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4954 Bitner Street

New Port Richey, FL

Listing Details

  • $3,186,000
  • MLS# W7885459
  • Type Residential - Condominium
  • Status Active
  • 53
    Bedrooms
  • 40 full
    Bathrooms
  • 801
    Square Feet
  • 1973
    Year Built

Description

New Port Colony | 36-Unit Multifamily Investment | New Port Richey, FL | 10% Cap Rate. Turnkey multifamily investment. This 36-unit, 55+ community in New Port Richey, Florida is generating a 10% cap rate. The unit mix is well-balanced, with 19 one-bedroom/one-bath, 13 two-bedroom/one-bath, and 4 two-bedroom/two-bath homes, all within a single complex. Every unit has been updated and comes equipped with central heating and air. And here's what really sets this property apart: all 36 units have their own private garage - washer/dryer hookups in the garage of each unit. Residents get their own parking and their own laundry, all tucked right... Read more outside their door. Theres a pool, shuffleboard, and a neighborhood feel that residents take pride in. Residents have the option to join the Gulf Harbors Beach Club - one of the only private Gulf-front beach clubs in the area - for just $200 a year. Its a small cost that adds a lifestyle element most apartment communities simply cant offer. Day-to-day living is easy. Groceries, restaurants, shopping, and medical facilities are all close by, which matters a great deal to the 55+ residents who call this place home. The 55+ demographic is one of the most stable tenant bases in residential real estate - low turnover, consistent payment history, and genuine pride of residency. New Port Colony reflects all of that. Strong returns, updated units, a private garage, and a beach club down the road.

Key Features

  • Other
  • Ceiling Fans(s)
  • Buyer Approval Required
  • Pool
View All Features
4954 Bitner Street
New Port Richey, FL 34652
Subdivision
NEW PORT COLONY
County
Pasco

Contact the Agent

Luxury Homes Specialist
Contact the Listing Agent
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All Property Features

  • Property Type: Residential - Condominium
  • Appliances: Dryer, Refrigerator, Washer
  • Association Amenities: Maintenance
  • Community Features: Buyer Approval Required, Pool
  • Cooling: Central Air
  • Days on Site: 48
  • Directions: US 19 west Marine. Right on Parkway
  • Exterior: Block, Stucco
  • Exterior Features: Other
  • Flood Zone Code: AE
  • Flooring: Carpet, Ceramic Tile, Tile
  • Foundation: Slab
  • Garage: 1 car attached
  • Heating: Central
  • HOA Fee: 308/ Monthly
  • HOA Y/N: Yes
  • Home Warranty Y/N: No
  • Interior Features: Ceiling Fans(s)
  • Listing Terms: Cash
  • Number of Pets: 2
  • Ownership: Fee Simple
  • Pets Allowed: Dogs OK, Yes
  • Pool: Indoor
  • Property Attached Y/N: No
  • Property Sub-Type: Villa
  • Roof Type: Shingle
  • Senior Community: Yes
  • Sewer: Public Sewer
  • Showing Instructions: See Remarks
  • Special Sale Provisions: None
  • Stories: 1.0
  • Swimming Pool: Yes
  • Taxes: $1,080
  • Utilities: Cable Available, Cable Connected
  • Water: Public
  • Water Access Y/N: No
  • Year Built: 1973
  • Zoning: MF1