New Port Richey Multiplex
For Sale
$449,930
5100 SOUTH RD, New Port Richey, FL 34652
Well-maintained, fully-leased multiplex in desirable New Port Richey location.
Property Size2,753 SF
Days on Market554
Property Features for 5100 SOUTH RD
General Information
Standard status
Active
Size
2,753 SF
Property subtype
Multi-Family 5+
Taxes and HOA fees
Annual Taxes
$5,455
Building Details
Building Size
2,753 SF
Year Built
1956
Listing Agency:
FUTURE HOME REALTY INC
Listed By:
Susan McGowan · License #3155686
(813) 484-8655
Source:
Kingofrealestate
Added: Apr 4, 2025
Changed: Oct 6
Last Checked: Oct 7 at 5:52PM
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 FUTURE HOME REALTY INC
Investment Insights
Based on property information with market context.
This well-maintained multiplex property presents an investment opportunity with five fully-leased units, generating consistent income. Each unit has been renovated with new A/C units, water heaters, remodeled kitchens, and remodeled bathrooms. Situated in a desirable New Port Richey neighborhood, the property benefits from strong demand for rental units. Its location provides easy access to major transportation routes, shopping centers, and local amenities. The property is in turnkey condition, with regular maintenance and updates. It features a block structure, a separate laundry building, and a newer roof installed in 2020. This multiplex offers investors a chance for a stable, income-producing asset with long-term appreciation potential.
Key Highlights
- Five fully‑leased, renovated units generate consistent income.
- Prime New Port Richey location with high rental demand and future growth potential.
- Turnkey condition minimizes immediate capital expenditures.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,320
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,400
$506.4K
Cap Rate 7%
$361,714
$361.7K
Cap Rate 9%
$281,333
$281.3K
Market Conditions
NOI Build-Up for 2,753 SF
Gross rent
$49.6K $18.00/SF
− Vacancy
−$3.5K −$1.28/SF
EGI
$46.0K $16.72/SF
− OpEx
−$20.7K −$7.52/SF
NOI
$25.3K $9.20/SF
Area
Pasco County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,400
Cap Rate 7%
$361,714
Cap Rate 9%
$281,333
Alternative Uses
Best Use
Apartment 5plus
$361.7K
$316.5K – $422.0K
NOI $25,320 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$627.1K
$548.7K – $731.6K
NOI $43,898 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
Explore this area
Business Placement
Demographics for 34652, FL
26,697
Population
14,700
Households
1.8
Avg Household Size
51
Median Age
20%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
3,104
Density / Sq Mi
$52,396
Median Household Income
$36,819
Median Earnings
$1,189
Median Rent
$198,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained, fully-leased multiplex in desirable New Port Richey location.
Where is this apartment building located?
The property is located at 5100 SOUTH RD New Port Richey, FL.
What is the asking price?
The asking price for this property is $449,930.
What are key features of this property?
This property features: Five fully‑leased, renovated units generate consistent income.; Prime New Port Richey location with high rental demand and future growth potential.; Turnkey condition minimizes immediate capital expenditures.
