Three-Unit Multifamily
For Sale
$440,000
1403 COLLEGE PARK Lane, Tampa, FL 33612
Residential Income, TAMPA, FL
Property Size1,656 SF
Lot Size0.25 Acres
Price / SF$265.70
Days on Market219
Property Features for 1403 COLLEGE PARK Lane
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RMC-12
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 4
Pets allowed
Breed Restrictions
Interior features
Window Treatments
Exterior features
Fence, Lighting, Sidewalk
Fencing
Fenced
Subdivision
HAMNERS W E HOMESTEAD ACRES
Lot features
Cul-De-Sac, Paved
Elementary school
Miles-HB
Middle school
Liberty-HB
High school
Freedom-HB
Directions
E. Fowler Avenue (east of I-275 & west of Bruce B. Downs), go north on N. 15 Street, left on College Park Lane, property is at the end on the left
Standard status
Active
APN
U-07-28-19-1GN-D00000-00008.4
Size
1,656 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
HAMNER'S W E HOMESTEAD ACRES PART OF LOT 8 BLOCK 9 DESC AS BEG AT SW COR OF SAI LOT 8 THN N 00 DEG 07 MIN 40 SEC W ALONG W BDRY OF SAID LOT 8 80.00 FT THN N 77 DEG 37 MIN 40 SEC E 102.33 FT THN N 00 DEG 07 MIN 40 SEC W 25.00 FT TO POINT OF INTERSECTI ON WITH N BDRY OF LOT 8 THN E 14.85 FT THN S 00 DEG 07 MIN 40 SEC E 126.93 FT TO POINT OF INTERSECTION WITH S BDRY OF SAID LOT 8 THN W 114.85 FT TO POB
Tax Annual Amount
5258
Legal Description
HAMNER'S W E HOMESTEAD ACRES PART OF LOT 8 BLOCK 9 DESC AS BEG AT SW COR OF SAI LOT 8 THN N 00 DEG 07 MIN 40 SEC W ALONG W BDRY OF SAID LOT 8 80.00 FT THN N 77 DEG 37 MIN 40 SEC E 102.33 FT THN N 00 DEG 07 MIN 40 SEC W 25.00 FT TO POINT OF INTERSECTI ON WITH N BDRY OF LOT 8 THN E 14.85 FT THN S 00 DEG 07 MIN 40 SEC E 126.93 FT TO POINT OF INTERSECTION WITH S BDRY OF SAID LOT 8 THN W 114.85 FT TO POB
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1965
Number of units
3
Building materials
Concrete
Roof type
Shingle
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Michael Brule · License #3074964
(813) 417-1260
Added: Jan 26
Changed: Sep 1
Last Checked: Sep 2 at 5:06PM
MLS# TB8466971
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 three-unit multifamily property contains 1,656 square feet on a 0.25-acre lot. The unit mix includes a three-bedroom, one-bath residence with in-unit washer and dryer and central air conditioning, along with a one-bedroom, one-bath unit and an efficiency unit, each equipped with window air conditioning. The property was built in 1965 and includes fencing, exterior lighting, sidewalks, a shingle roof, public water, and public sewer.
Located near the University of South Florida, the property also offers proximity to shopping, dining, public transit, and I-275. RMC-12 zoning supports its multifamily classification. Water, sewer, and trash service are covered through the association, while each residence has separate electric metering.
Located near the University of South Florida, the property also offers proximity to shopping, dining, public transit, and I-275. RMC-12 zoning supports its multifamily classification. Water, sewer, and trash service are covered through the association, while each residence has separate electric metering.
Key Highlights
- Three‑unit property with 1,656 square feet of building area
- Unit mix includes 3 Bed / 1 Bath, 1 Bed / 1 Bath, and an efficiency / 1 Bath
- Primary unit features in‑unit washer/dryer and central A/C
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
$19,330
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
4.39%
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%
$386,600
$386.6K
Cap Rate 7%
$276,143
$276.1K
Cap Rate 9%
$214,778
$214.8K
Market Conditions
NOI Build-Up for 1,656 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
$29.6K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.6K $16.67/SF
− OpEx
−$8.3K −$5.00/SF
NOI
$19.3K $11.67/SF
Area
ZIP 33612
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%
$386,600
Cap Rate 7%
$276,143
Cap Rate 9%
$214,778
Alternative Uses
Best Use
Multifamily LT 5
$276.1K
$241.6K – $322.2K
NOI $19,330 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$256.7K
$224.7K – $299.5K
NOI $17,972 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$377.2K
$330.1K – $440.1K
NOI $26,406 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,410
Businesses Nearby
Explore this area
Business Placement
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - RMC-12 triplex with varied unit configurations, in-unit laundry, and central or window air conditioning.
Where is this triplex located?
The property is located at 1403 COLLEGE PARK Lane Tampa, FL.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Three‑unit property with 1,656 square feet of building area; Unit mix includes 3 Bed / 1 Bath, 1 Bed / 1 Bath, and an efficiency / 1 Bath; Primary unit features in‑unit washer/dryer and central A/C
