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109 Magnolia Street, Plant City, FL

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109 Magnolia Street

Plant City, FL 33563-4755 - Plant City MF Submarket

Property Type:Multi-Family Number of Units:10 Status:Existing Year Built:1968
Stories:2 Building Size:6,541 SF Land Area:.33 AC (14,488 SF)
For Sale Price:$450,000 Price/Unit:$45,000.00 Cap Rate:7.25 % GRM:-

Parking:2.26 Parking Spaces / 1,000 SF

Fully occupied, two story apartment building consisting of ten, one bedroom, one bathroom apartments. The property was built in 1968 of concrete block construction and contains 6,541 square feet. The property is situated on a .33 acre lot with approx. one parking spot per tenant. Tenants currently pay for water and electric. The property is within walking distance to South Florida Baptist Hospital and minutes from interstate 4. Capital improvements include a new roof, tile flooring and heating and air conditioners

No Brokers Please
I-4 East towards Orlando > To exit 19 FL-566E > 8. Merge onto FL-566 S/Thonotosassa Rd > Continue to follow Thonotosassa Rd > Continue onto Lemon St > Turn left onto Reynolds St > Take the 3rd right onto N Magnolia S

Sale Notes:
PRICE REDUCED!!!! NAI Tampa Bay Multi Family team presents its latest apartment listing, The Village Place Apartments located in Plant City Florida offers an excellent opportunity for a new owner. The property is located adjacent to the South Florida Baptists Hospital and Medical center. This 147 bed facility has been in the same location for 50 years and recently announced expansion plans for 2014 that will include a $5.8 million dollar expansion. The Village Apartments will obviously benefit from the expansion due to its direct access location for new employees and construction related jobs.

The property consists of 10 One Bedroom units with window unit style HVAC systems. The concrete block construction Flat roof and limited green space make this asset very easy to operate. Increased rents are available with minor unit upgrades and the property is professionally managed through a local third party vendor willing to stay in place after the sale.
Brokers Notes:
1. All brokers must register their buyer via a C-A agreement
2. No Showing without listing broker being present
3. No OWNER FINANCING Offers will be accepted

NAI Tampa Bay
John Burpee, CCIM
(727) 585-2070 x204

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