Four-Unit Block
For Sale
$599,000
8723 & 8724 N 48TH Street, Tampa, FL 33617
Residential Income, TAMPA, FL
Property Size1,656 SF
Lot Size0.13 Acres
Price / SF$361.71
Days on Market67
Property Features for 8723 & 8724 N 48TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-16
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 2, Bathroom 5, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 8, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 5, Bedroom 7
Parking features
Assigned
Interior features
Ninguno
Exterior features
Fence
Fencing
Fenced
Appliances
Electric Water Heater, Range, Refrigerator
Subdivision
DRUID HILLS REV
Elementary school
Riverhills Elem
Middle school
Greco-HB
High school
King-HB
Directions
Traveling on East Busch Blvd, turn South on N 48th Street, the properties will be on your Right and Left.
Standard status
Active
APN
A-21-28-19-43N-000010-00014.0
Size
1,656 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DRUID HILLS RE-REVISED LOT 14 BLOCK 10 *AND* DRUID HILLS RE-REVISED LOT 27 BLOCK 9
Tax Annual Amount
6642
Legal Description
DRUID HILLS RE-REVISED LOT 14 BLOCK 10 *AND* DRUID HILLS RE-REVISED LOT 27 BLOCK 9
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
dedicated laundry room
fully fenced private yard
Building Details
Year built
1973
Floors in Building
1
Number of units
4
Building materials
Block
Roof type
Shingle
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Vivian Resnick · License #3285942
(813) 410-2890
Added: Jun 24
Changed: Aug 20
Last Checked: Aug 29 at 8:06PM
MLS# TB8523844
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 asset consists of two block-construction duplexes located on separate tax parcels. Together, the buildings contain four residences, with each unit arranged as a two-bedroom, one-bath home featuring a dedicated laundry room, private fenced yard, and two assigned parking spaces. The property measures 1,656 square feet on 0.13 acres and was built in 1973. Central heating and cooling, shingle roofing, public water, and public sewer are in place.
Each duplex is separately metered for water, while tenants pay their own water and trash charges. Most units are leased, and the property is designated RM-16. The asset is not located in a flood zone and is located in Tampa, Florida.
Each duplex is separately metered for water, while tenants pay their own water and trash charges. Most units are leased, and the property is designated RM-16. The asset is not located in a flood zone and is located in Tampa, Florida.
Key Highlights
- Four total units across two duplex buildings
- Each unit includes 2 bedrooms, 1 bathroom, a laundry room, fenced yard, and 2 assigned parking spaces
- Two separate tax parcels, with one parcel for each duplex
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
$19,330
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
3.23%
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%
$386,600
$386.6K
Cap Rate 7%
$276,143
$276.1K
Cap Rate 9%
$214,778
$214.8K
Market Conditions
NOI Build-Up for 1,656 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
$29.6K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.6K $16.67/SF
− OpEx
−$8.3K −$5.00/SF
NOI
$19.3K $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%
$386,600
Cap Rate 7%
$276,143
Cap Rate 9%
$214,778
Alternative Uses
Best Use
Multifamily LT 5
$276.1K
$241.6K – $322.2K
NOI $19,330 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$256.7K
$224.7K – $299.5K
NOI $17,972 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$385.8K
$337.6K – $450.1K
NOI $27,006 @ 7.0% cap · market cap 4.51%
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
877
Businesses Nearby
Explore this area
Business Placement
Demographics for 33617, FL
48,267
Population
21,912
Households
2.2
Avg Household Size
33
Median Age
29%
College-Educated
89%
High-School Grad
8.8 sq mi
ZIP Area
5,485
Density / Sq Mi
$48,651
Median Household Income
$33,710
Median Earnings
$1,337
Median Rent
$267,200
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 separately parceled duplexes offer fenced yards, assigned parking, and individual laundry rooms for each residence.
Where is this quadplex located?
The property is located at 8723 & 8724 N 48TH Street Tampa, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Four total units across two duplex buildings; Each unit includes 2 bedrooms, 1 bathroom, a laundry room, fenced yard, and 2 assigned parking spaces; Two separate tax parcels, with one parcel for each duplex
