5-Unit Apartment
For Sale
$550,000
8923 N LYNN AVE, Tampa, FL 33604
Renovated buildings include shared laundry, front and rear yard areas, and on-site parking.
Property Size2,500 SF
Price / SF$220
Days on Market39
Property Features for 8923 N LYNN AVE
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Quadruplex
Occupancy
100%
Site & Location
Neighborhood
Lowry Park Central Civic Association, Inc.
Highway Access
Yes
Additional Details
Gross Income
$120,000
Multifamily Units
5
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,939
Amenities
shared laundry facilities
Building Details
Building Size
2,500 SF
Year Built
1949
Tenancy
Multi
Listing Agency:
PALACIOS INTERNATIONAL REALTY LLC
Listed By:
Victoria Palacios · License #3024908
(813) 382-6886
Source:
Cbaquaterrarealty
Added: Sep 28
Changed: Nov 2
Last Checked: Nov 4 at 6:20AM
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 PALACIOS INTERNATIONAL REALTY LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This five-unit apartment property in Tampa was built in 1949 and has been renovated. The units are occupied, and residents share laundry facilities. Front and rear yard areas and on-site parking are also part of the property.
The location is described as minutes from major highways, downtown Tampa, shopping, dining, entertainment, schools, medical facilities, and Tampa International Airport.
The location is described as minutes from major highways, downtown Tampa, shopping, dining, entertainment, schools, medical facilities, and Tampa International Airport.
Key Highlights
- Five occupied apartment units
- Renovated buildings; constructed in 1949
- Shared laundry facilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,131
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,620
$542.6K
Cap Rate 7%
$387,586
$387.6K
Cap Rate 9%
$301,456
$301.5K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$53.1K $21.24/SF
− Vacancy
−$3.8K −$1.51/SF
EGI
$49.3K $19.73/SF
− OpEx
−$22.2K −$8.88/SF
NOI
$27.1K $10.85/SF
Area
Tampa, FL
Vacancy
7.10%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,620
Cap Rate 7%
$387,586
Cap Rate 9%
$301,456
Alternative Uses
Best Use
Apartment 5plus
$387.6K
$339.1K – $452.2K
NOI $27,131 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$582.4K
$509.6K – $679.5K
NOI $40,770 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,469
Businesses Nearby
Explore this area
Business Placement
Demographics for 33604, FL
39,071
Population
17,053
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
88%
High-School Grad
7.5 sq mi
ZIP Area
5,209
Density / Sq Mi
$55,988
Median Household Income
$39,537
Median Earnings
$1,326
Median Rent
$264,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated buildings include shared laundry, front and rear yard areas, and on-site parking.
Where is this apartment building located?
The property is located at 8923 N LYNN AVE Tampa, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Five occupied apartment units; Renovated buildings; constructed in 1949; Shared laundry facilities
