Listing Courtesy of: Nicholas Vavoulis - RE/MAX MARKETING SPECIALISTS
727-853-7801
$3,186,000
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4954 Bitner Street New Port Richey, FL 34652
Other
Residence
53
Beds
40
Baths
...
Bed/Bath
801
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
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 outside their door. There's 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. It's a small cost that adds a lifestyle element most apartment communities simply can't 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.
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MLS#
W7885459
Property Type
Other
Bedrooms
53
Bathrooms
40 Full
Year Built
1973
HOA Fee
$308
Monthly
Square Feet
801
sq. ft
Stories
1.0
Sewer
Public Sewer
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Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
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