Multifamily Portfolio with Six
New
For Sale
$420,000
917 E 122ND AVE, Tampa, FL 33612
Twelve one-bedroom apartments across six buildings provide a multi-property residential income configuration.
Property Size1,156 SF
Days on Market7
Property Features for 917 E 122ND AVE
General Information
Standard status
Active
Size
1,156 SF
Property subtype
Duplex
Units
Unit Mix
12 x 1BR/1BA
Multifamily Units
12
Additional Details
Average Monthly Rent
$1,300
Building Details
Building Size
1,156 SF
Year Built
1967
Buildings
6
Listing Agency:
FUTURE HOME REALTY INC
Listed By:
Kristen Mendez · License #3352686
(727) 314-2696
Source:
Kingofrealestate
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 20 at 12:16PM
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
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises six buildings containing 12 one-bedroom, one-bath units across an entire block in Tampa. Built in 1967, the property offers a concentrated residential asset with multiple structures and consistent unit layouts. The units are described as spacious and are currently operating as rentals, with no rental restrictions identified in the property information.
The portfolio is located at 917 E 122ND AVE in Tampa, Florida, within the 33612 ZIP code. Its six-building configuration places the full collection of units under one ownership position, while the one-bedroom floor plans provide a consistent residential format across the property. Additional portfolio references are identified as TB8546613, TB8546611, TB8546608, TB8546606, TB8546604, TB8546600, TB8546598, and TB8546598.
The portfolio is located at 917 E 122ND AVE in Tampa, Florida, within the 33612 ZIP code. Its six-building configuration places the full collection of units under one ownership position, while the one-bedroom floor plans provide a consistent residential format across the property. Additional portfolio references are identified as TB8546613, TB8546611, TB8546608, TB8546606, TB8546604, TB8546600, TB8546598, and TB8546598.
Key Highlights
- Six buildings containing 12 total units
- All units are configured as one‑bedroom, one‑bath residences
- Property spans an entire block in Tampa
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
$12,546
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
2.99%
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%
$250,920
$250.9K
Cap Rate 7%
$179,229
$179.2K
Cap Rate 9%
$139,400
$139.4K
Market Conditions
NOI Build-Up for 1,156 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
$24.6K $21.24/SF
− Vacancy
−$1.7K −$1.51/SF
EGI
$22.8K $19.73/SF
− OpEx
−$10.3K −$8.88/SF
NOI
$12.5K $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 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%
$250,920
Cap Rate 7%
$179,229
Cap Rate 9%
$139,400
Alternative Uses
Best Use
Apartment 5plus
$179.2K
$156.8K – $209.1K
NOI $12,546 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.3K
$230.4K – $307.2K
NOI $18,433 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Twelve one-bedroom apartments across six buildings provide a multi-property residential income configuration.
Where is this multifamily property located?
The property is located at 917 E 122ND 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 total units; All units are configured as one‑bedroom, one‑bath residences; Property spans an entire block in Tampa
