Features & Amenities

Interior

  • Other Interior Features

    Eat-in Kitchen

  • Total Bedrooms

    8

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    Central Air

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Central, Ductless

  • Pet friendly

    Yes

Exterior

  • Garage

    Yes

  • Garage spaces

    1

  • Construction Materials

    Block, Cement Siding

  • Parking

    Oversized, Parking Pad

  • Pool

    No

  • Waterfront YN

    NO

  • View

    City

Area & Lot

  • Lot Features

    Corner Lot, Paved

  • Lot Size(acres)

    0.25

  • Property Type

    Residential Income

  • Property Sub Type

    Multi Family

Price

  • Sales Price

    $1,499,000

  • Tax Amount

    6712.0

  • Sq. Footage

    5, 288

  • Price/SqFt

    $283

HOA

  • Association

    YES

  • Association Fee Frequency

    N/A

  • Association Fee Includes

    N/A

School District

  • Elementary School

    Graham-HB

  • Middle School

    Madison-HB

  • High School

    Hillsborough-HB

Property Features

  • Foundation Details

    Slab

  • Ownership

    Fee Simple

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

  • Tax Lot

    9

  • Water Source

    Public

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Location

County

Hillsborough

Elementary School

Graham-HB

Middle School

Madison-HB

High School

Hillsborough-HB

Listing Courtesy of Stacy Dillard , LPT REALTY, LLC

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Great opportunity to purchase part of Tampa Height's History. There are a total of 8 rental units in 4 buildings: 1 Single family-4 bedroom/2 bath, 2nd Single Family-2 bedroom/2 bath, 1 Apartment Building with 4 studio units plus TWO- 1 bedroom/1 bath units. Built in 1935, 1940, and 1946, these buildings reflect a rich history from a time when Tampa Heights blossomed into a vibrant community characterized by residential and commercial growth. Each unit and both homes are separately metered and tenants pay all utilities except water/sewer and small gas bill. This lot is 10,922 sq ft and is zoned RM-24. If redeveloped, it is approved for 6 new units. 
This property has been treasured by the same family since 1960, serving as a beacon of hope and renewal for many. The owner has offered below-market rental rates, as a service in the community for the past 15 years. With some renovations, these stately residences have the potential to significantly increase the rental income.The property has great access on a corner and with an alley running along the north side. Conveniently located just a few blocks from Highland Park, the YMCA, Armature Works, and the scenic Tampa Riverfront Waterworks park, this property is also near Perry Harvey Sr. Park’s skatepark, a variety of shopping options, entertainment hubs, fine dining, as well as cultural and artistic venues. With easy access to Downtown Tampa, Ybor City, and Tampa International Airport, the location is ideal for both residents and investors. 
The property's size and location present a unique development opportunity in one of Tampa Bay's fastest-growing neighborhoods. As the area's progress continues, opportunities like this are becoming increasingly rare.
Please respect the privacy of the current tenants—do not trespass or engage with them. Showings are available by appointment only with 48-72 hours' notice.

2402 N HIGHLAND AVENUE

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Financial Summary
• Purchase Price: $1,500,000
• Net Operating Income (NOI): $132,671.65
• Annual Debt Service: $45,508.90
• Cash Flow (Before-Tax): $87,162.75
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Cap Rate 8.85 
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Debt Coverage Ratio (DCR)=2.92
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At a $1.5M price point, this is a robust investment:
• 8.85  Cap Rate — solid and above average
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