71-Unit Apartment
For Sale
Contact for pricing
5319 Beach Street, New Port Richey, FL 34652
Clustered properties offer primarily two-bedroom layouts in established residential surroundings.
Property Size50,272 SF
Price / SF$141.23
Days on Market110
Property Features for 5319 Beach Street
General Information
Standard status
Active
Size
50,272 SF
Property subtype
Multifamily
Investment Type
Value Add
Building Details
Year Built
1987
Buildings
21
Units
71
Listing Agency:
Franklin Street Tampa
Listed By:
Darron Kattan · License #3256503
Source:
Crexi
Added: Jun 29
Changed: Oct 15
Last Checked: Oct 16 at 8:26AM
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 Franklin Street Tampa
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Investment Insights
Based on property information with market context.
This 71-unit apartment portfolio encompasses 50,272 square feet across a clustered footprint in New Port Richey. The unit mix is weighted toward two-bedroom residences. Approximately 58% of the units have vaulted ceilings, while 58% include washer/dryer connections. Back patios are present at 79% of the units, with the source information noting enclosure potential for private outdoor areas.
The properties are positioned within established residential neighborhoods and connect to U.S. Highway 19, State Road 54, and the Suncoast Parkway (SR-589). Retail corridors, schools, grocery anchors, BayCare Health System, HCA Florida Trinity Hospital, and the Moffitt Cancer Center Speros campus are identified in the surrounding area. The improvements date to 1987.
The properties are positioned within established residential neighborhoods and connect to U.S. Highway 19, State Road 54, and the Suncoast Parkway (SR-589). Retail corridors, schools, grocery anchors, BayCare Health System, HCA Florida Trinity Hospital, and the Moffitt Cancer Center Speros campus are identified in the surrounding area. The improvements date to 1987.
Key Highlights
- 71‑unit apartment portfolio totaling 50,272 square feet
- Primarily two‑bedroom unit layouts
- 58% of units feature vaulted ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$462,357
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,247,140
$9.2M
Cap Rate 7%
$6,605,100
$6.6M
Cap Rate 9%
$5,137,300
$5.1M
Market Conditions
NOI Build-Up for 50,272 SF
Gross rent
$904.9K $18.00/SF
− Vacancy
−$64.2K −$1.28/SF
EGI
$840.6K $16.72/SF
− OpEx
−$378.3K −$7.52/SF
NOI
$462.4K $9.20/SF
Area
Pasco County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,247,140
Cap Rate 7%
$6,605,100
Cap Rate 9%
$5,137,300
Alternative Uses
Best Use
Apartment 5plus
$6.61M
$5.78M – $7.71M
NOI $462,357 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.45M
$10.02M – $13.36M
NOI $801,617 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 34652, FL
26,697
Population
14,700
Households
1.8
Avg Household Size
51
Median Age
20%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
3,104
Density / Sq Mi
$52,396
Median Household Income
$36,819
Median Earnings
$1,189
Median Rent
$198,400
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?
Apartment building - Clustered properties offer primarily two-bedroom layouts in established residential surroundings.
Where is this apartment building located?
The property is located at 5319 Beach Street New Port Richey, FL.
What is the asking price?
The asking price for this property is $7,100,000.
What are key features of this property?
This property features: 71‑unit apartment portfolio totaling 50,272 square feet; Primarily two‑bedroom unit layouts; 58% of units feature vaulted ceilings
