Quadplex With Renovation
For Sale
$550,000
10598 106TH Avenue, Largo, FL 33773
Residential Income, LARGO, FL
Property Size1,860 SF
Lot Size0.27 Acres
Price / SF$295.70
Days on Market66
Property Features for 10598 106TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R-4
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 1, Family Room, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 4, Bathroom 1, Bathroom 2
Parking features
Driveway
Interior features
Kitchen/Family Room Combo, Open Floorplan
Exterior features
Lighting
Subdivision
SEMINOLE PARK MANOR
Elementary school
Starkey Elementary-PN
Middle school
Osceola Middle-PN
High school
Seminole High-PN
Directions
Seminole Blvd, East On 106 Th Ave (Poor Bob'S Convenience Store Is On The Corner) Units Are Approx 3 Buildings Down On The Right
Standard status
Active
APN
15-30-15-80046-000-0050
Size
1,860 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SEMINOLE PARK MANOR LOT 5 & W 10FT OF LOT 6
Tax Annual Amount
7791
Legal Description
SEMINOLE PARK MANOR LOT 5 & W 10FT OF LOT 6
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central, Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1957
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Membrane
Listing Agency:
EXP REALTY LLC
(866) 308-7109
Listed By:
Jeffrey Borham, PA · License #3115528
(727) 510-0187
Added: Jul 9
Changed: Sep 2
Last Checked: Sep 12 at 6:06AM
MLS# TB8529613
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 contains four one-bedroom, one-bath residences arranged across two separate buildings, with two units in each structure. The property encompasses 1,860 square feet on 0.27 acres and includes two attached one-car garages, driveway parking, tile flooring, block and stucco construction, and public water and sewer. Three residences are occupied, while the remaining unit is being renovated. The buildings have different roof vintages, with one roof installed in 2024 and the other in 2017.
The property is in Largo, Florida, within Pinellas County and approximately 15 minutes from Indian Rocks Beach. Walsingham Park, shopping, restaurants, and everyday services are identified nearby. R-4 zoning and non-flood-zone status are also noted.
The property is in Largo, Florida, within Pinellas County and approximately 15 minutes from Indian Rocks Beach. Walsingham Park, shopping, restaurants, and everyday services are identified nearby. R-4 zoning and non-flood-zone status are also noted.
Key Highlights
- Four 1‑bedroom, 1‑bath units across two separate buildings
- 1,860 square feet on a 0.27‑acre lot
- Three units rented; fourth unit undergoing renovation
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
$21,711
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
3.95%
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%
$434,220
$434.2K
Cap Rate 7%
$310,157
$310.2K
Cap Rate 9%
$241,233
$241.2K
Market Conditions
NOI Build-Up for 1,860 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
$33.3K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$31.0K $16.67/SF
− OpEx
−$9.3K −$5.00/SF
NOI
$21.7K $11.67/SF
Area
Pinellas County, 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%
$434,220
Cap Rate 7%
$310,157
Cap Rate 9%
$241,233
Alternative Uses
Best Use
Multifamily LT 5
$310.2K
$271.4K – $361.9K
NOI $21,711 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$244.4K
$213.8K – $285.1K
NOI $17,107 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$483.8K
$423.3K – $564.4K
NOI $33,866 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 33773, FL
17,494
Population
8,353
Households
2.1
Avg Household Size
48
Median Age
31%
College-Educated
91%
High-School Grad
5.1 sq mi
ZIP Area
3,430
Density / Sq Mi
$74,115
Median Household Income
$46,759
Median Earnings
$1,567
Median Rent
$280,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property in two buildings with public utilities, separate garages, and one residence undergoing renovation.
Where is this quadplex located?
The property is located at 10598 106TH Avenue Largo, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath units across two separate buildings; 1,860 square feet on a 0.27‑acre lot; Three units rented; fourth unit undergoing renovation
