Block-Construction Duplex
For Sale
$599,000
8723 & 8724 N 48TH Street, Tampa, FL 33617
MULTI_FAMILY - TAMPA, FL
Property Size1,656 SF
Lot Size0.13 Acres
Price / SF$361.71
Days on Market48
Property Features for 8723 & 8724 N 48TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-16
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 8, Bathroom 1, Bedroom 6, Bedroom 3, Bathroom 2, Bedroom 5, Bathroom 4, Bedroom 7, Bathroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 3
Parking features
Assigned
Interior features
Ninguno
Exterior features
Fence
Fencing
Fenced
Appliances
Electric Water Heater, Range, Refrigerator
Subdivision
DRUID HILLS REV
Elementary school
Riverhills Elem
Middle school
Greco-HB
High school
King-HB
Directions
Traveling on East Busch Blvd, turn South on N 48th Street, the properties will be on your Right and Left.
Standard status
Active
APN
A-21-28-19-43N-000010-00014.0
Size
1,656 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DRUID HILLS RE-REVISED LOT 14 BLOCK 10 *AND* DRUID HILLS RE-REVISED LOT 27 BLOCK 9
Tax Annual Amount
6642
Legal Description
DRUID HILLS RE-REVISED LOT 14 BLOCK 10 *AND* DRUID HILLS RE-REVISED LOT 27 BLOCK 9
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
dedicated laundry room
fully fenced private yard
Building Details
Year built
1973
Floors in Building
1
Number of units
4
Building materials
Block
Roof type
Shingle
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Vivian Resnick · License #3285942
(813) 410-2890
Added: Jun 24
Changed: Aug 3
Last Checked: Aug 10 at 1:06PM
MLS# TB8523844
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 duplex portfolio consists of two block-construction duplexes comprising four total units across two separate parcels. Each duplex has its own tax parcel ID. The units feature a two-bedroom, one-bath layout with a dedicated laundry room and a fully fenced private yard, along with two assigned parking spaces per unit.
The properties are served by public water and public sewer. Units have central heating and central air, and include an electric water heater plus ranges and refrigerators. Tenants pay their own utilities, including water and trash, and each duplex is separately metered for water. Cable is available, and the roof is shingle.
Built in 1973, the duplexes are described as well maintained, with most units currently leased. The properties are not located in a flood zone. Showings are by appointment only; please do not disturb tenants.
The properties are served by public water and public sewer. Units have central heating and central air, and include an electric water heater plus ranges and refrigerators. Tenants pay their own utilities, including water and trash, and each duplex is separately metered for water. Cable is available, and the roof is shingle.
Built in 1973, the duplexes are described as well maintained, with most units currently leased. The properties are not located in a flood zone. Showings are by appointment only; please do not disturb tenants.
Key Highlights
- Two block‑construction duplexes on two separate parcels with four total units
- Zoned RM‑16; built in 1973 with central heating and central air
- Each unit has a two‑bedroom, one‑bath layout with dedicated laundry and fenced private yard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,330
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$386,600
$386.6K
Cap Rate 7%
$276,143
$276.1K
Cap Rate 9%
$214,778
$214.8K
Market Conditions
NOI Build-Up for 1,656 SF
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.
Gross rent
$29.6K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.6K $16.67/SF
− OpEx
−$8.3K −$5.00/SF
NOI
$19.3K $11.67/SF
Area
Tampa, 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$386,600
Cap Rate 7%
$276,143
Cap Rate 9%
$214,778
Alternative Uses
Best Use
Multifamily LT 5
$276.1K
$241.6K – $322.2K
NOI $19,330 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$256.7K
$224.7K – $299.5K
NOI $17,972 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$385.8K
$337.6K – $450.1K
NOI $27,006 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
877
Businesses Nearby
Explore this area
Business Placement
Demographics for 33617, FL
48,267
Population
21,912
Households
2.2
Avg Household Size
33
Median Age
29%
College-Educated
89%
High-School Grad
8.8 sq mi
ZIP Area
5,485
Density / Sq Mi
$48,651
Median Household Income
$33,710
Median Earnings
$1,337
Median Rent
$267,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Zoned RM-16 duplex portfolio built in 1973 with fenced yards, central HVAC, and separately metered water utilities paid by tenants.
Where is this duplex located?
The property is located at 8723 & 8724 N 48TH Street Tampa, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two block‑construction duplexes on two separate parcels with four total units; Zoned RM‑16; built in 1973 with central heating and central air; Each unit has a two‑bedroom, one‑bath layout with dedicated laundry and fenced private yard
