114 S Bungalow Park Ave, Tampa, Florida 33609

  • $695,000
  • $1,100,000

Description

*Being sold along with neighboring corner-lot property, 2801 W Cleveland St* Attention Developers, Investors, and Savvy Owner Occupants: Rare opportunity to acquire a multifamily-zoned parcel with existing structures in one of South Tampa’s most centrally located and fastest growing corridors, just minutes from Hyde Park, Midtown, and Downtown Tampa. The owner’s retirement presents a unique chance to secure a 6, 150 sq ft (0.14 acre) RM-16 lot with significant value-add and redevelopment potential in a proven townhome corridor. So what makes this one so special? 1) Two buildings, total of 3 units on one lot: The property features a 2/1 single-family home (1, 064 heated sq ft) and a two-story duplex with one 1/1 unit on each floor (1, 096 heated sq ft total). 2) Value-add opportunity, all units requiring renovation, offering investors the ability to increase overall asset value. Some work on the properties in recent years include: The single-family home features a newer roof (2020) and recent plumbing and electrical updates within the past 2 years, along with minor hurricane-related repairs. Has central air. The duplex has a roof less than 5 years old, electrical updated 2 years ago, and plumbing updated 1.5 years ago, with A/C provided via wall units. 3) Separately metered water, simplifying future management and rental efficiency. 4) Development upside: RM-16 zoning supports multifamily redevelopment. Based on lot size and location, strong potential for future townhome development. 5) Prime South Tampa location: Located within the highly sought-after Mitchell-Wilson-Plant school district and minutes from Hyde Park Village, Midtown, Downtown Tampa, and Howard Ave. Easy access to I-275, Tampa International Airport, and the University of Tampa. Additional opportunity: Seller is also offering the neighboring corner lot with an existing duplex. See 2801 W Cleveland St. Purchase both for a combined 12, 300 sq ft of land and 5 total units, maximizing development scale, design flexibility, and long-term upside. Whether you’re looking to renovate and reposition for long-term cash flow, or redevelop into a high-end product, opportunities like this in core South Tampa are increasingly rare. Easy to show. No HOA/CDD. Arborist Reports, MLS info sheets and property disclosures available. No assignable contracts accepted.

Details

  • Property ID TB8491887
  • Price $695,000
  • Property Size 2628 Sqft
  • Land Area 0.28 Acres
  • Bedrooms 4
  • Bathrooms 3
  • Year Built 1940
  • Property Type Quadruplex, Residential Income
  • Property Status Active

Additional details

  • Roof Shingle
  • Utilities Electricity Connected, Sewer Connected, Water Connected
  • Sewer Public Sewer
  • Cooling Wall/Window Unit(s)
  • Heating Electric
  • County Hillsborough
  • Property Type Residential Income
  • Address: 114 S BUNGALOW PARK AVENUE
  • City: Tampa
  • State/county: FL
  • Zip/Postal Code: 33609
  • Country: US

What's Nearby?

Active Life
Active Family Chiropractic (8.6 mi)
Exceptional 14 reviews
Academy of Active Education (5.09 mi)
0 reviews
Active Limo & Taxi (1.85 mi)
Exceptional 3 reviews
Active Maintenance (7.21 mi)
0 reviews
Restaurants
Kahwa Coffee (0.06 mi)
0 reviews
LaLa's Gyros (0.07 mi)
Average 28 reviews
Sushi Ninja Tampa (0.13 mi)
Good 434 reviews
Acropolis Greek Taverna (0.18 mi)
Good 377 reviews

Contact Information

View Listings

Enquire About This Property