50th St Mobile Home Park, a strategically located property with significant growth potential. Currently under rented with ample room for improvement, this property offers a unique blend of immediate income and future development prospects.

Key Features:

Land Area: 1.96 Acres
Zoning: CG (Commercial General)
Future Land Use: Commercial Office/RSC-9
Development Potential: Potential for 100+ multifamily units under SB-102 (Live, Local, Act)
Current Financials:

Existing Rents: $11,215 per month
3 Units - Lot Rent: $450/month
Financing:

Assumable Note: $860,000 at 5% interest-only, 10-year term
Down Payment: $640k

Asking Price: $1.5 Million

Investment Strategy:

This property is perfect for an investor looking to capitalize on current rental income while planning for future development. The strategy involves increasing rents to align with market rates while working on project approval for multifamily construction. With favorable zoning and future land use designations, the potential for significant returns is high.

For more details or to discuss this opportunity, please give us a call.

Don't miss out on this chance to invest in a promising property in the thriving Tampa market!