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2424 W Tampa Bay Boulevard - MARINA CLUB CONDOMINIUMS, Tampa, FL

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2424 W Tampa Bay Boulevard - MARINA CLUB CONDOMINIUMS

Tampa, FL 33607-1337 - Riverside MF Submarket


Property Type:Multi-Family Number of Units:50 Status:Existing Year Built:1989
Stories:4 Building Size:40,160 SF Land Area:.42 AC (18,295 SF)
For Sale Price:$3,900,000 Price/Unit:$78,000.00 Cap Rate:- GRM:-

Parking:6.23 Parking Spaces / 1,000 SF


32 unit 4 story concrete block condominium building with access & view of Hillsborough River which flows into the Gulf of Mexico. Building has concrete floor slabs with flat roof. elevator. Building has been renovated with the following: kitchen cabinets, bathrooms completely redone, fire sprinkler system, new central heat/air. All units have screen patio's, washer/dryer hook-ups, this building is vacant but can be rented with no restriction by association. Complex is gated. Pool. Tennis Courts, racquetball, fitness center and club house.

ProForma Income & Expense

Gross Scheduled Income: $499,200
less 5%: $25,000
Estimated Gross Income: $474,200
Operating Expenses: $158,106.00
Net Operating Income: $316,094.00

Sale Notes:
32 UNIT 4 STORY CONC BLOCK CONDOMINIUM BUILDING WITH ACCESS & VIEW OF HILLSBOROUGH RIVER. UNIT MIX 8 - 3BR/2BATH; 16 - 2BR/2BATH AND 8 - 2BR/1BATH. BUILDING HAS CONC FLOOR SLABS WITH FLAT CONCRETE ROOF. ELEVATOR. BUILDING HAS BEEN REHAB WITH THE FOLLOWING: KITCHEN CABINETS, BATHROOMS COMPLETELY REDONE, FIRE SPRINKLER SYSTEM, NEW CENTRAL HEAT/AIR. ALL UNITS HAVE SCREEN PATIO'S, WASHER/DRYER HOOK-UPS. THIS BUILDING IS VACANT. COMPLEX IS GATED. POOL. TENNIS COURTS. RACQUETBALL. FITNESS CENTER. CLUB HOUSE. BOAT RAMPS/BOAT DOCKS IN COMMUNITY. PLEASE NOTE THE FOLLOWING: 1) BLDG WAS BUILT IN 1989 AND REMODELED IN 2010; 2) SAME OWNERS FOR 20 YEARS; 3) AFFLUENT OVERSEAS OWNERS; 4) UNITS ARE VACANT PER OWNER PREFERENCE; 5) NEW BUYERS HAVE TO FORM THEIR OWN CONDO ASSOC. WITH THE STATE; NOTE: HOMEOWNER ASSOCIATION PASSED A RESTRICTION FOR THE WHOLE COMMUNITY THAT INDIVIDUAL UNITS CANNOT BE RENTED FOR 1 YEAR AFTER CLOSING, HOWEVER, INDIVIDUAL UNITS CAN BE SOLD. SOLD AS IS. PRICE IS FIRM.

HILLSBOROUGH AVE TO SOUTH ON ARMENIA AVE TO EAST ON TAMPA BAY BLVD TO MARINA CLUB ON RIGHT.

Great American Realty of Tampa, Inc.
Frank Leto
(813) 961-9661 x203




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