5/2 in Tampa with In-Law Suite E Orange Ave. Tampa, FL. 33613
This is an off-market Tampa cash-flow with equity. The property consists of a main house plus an in-law suite. The main house is a 5/2 and 1,478 SQFT. The in-law suite is a 2/1 and 646 SQFT. They are both currently rented with the main house getting $1,450/month and the in-law suite getting $650/month.
Obviously, since they are currently rented you wouldn’t need to do rehab immediately. Both the roofs and AC’s are about 7 years old. When it comes time to renovate it will need paint, floors, kitchen, baths and possibly some roof work.
There was a similar property with an in-law suite that sold for $135/SQFT which puts your ARV around $290k. There isn’t enough room for a straight flip but it does make for a cash-flow with solid equity.
Plumbing issues in the back unit. Seller states all vehicles and trash will be removed from property by closing. There is room for a third unit on the property, apparently used to have a third unit on it but was removed. Potential to build into student housing, about 7 miles from the school. Seller states property line extends back 20 feet beyond the fence at the back.