3203 E 38TH AVE Tampa, FL 33610
4 Beds
2 Baths
1,434 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Duplex
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,434 sqft
Price per Sqft $236
Subdivision Altamira Heights
MLS Listing ID TB8567051
Bedrooms 4
HOA Y/N No
Year Built 1951
Annual Tax Amount $3,485
Lot Size 5,662 Sqft
Acres 0.13
Property Sub-Type Duplex
Source Stellar MLS
Property Description
Discover an exceptional opportunity to own a beautifully renovated, income-producing property in a rapidly gentrifying neighborhood. Whether you're an experienced real estate investor or looking to purchase your first investment property, this unique 4-bedroom, 2-bath home offers an attractive combination of existing rental income, modern upgrades, and long-term investment potential.
ALREADY GENERATING $3,750 IN POTENTIAL MONTHLY RENTAL INCOME!
Currently configured and operating as a fully-furnished rooming house, this property offers investors an opportunity to step into an established rental operation. Each of the three larger bedrooms generates $1,000 per month, while the smallest bedroom is being marketed at $750 per month and is expected to be occupied soon. With all four rooms occupied at the advertised rates, the property has the potential to generate $3,750 per month, or $45,000 annually, in gross rental income.
The current residents have taken exceptional care of the property, keeping the renovations, upgrades, and interior finishes in mint condition.
Unlike typical cookie-cutter properties, this home offers distinctive character, vintage architectural details, and thoughtfully selected modern upgrades. The spacious floor plan features four bedrooms, including a primary bedroom with a large walk-in closet, two full bathrooms, a dedicated den, and a separate laundry room with additional storage.
The property also features a covered carport and sits on an expansive lot with a large yard surrounding the home. Outdoor amenities include a custom-built table and the beginnings of an outdoor kitchen, creating additional opportunities to enhance the property's appeal and functionality.
PROPERTY FEATURES & MAJOR UPDATES:
• Four bedrooms currently configured for individual room rentals.
• Three bedrooms producing $1,000/month each.
• Smallest bedroom marketed at $750/month, with occupancy anticipated soon.
• Potential gross rental income of $3,750/month ($45,000 annually) at advertised rates with full occupancy.
• Two full bathrooms
• Primary bedroom with large walk-in closet
• Dedicated den
• Separate laundry room with additional storage
• Covered carport
• Expansive yard surrounding the home
• Custom-built outdoor table
• Beginnings of an outdoor kitchen
• 2023 roof
• 2019 HVAC system
• 2025 water heater
• Updated plumbing
• Renovations and interior finishes maintained in mint condition
WHY INVESTORS SHOULD TAKE NOTICE:
• Existing income-producing rooming house configuration.
• Opportunity to acquire an established fully-furnished rental setup.
• Attractive gross income potential for both experienced and first-time investors.
• Potential to continue the current room rental arrangement or explore alternative rental strategies, subject to applicable regulations.
• Spacious property with character, modern improvements, and room for future enhancements.
• Located in a gentrifying neighborhood with potential for long-term appreciation.
Whether you're looking to purchase your first investment property, expand your existing rental portfolio, or acquire an income-producing asset in this declining market, this property offers an opportunity to put your investment dollars to work.
Location
State FL
County Hillsborough
Community Altamira Heights
Area 33610 - Tampa / East Lake
Zoning RS-50
Interior
Interior Features Ceiling Fans(s)
Heating Central
Cooling Central Air
Fireplace false
Laundry Electric Dryer Hookup, Washer Hookup
Exterior
Exterior Feature Private Entrance, Private Mailbox
Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Water Connected
View Y/N No
Water Access No
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Crawlspace, Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block,Frame
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Special Listing Condition None
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