Renovated Triplex with Detached
For Sale
$650,000
Pending
1406 E 21ST, Tampa, FL 33605
Three-unit residential income property with a detached accessory dwelling unit and recent renovations.
Property Size2,127 SF
Days on Market57
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Property Features for 1406 E 21ST
General Information
Standard status
Pending
Size
2,127 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,530
Building Details
Building Size
2,127 SF
Year Built
1926
Year Renovated
2023
Units
3
Listing Agency:
Keller Williams Realty Tampa Central
Listed By:
Kamilla Altunyan · License #SL3333610
(813) 365-8765
Source:
Elliman
Added: Aug 20
Changed: Oct 5
Last Checked: Oct 15 at 12:25AM
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 Keller Williams Realty Tampa Central
Investment Insights
Based on property information with market context.
This triplex was renovated in 2023 and includes three separate residences. The primary structure contains one three-bedroom, one-bath unit and one two-bedroom, one-bath unit. A detached one-bedroom, one-bath accessory dwelling unit provides a separate living arrangement and is currently leased with approximately seven months remaining on the lease. The other two residences are vacant, allowing a new owner to establish occupancy and leasing terms.
Located at 1406 E 21ST in Tampa’s V.M. Ybor neighborhood, the property is less than a 10-minute drive from Downtown Tampa and minutes from Ybor City, Tampa Heights, Armature Works, and the Tampa Riverwalk. The 1926 property combines a three-unit configuration with recent renovation work and access to Tampa’s urban core.
Located at 1406 E 21ST in Tampa’s V.M. Ybor neighborhood, the property is less than a 10-minute drive from Downtown Tampa and minutes from Ybor City, Tampa Heights, Armature Works, and the Tampa Riverwalk. The 1926 property combines a three-unit configuration with recent renovation work and access to Tampa’s urban core.
Key Highlights
- Three‑unit configuration with 3‑bedroom, 1‑bath and 2‑bedroom, 1‑bath residences
- Detached 1‑bedroom, 1‑bath accessory dwelling unit
- Renovated in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,827
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$496,540
$496.5K
Cap Rate 7%
$354,671
$354.7K
Cap Rate 9%
$275,856
$275.9K
Market Conditions
NOI Build-Up for 2,127 SF
Gross rent
$38.0K $17.88/SF
− Vacancy
−$2.6K −$1.21/SF
EGI
$35.5K $16.67/SF
− OpEx
−$10.6K −$5.00/SF
NOI
$24.8K $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%
$496,540
Cap Rate 7%
$354,671
Cap Rate 9%
$275,856
Alternative Uses
Best Use
Multifamily LT 5
$354.7K
$310.3K – $413.8K
NOI $24,827 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$329.8K
$288.5K – $384.7K
NOI $23,083 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$495.5K
$433.6K – $578.1K
NOI $34,687 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,244
Businesses Nearby
Explore this area
Business Placement
Demographics for 33605, FL
18,243
Population
8,994
Households
2
Avg Household Size
36
Median Age
21%
College-Educated
79%
High-School Grad
7.8 sq mi
ZIP Area
2,339
Density / Sq Mi
$36,790
Median Household Income
$35,889
Median Earnings
$1,122
Median Rent
$235,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property with a detached accessory dwelling unit and recent renovations.
Where is this triplex located?
The property is located at 1406 E 21ST Tampa, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑unit configuration with 3‑bedroom, 1‑bath and 2‑bedroom, 1‑bath residences; Detached 1‑bedroom, 1‑bath accessory dwelling unit; Renovated in 2023
