12-Unit Apartment Building
906 E 123rd Ave, Tampa, FL 33612
For Sale
$420,000
Multifamily portfolio comprising six buildings with one-bedroom, one-bath residences and no stated rental restrictions.
Property Size2,312 SF
Price / SF$181.66
Days on Market53
Property Features for 906 E 123rd Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Average Monthly Rent
Building Details
Buildings
Listing Agency:
FUTURE HOME REALTY INC
(813) 855-4982
Listed By:
Kristen Mendez · License #3352686
(727) 314-2696
Source:
Exprealty
Added: Sep 15
Changed: Oct 26
Last Checked: Nov 6 at 9:37AM
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 FUTURE HOME REALTY INC
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Investment Insights
Based on property information with market context.
This multifamily offering includes six separate buildings containing 12 one-bedroom, one-bath apartment units. The residences are described as having spacious layouts, and the portfolio encompasses an entire block in Tampa. No rental restrictions are stated for the properties, providing flexibility in evaluating rental strategies.
The portfolio is located at 906 E 123rd Ave in Tampa, with the University of South Florida identified as a nearby institution. The assemblage combines multiple buildings and residential units under one ownership structure.
The portfolio is located at 906 E 123rd Ave in Tampa, with the University of South Florida identified as a nearby institution. The assemblage combines multiple buildings and residential units under one ownership structure.
Key Highlights
- Six buildings containing 12 apartment units
- All residences are configured as one‑bedroom, one‑bath units
- Portfolio encompasses an entire block
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,091
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,820
$501.8K
Cap Rate 7%
$358,443
$358.4K
Cap Rate 9%
$278,789
$278.8K
Market Conditions
NOI Build-Up for 2,312 SF
Gross rent
$49.1K $21.24/SF
− Vacancy
−$3.5K −$1.51/SF
EGI
$45.6K $19.73/SF
− OpEx
−$20.5K −$8.88/SF
NOI
$25.1K $10.85/SF
Area
ZIP 33612
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%
$501,820
Cap Rate 7%
$358,443
Cap Rate 9%
$278,789
Alternative Uses
Best Use
Apartment 5plus
$358.4K
$313.6K – $418.2K
NOI $25,091 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$526.7K
$460.8K – $614.4K
NOI $36,866 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,468
Businesses Nearby
Explore this area
Business Placement
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Tampa, FL
Properties on Market for Apartment buildings in Tampa
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily portfolio comprising six buildings with one-bedroom, one-bath residences and no stated rental restrictions.
Where is this apartment building located?
The property is located at 906 E 123rd Ave Tampa, FL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Six buildings containing 12 apartment units; All residences are configured as one‑bedroom, one‑bath units; Portfolio encompasses an entire block
