Two-Building Quadplex
For Sale
$1,249,900
Pending
2210 IRENE STREET, Lutz, FL 33549
Furnished extended-stay rentals feature recent renovations and separate electric metering across the portfolio.
Property Size4,940 SF
Days on Market498
Property Features for 2210 IRENE STREET
General Information
Standard status
Pending
Size
4,940 SF
Property subtype
Multi Family
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$3,824
Building Details
Year Built
1971
Buildings
2
Listing Agency:
US REALTY HUB LLC
(407) 900-1001
Listed By:
Jason Lombardi · License #3346344
(813) 501-3005
Source:
Exitrealty
Added: Jun 6, 2025
Changed: Oct 11
Last Checked: Oct 12 at 5:28PM
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 US REALTY HUB LLC
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Investment Insights
Based on property information with market context.
This offering combines two side-by-side quadplexes at 2208 and 2210 Irene Street, totaling 4,940 square feet and eight 1BR/1BA units. Seven apartments have been recently renovated and furnished for extended-stay rentals, while one unit is occupied by a long-term tenant. Each apartment has its own electric meter, and the sale includes furnishings, linens, and additional supplies for seven units.
The properties were built in 1971, with a roof replacement completed in 2018. Site improvements include a recently pumped septic system and a new lift station pump; the washer and dryer are approximately a years old. Current furnished rentals operate with a 30-day minimum stay, and existing bookings must be honored after closing. The properties are offered as-is, with no post-contract repairs or updates planned.
The properties were built in 1971, with a roof replacement completed in 2018. Site improvements include a recently pumped septic system and a new lift station pump; the washer and dryer are approximately a years old. Current furnished rentals operate with a 30-day minimum stay, and existing bookings must be honored after closing. The properties are offered as-is, with no post-contract repairs or updates planned.
Key Highlights
- Two quadplexes on side‑by‑side lots at 2208 and 2210 Irene Street
- Eight 1BR/1BA units totaling 4,940 square feet
- Seven units recently renovated and furnished for extended‑stay rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,662
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,153,240
$1.2M
Cap Rate 7%
$823,743
$823.7K
Cap Rate 9%
$640,689
$640.7K
Market Conditions
NOI Build-Up for 4,940 SF
Gross rent
$88.3K $17.88/SF
− Vacancy
−$6.0K −$1.21/SF
EGI
$82.4K $16.67/SF
− OpEx
−$24.7K −$5.00/SF
NOI
$57.7K $11.67/SF
Area
Hillsborough County, 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%
$1,153,240
Cap Rate 7%
$823,743
Cap Rate 9%
$640,689
Alternative Uses
Best Use
Multifamily LT 5
$823.7K
$720.8K – $961.0K
NOI $57,662 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$649.1K
$567.9K – $757.2K
NOI $45,434 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,146 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
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Business Placement
Demographics for 33549, FL
17,816
Population
7,586
Households
2.3
Avg Household Size
44
Median Age
40%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
1,460
Density / Sq Mi
$85,066
Median Household Income
$53,991
Median Earnings
$1,582
Median Rent
$339,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Furnished extended-stay rentals feature recent renovations and separate electric metering across the portfolio.
Where is this quadplex located?
The property is located at 2210 IRENE STREET Lutz, FL.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: Two quadplexes on side‑by‑side lots at 2208 and 2210 Irene Street; Eight 1BR/1BA units totaling 4,940 square feet; Seven units recently renovated and furnished for extended‑stay rentals
