Renovated Triplex with Detached
For Sale
$650,000
Pending
1406 E 21ST AVE, Tampa, FL 33605
Three separate residences include a detached accessory dwelling unit and a combination of vacant and leased spaces.
Property Size2,127 SF
Days on Market58
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Property Features for 1406 E 21ST AVE
General Information
Standard status
Pending
Size
2,127 SF
Property subtype
Triplex
Units
Unit Mix
1 x 3BR/2BA, 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
Listing Agency:
KELLER WILLIAMS TAMPA CENTRAL
Listed By:
Kamilla Altunyan · License #SL3333610
(813) 365-8765
Source:
Judibeck
Added: Aug 19
Changed: Oct 9
Last Checked: Oct 15 at 7:29AM
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 TAMPA CENTRAL
Investment Insights
Based on property information with market context.
This triplex in V.M. Ybor includes three residences: a 3-bedroom, 2-bath main unit, a 2-bedroom, 1-bath unit, and a detached 1-bedroom, 1-bath accessory dwelling unit. Major renovations were completed in 2023. The two units within the main residence are vacant, while the detached unit is leased with approximately seven months remaining on its term.
The property is at 1406 E 21ST AVE in Tampa, Florida, less than a 10-minute drive from Downtown Tampa and minutes from Ybor City, Tampa Heights, Armature Works, and the Tampa Riverwalk. Its location also places the property near employment, entertainment, development, and redevelopment activity throughout Tampa’s urban core.
The property is at 1406 E 21ST AVE in Tampa, Florida, less than a 10-minute drive from Downtown Tampa and minutes from Ybor City, Tampa Heights, Armature Works, and the Tampa Riverwalk. Its location also places the property near employment, entertainment, development, and redevelopment activity throughout Tampa’s urban core.
Key Highlights
- Three‑unit configuration with a 3‑bedroom, 2‑bath unit, a 2‑bedroom, 1‑bath unit, and a detached 1‑bedroom, 1‑bath ADU
- Major property renovations completed in 2023
- Detached ADU lease has approximately seven months remaining
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
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
777
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences include a detached accessory dwelling unit and a combination of vacant and leased spaces.
Where is this triplex located?
The property is located at 1406 E 21ST AVE 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 a 3‑bedroom, 2‑bath unit, a 2‑bedroom, 1‑bath unit, and a detached 1‑bedroom, 1‑bath ADU; Major property renovations completed in 2023; Detached ADU lease has approximately seven months remaining
