5-Unit Apartment
New
For Sale
$550,000
8923 N LYNN, Tampa, FL 33604
Fully occupied property with shared laundry, on-site parking, and front and rear yard areas.
Property Size2,500 SF
Days on Market3
Property Features for 8923 N LYNN
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Gross Income
$120,000
Highway Access
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$4,939
Amenities
shared laundry facilities
Building Details
Building Size
2,500 SF
Year Built
1949
Listed By:
Victoria Palacios · License #3024908
(813) 382-6886
Source:
Elliman
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 7 at 12:49PM
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 Victoria Palacios
Investment Insights
Based on property information with market context.
This Tampa apartment property contains five occupied units and has undergone renovation. Shared laundry, on-site parking, and yard space at both the front and rear are part of the property’s layout. The buildings date to 1949.
Major highways, downtown Tampa, shopping, dining, entertainment, schools, medical facilities, and Tampa International Airport are all described as minutes away. The location also has a walk score of 53, a bike score of 47, and a transit score of 34.
Major highways, downtown Tampa, shopping, dining, entertainment, schools, medical facilities, and Tampa International Airport are all described as minutes away. The location also has a walk score of 53, a bike score of 47, and a transit score of 34.
Key Highlights
- Five occupied apartment units
- Renovated buildings dating to 1949
- Shared laundry and on‑site parking
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.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
967
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied property with shared laundry, on-site parking, and front and rear yard areas.
Where is this apartment building located?
The property is located at 8923 N LYNN 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 dating to 1949; Shared laundry and on‑site parking
