HIGHLAND AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Opportunity Zone location with redevelopment potential due to RM‑24 zoning and 10,922 sq ft lot size.; Eight rental units (mix of single‑family homes and apartments) providing immediate income potential.; Seller financing available with a substantial down payment and favorable terms.
