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    Waterfront Multifamily Investment Opportunity Title is generated by Realmo AI

    708 E Hollywood St, Tampa, FL 33604

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    Eleven-unit waterfront property near Seminole Heights with redevelopment potential.

    Type:Multifamily
    Property size:
    9,221 SF
    Lot size:
    0.80 Acres
    Price / SF:
    $200/SF
    Added:
    Jul 14, 2025
    Days on Market:
    350
    Last Refresh:
    Mar 16 at 1:20 pm

    Property Features for 708 E Hollywood St

    General Information

    Standard status
    Active
    Size
    9,221 SF
    Lot size
    0.80 Acres
    Property subtype
    Multifamily

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    Eve Lowry

    Listing office Franklin Street Tampa

    Listing date Jul 14, 2025

    Source Crexi

    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

    HighLights

    • Waterfront property on the Hillsborough River
    • Redevelopment potential with future R‑20 zoning allowing up to 16 units
    • Strong rental income potential with 11 existing units (ten 1‑bed/1‑bath, one 2‑bed/1‑bath)
    • Additional income opportunities through boat dock rentals
    • Located in a rapidly developing area near Seminole Heights
    • Close proximity to major attractions, dining, and the University of South Florida

    Overview

    River Club offers the opportunity to acquire 11 waterfront rental units located along the Hillsborough River in Tampa, FL. The property is situated on a 0.8-acre lot and includes ten 1-bedroom/1-bath units and one 2-bedroom/1-bath unit. On-site amenities include laundry facilities and dedicated parking. The property has future zoning of R-20, which allows for potential redevelopment into up to 16 waterfront units. Additional income may be generated through boat dock rentals. The property is located near the heart of Seminole Heights, surrounded by new developments including apartments, condos, and single-family homes. Residents have convenient access to attractions such as Lowry Park Zoo, Rogers Park Golf Course, and Busch Gardens. The University of South Florida, with an enrollment of nearly 49,000 students, is located 4.3 miles away. Tenants can access local dining options nearby. The property size is 9,221 square feet.

    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 $195.9k $21.24
    − Vacancy −$13.9k −$1.51
    EGI $181.9k $19.73
    − OpEx −$81.9k −$8.88
    NOI $100.1k $10.85
    9,221 SF · lease $21.24/SF/yr · vacancy 7.10% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.43M
    $1.25M – $1.67M (±1% cap)
    NOI $100,072 @ 7.0% cap · market cap 5.41%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $2.15M
    $1.88M – $2.51M (±1% cap)
    NOI $150,376 @ 7.0% cap · market cap 8.13%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Tampa
    County
    Hillsborough
    State
    Florida
    Longitude
    -82.4541289
    Latitude
    28.0197674

    FAQs

    What type of property is this?
    Apartment building - Eleven-unit waterfront property near Seminole Heights with redevelopment potential.
    Where is this apartment building located?
    The property is located at 708 E Hollywood St Tampa, FL.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: Waterfront property on the Hillsborough River; Redevelopment potential with future R‑20 zoning allowing up to 16 units; Strong rental income potential with 11 existing units (ten 1‑bed/1‑bath, one 2‑bed/1‑bath)
    More about this property
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