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Discover a rare and lucrative investment opportunity at 3416 S 70th Street in Tampa. This property is meticulously designed to maximize your return, offering a potential for a high return on investment. This unique property features a main house with a thoughtfully converted garage for even further rental returns. Alongside a separate Accessory Dwelling Unit (ADU) housing three additional rental units with its own dedicated driveway and fence. Add to your portfolio ensuring consistent income and minimizing vacancy risks. Benefit from a property that is already generating substantial rental income, demonstrating a strong and reliable return. Take the opportunity to cover your living expenses with the rental unit in the back of the property. Enjoy owning a multi-generational compound on nearly an acre. This is an ideal addition to any investor's portfolio seeking immediate and consistent returns. Situated on a substantial lot, this property offers ample space, potential for future expansion or additional development, further enhancing its investment value. The main house has tile floors throughout. Vaulted ceilings and a wonderful stone fireplace. Newer kitchen appliances and finishes make this home move in and or rent ready. You have two sets of double French doors that lead you into a Florida room with a custom stone bar. Stay tuned for pictures of rental units this coming this week!The ADU benefits from a separate driveway and dedicated fencing, providing tenants with enhanced privacy and convenience. This feature increases tenant satisfaction and rental desirability. The guest house is approx 2000 sqft. You have two rental units on the second floor and one on the first floor. Separate laundry room for the guest house with additional storage. This is a rare chance to own over nearly 4400 sqft of living space on an acre in Tampa. Totaling 7 bedrooms and 5 bathrooms. Enjoy the convenience of being just minutes from the vibrant heart of downtown Tampa. This prime location offers easy access to a wealth of amenities, including dining, entertainment, and employment opportunities, ensuring consistent tenant demand. Schedule your showing today!
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $516,000 | $516,000 | $516,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.990% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.172% | 7.154% | 6.172% |
Monthly Tax Payment | $679 | $679 | $679 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,304 | $3,430 | $4,320 |
Total Monthly Payment | $4,075 | $4,201 | $5,091 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.