Three-Unit Multifamily
114 S BUNGALOW PARK Avenue, Tampa, FL 33609
For Sale
$475,000
Residential Income, TAMPA, FL
Property Size2,160 SF
Lot Size0.28 Acres
Price / SF$219.91
Days on Market228
Property Features for 114 S BUNGALOW PARK Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Interior features
Fireplace
Subdivision
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Building materials
Roof type
Listing Agency:
RICHARD PETERS REALTY LLC
(352) 448-9712
Listed By:
Alexander Izikson · License FL #3590476
(781) 996-9676
Added: Mar 30
Changed: Nov 6
Last Checked: Nov 12 at 9:06PM
MLS# TB8491887
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.
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Investment Insights
Based on property information with market context.
Two buildings contain three residential units: a 2-bedroom, 1-bathroom house and a two-story duplex with one 1-bedroom, 1-bathroom unit on each floor. The property totals 2,160 square feet and dates to 1940. All units require renovation. The house has central air, while the duplex uses wall-mounted air-conditioning units. Roof, plumbing, and electrical updates have been completed at both buildings in recent years.
The property is in Tampa, within walking distance of Hyde Park and Downtown. I-275, Tampa International Airport, and the University of Tampa are accessible from the area. Public water and sewer serve the property, and water is separately metered. Zoning is RM-16.
The property is in Tampa, within walking distance of Hyde Park and Downtown. I-275, Tampa International Airport, and the University of Tampa are accessible from the area. Public water and sewer serve the property, and water is separately metered. Zoning is RM-16.
Key Highlights
- Three residential units across two buildings
- 2,160 square feet total; built in 1940
- RM‑16 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,212
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$504,240
$504.2K
Cap Rate 7%
$360,171
$360.2K
Cap Rate 9%
$280,133
$280.1K
Market Conditions
NOI Build-Up for 2,160 SF
Gross rent
$38.6K $17.88/SF
− Vacancy
−$2.6K −$1.21/SF
EGI
$36.0K $16.67/SF
− OpEx
−$10.8K −$5.00/SF
NOI
$25.2K $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 Rate 5%
$504,240
Cap Rate 7%
$360,171
Cap Rate 9%
$280,133
Alternative Uses
Best Use
Multifamily LT 5
$360.2K
$315.2K – $420.2K
NOI $25,212 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$334.9K
$293.0K – $390.7K
NOI $23,442 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$503.2K
$440.3K – $587.1K
NOI $35,225 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,281
Businesses Nearby
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Business Placement
Demographics for 33609, FL
17,902
Population
9,169
Households
2
Avg Household Size
38
Median Age
63%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
4,476
Density / Sq Mi
$105,083
Median Household Income
$66,567
Median Earnings
$1,818
Median Rent
$526,000
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Tampa, FL
Properties on Market for Multifamily properties in Tampa
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - RM-16 zoning and two existing buildings define this South Tampa property.
Where is this multifamily property located?
The property is located at 114 S BUNGALOW PARK Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three residential units across two buildings; 2,160 square feet total; built in 1940; RM‑16 zoning
