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    West Tampa Redevelopment Opportunity

    1905 Armenia Ave Tampa, FL 33607

    1905 Armenia Ave, Tampa, FL, 33607
    $549,000
    For Sale
    $549,000

    Armenia

    Property Size1,848 SF
    Lot Size0.15 Acres
    Price / SF$297.08
    Days on Market109

    Property Features for 1905 Armenia Ave

    General Information

    Standard status
    Active
    Property type
    Other residential income properties, Residential income properties
    Size
    1,848 SF
    Net Rentable
    1,628 SF
    Lot size
    0.15 Acres

    Building Details

    Year Built
    1935
    Buildings
    1
    Stories
    2
    Units
    1
    Listing Office SERRALLES GROUP,INC
    Listed by Eddie · License #0225254417
    Added: Apr 3 Updated: Apr 8 at 2:26 pm

    Investment Insights

    Based on property information with market context.

    Located in West Tampa, this property features a 1,628 square foot home situated on three lots. Zoned RM-16, the site offers potential for redevelopment or multi-unit possibilities. The property benefits from public utilities and convenient access to major roads. The property is being sold as-is and includes the work needed building plus two additional lots.

    Local Financial Insights For Apartment 5plus

    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 $39.3k $21.24
    − Vacancy −$2.8k −$1.51
    EGI $36.5k $19.73
    − OpEx −$16.4k −$8.88
    NOI $20.1k $10.85
    1,848 SF · lease $21.24/SF/yr · vacancy 7.10% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $286.5K
    $250.7K – $334.3K (±1% cap)
    NOI $20,056 @ 7.0% cap · market cap 3.65%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $430.5K
    $376.7K – $502.3K (±1% cap)
    NOI $30,137 @ 7.0% cap · market cap 5.49%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Tampa Refinacne Mortgage Loan Service

    Suggested Use

    (Bike/Boat/Book/etc) Store Plumbing Service (Bike/Boat/Book/etc) Store Florist Pet Grooming Service Grocery & Convenience Store Electrical Service (Bike/Boat/Book/etc) Store Garden Center (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Residential income property - Armenia
    Where is this residential income property located?
    The property is located at 1905 Armenia Ave Tampa, FL.
    What is the asking price?
    The asking price for this property is $549,000.
    Contact an agent
    (813) 307-0007
    We can help!
    Contact an agent
    Eddie Serralles
    Real Estate License ID: 0225254417
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