Turnkey Quadplex
2010 E WATERS AVENUE Tampa, FL 33604
2010 E WATERS AVENUE, Tampa, FL, 33604
$519,900
For Sale
$519,900
Upgraded quadplex with four updated units; three are currently rented and electricity is separately metered.
Property Size1,625 SF
Price / SF$319.94
Days on Market534
Property Features for 2010 E WATERS AVENUE
General Information
- Standard status
- Active
- Size
- 1,625 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1962
Listing agency
RE/MAX REALTEC GROUP INC
(813) 616-0846
Listed by
Dylan Lawrence · License #3518205
(813) 616-0846
Source
Exitrealty
Added: Feb 3, 2025 Updated: Jul 21 at 11:24PM Checked: Jul 22 at 7:16AM
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 RE/MAX REALTEC GROUP INC
Investment Insights
Based on property information with market context.
This upgraded quadplex includes four updated residential units: one 1-bedroom and three studios. Three units are currently rented, while the fourth unit is available for a new tenant. The property is described as low-maintenance, with each unit updated.
Separately metered electricity is in place, while water is not separately metered. Buyer is instructed to verify all unit measurements.
As a turnkey residential income property, it offers an in-place mix of occupied units and an additional unit ready for occupancy.
Separately metered electricity is in place, while water is not separately metered. Buyer is instructed to verify all unit measurements.
As a turnkey residential income property, it offers an in-place mix of occupied units and an additional unit ready for occupancy.
Key Highlights
- Upgraded quadplex built in 1962 with 4 updated units
- Unit mix includes 1 one‑bedroom (1/1) and 3 studio apartments
- Three units are currently rented, with the fourth unit ready for a new tenant
Local Financial Insights For Multifamily LT 5
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 | $29.1k | $17.88 |
| − Vacancy | −$2.0k | −$1.21 |
| EGI | $27.1k | $16.67 |
| − OpEx | −$8.1k | −$5.00 |
| NOI | $19.0k | $11.67 |
1,625 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$271.0K
$237.1K – $316.1K
NOI $18,968 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$251.9K
$220.4K – $293.9K
NOI $17,635 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$378.6K
$331.3K – $441.7K
NOI $26,501 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - Upgraded quadplex with four updated units; three are currently rented and electricity is separately metered.
Where is this quadplex located?
The property is located at 2010 E WATERS AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Upgraded quadplex built in 1962 with 4 updated units; Unit mix includes 1 one‑bedroom (1/1) and 3 studio apartments; Three units are currently rented, with the fourth unit ready for a new tenant
