Duplex with New
For Sale
$629,999
506 E SPARKMAN Avenue, Tampa, FL 33602
MULTI_FAMILY - TAMPA, FL
Property Size1,852 SF
Lot Size0.13 Acres
Price / SF$340.17
Days on Market99
Property Features for 506 E SPARKMAN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-24
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 4, Family Room, Bathroom 1, Bedroom 3
Interior features
Eat-in Kitchen, Kitchen/Family Room Combo, Primary Bedroom Main Floor
Exterior features
Fence
Fencing
Fenced
Subdivision
CAMPBELLS
Directions
Take N Florida Ave To Columbus Dr. Go East On E Columbus Dr. To N Grove Ave. Turn Right On Grove And Then Right On The First Street Which Is E Sparkman Ave. Home Will Be On Your Right!
Standard status
Active
APN
A-13-29-18-4XD-000002-00008.1
Size
1,852 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAMPBELL'S LOT 8 BLOCK 2 AND S 1/2 OF VACATED ALLEY LYING NORTH
Tax Annual Amount
8226
Legal Description
CAMPBELL'S LOT 8 BLOCK 2 AND S 1/2 OF VACATED ALLEY LYING NORTH
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public, Well
Building Details
Year built
1964
Number of units
2
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Listing Agency:
PINEYWOODS REALTY LLC
(813) 225-1890
Listed By:
Nick McCormick · License #3388344
(813) 597-7662
Added: Apr 28
Changed: Aug 2
Last Checked: Aug 4 at 7:06AM
MLS# TB8502629
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 fully updated duplex is configured as a two-unit property, with each unit offering two bedrooms and one bath. The home was built in 1964 and constructed with block. Interior features include an eat-in kitchen and a kitchen/family room combination, and the primary bedroom is on the main floor. Heating is electric with central heating, and cooling is provided by central air. Flooring is vinyl.
Recent major system upgrades include a brand new 2024 roof, 2022 HVAC, and a 2021 water heater. The property sits on an oversized lot totaling 0.13 acres and is fenced, with cable available. Water service includes well and public, and sewer is public.
Located at 506 E Sparkman Avenue in Tampa (33602) in RM-24 zoning, the property is in Tampa Heights and is about 1 mile from Armature Works and 2 miles from Water Street, with Downtown Tampa nearby.
Recent major system upgrades include a brand new 2024 roof, 2022 HVAC, and a 2021 water heater. The property sits on an oversized lot totaling 0.13 acres and is fenced, with cable available. Water service includes well and public, and sewer is public.
Located at 506 E Sparkman Avenue in Tampa (33602) in RM-24 zoning, the property is in Tampa Heights and is about 1 mile from Armature Works and 2 miles from Water Street, with Downtown Tampa nearby.
Key Highlights
- Two‑unit duplex with two 2‑bedroom, 1‑bath units
- Brand new 2024 roof plus 2022 HVAC and 2021 water heater
- 0.13‑acre lot with fenced exterior
Financial Insights For Multifamily LT 5
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 | $33.1k | $17.88 |
| − Vacancy | −$2.2k | −$1.21 |
| EGI | $30.9k | $16.67 |
| − OpEx | −$9.3k | −$5.00 |
| NOI | $21.6k | $11.67 |
1,852 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$308.8K
$270.2K – $360.3K
NOI $21,617 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$287.1K
$251.2K – $335.0K
NOI $20,099 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$431.5K
$377.5K – $503.4K
NOI $30,202 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,408
Businesses Nearby
Explore this area
Business Placement
Demographics for 33602, FL
19,936
Population
11,972
Households
1.7
Avg Household Size
36
Median Age
61%
College-Educated
92%
High-School Grad
2.6 sq mi
ZIP Area
7,668
Density / Sq Mi
$88,569
Median Household Income
$66,434
Median Earnings
$2,119
Median Rent
$560,400
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?
Duplex - Fully updated duplex with two 2-bedroom, 1-bath units and a 2024 roof in RM-24 zoned Tampa Heights.
Where is this duplex located?
The property is located at 506 E SPARKMAN Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $629,999.
What are key features of this property?
This property features: Two‑unit duplex with two 2‑bedroom, 1‑bath units; Brand new 2024 roof plus 2022 HVAC and 2021 water heater; 0.13‑acre lot with fenced exterior
