8-Unit Garden-Style
5638 River Rd New Port Richey, FL 34652
For Sale
Contact for pricing
Sunshine Commons is an 8-unit garden-style multifamily property with updated interiors, split across three single-story buildings.
Property Size5,400 SF
Lot Size0.52 Acres
Price / SF$212.96
Days on Market170
Property Features for 5638 River Rd
General Information
- Standard status
- Active
- Size
- 5,400 SF
- Lot size
- 0.52 Acres
- Property subtype
- Multifamily
Listing Agency:
MRG Realty
(651) 900-4386
Listed By:
Alberto Magliozzi · License #SL3621203
Source:
Crexi
Added: Feb 3
Changed: Jul 22
Last Checked: Jul 23 at 8:32AM
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 MRG Realty
Investment Insights
Based on property information with market context.
Sunshine Commons is an 8-unit garden-style multifamily community built in 1973. The property consists of three single-story buildings offering efficient 1 bed/1 bath layouts, and it received a full interior remodel completed in 2022. On-site surface parking is available at a ratio of 1.5 spaces per unit.
The site is located in New Port Richey, Florida just off River Road, with proximity to the downtown core and coastal amenities.
The community totals approximately 5,400 square feet and sits on about 0.52 acres. The property is zoned MF-30 (High Density Residential), supporting continued multifamily use.
The site is located in New Port Richey, Florida just off River Road, with proximity to the downtown core and coastal amenities.
The community totals approximately 5,400 square feet and sits on about 0.52 acres. The property is zoned MF-30 (High Density Residential), supporting continued multifamily use.
Key Highlights
- 8‑unit garden‑style multifamily community in New Port Richey, FL across three single‑story buildings
- Built in 1973; full interior remodel completed in 2022 with updated finishes and 1 bed / 1 bath layouts
- Approx. 5,400 SF total with efficient unit sizes averaging 675 SF per unit
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 | $97.2k | $18.00 |
| − Vacancy | −$6.9k | −$1.28 |
| EGI | $90.3k | $16.72 |
| − OpEx | −$40.6k | −$7.52 |
| NOI | $49.7k | $9.20 |
5,400 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$709.5K
$620.8K – $827.7K
NOI $49,664 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,106 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Sunshine Commons is an 8-unit garden-style multifamily property with updated interiors, split across three single-story buildings.
Where is this apartment building located?
The property is located at 5638 River Rd New Port Richey, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 8‑unit garden‑style multifamily community in New Port Richey, FL across three single‑story buildings; Built in 1973; full interior remodel completed in 2022 with updated finishes and 1 bed / 1 bath layouts; Approx. 5,400 SF total with efficient unit sizes averaging 675 SF per unit
