Tampa Multifamily Investment
1214 E 138th Ave Tampa, FL 33613
1214 E 138th Ave, Tampa, FL, 33613
$1,375,000
For Sale
$1,375,000
16-unit apartment building in Tampa's University District, 100% occupied.
Property Size4,624 SF
Price / SF$297.36
Days on Market234
Property Features for 1214 E 138th Ave
General Information
- Standard status
- Active
- Size
- 4,624 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1968
Listing Agency
(773) 573-8183
Listed by
Eugene Cronin · License #FL #SL3612814
(773) 573-8183
Source
Verdadcre
Added: Nov 25, 2025 Checked: Jul 17 at 3:02 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Eugene Cronin
Investment Insights
Based on property information with market context.
This multifamily property, located in Tampa, FL, features 16 units and was built in 1968. The property is currently 100% occupied. Zoned RMC-20, the property offers potential for future development and expansion. The location provides convenient access to the University of South Florida, Busch Gardens Tampa Bay, and Adventure Island. The area features a variety of dining and entertainment options, as well as nearby parks.
Key Highlights
- 100% Occupancy: Demonstrates immediate income generation.
- Prime Tampa Location: Offers convenient access to USF, Busch Gardens, Adventure Island, dining, entertainment, and parks.
- 16 Units: Provides a substantial investment opportunity.
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 | $98.2k | $21.24 |
| − Vacancy | −$7.0k | −$1.51 |
| EGI | $91.2k | $19.73 |
| − OpEx | −$41.1k | −$8.88 |
| NOI | $50.2k | $10.85 |
4,624 SF · lease $21.24/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$716.9K
$627.3K – $836.4K
NOI $50,182 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$942.6K – $1.26M
NOI $75,408 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 16-unit apartment building in Tampa's University District, 100% occupied.
Where is this apartment building located?
The property is located at 1214 E 138th Ave Tampa, FL.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 100% Occupancy: Demonstrates immediate income generation.; Prime Tampa Location: Offers convenient access to USF, Busch Gardens, Adventure Island, dining, entertainment, and parks.; 16 Units: Provides a substantial investment opportunity.
