3311 W Douglas St, Tampa, FL

House

For Sale

$--,---,---

620

Key Facts
Description
Rooms
Map

Key Facts

Type Single Family Residence

Levels Residential

Size 1616 sqft

Garage No

Taxes $4,596

Days Active 0

Lot Size

Approx. Age 1964

Avg. Price Per Sqft $355

MLS® Number C7513090

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

A rare opportunity to acquire a turnkey cash-flowing 6 Room Padsplit in one of Tampa’s most in-demand West Tampa rental corridors- walk to Raymond James Stadium. 3311 W Douglas St is fully leased, stabilized, and operated by PadSplit, a nationally recognized co-living platform focused on affordable housing. PadSplit handles all resident screening, compliance, and day-to-day management, delivering a single monthly rent deposit directly to the owner’s account monthly. The property is currently leased exclusively to PadSplit, who subleases individual rooms to professionally vetted members. This fully occupied asset includes (6) 1-bedroom units, two of which feature upgrades (one with a private entrance and one with a private bath), with a blended average of $885/month in rent (after vacancy and booking fees). That translates to $5, 310/month in gross rent or $56, 875/year under pro forma conditions. T-12 performance shows $53, 279 in gross income with $16, 772 in operating expenses, yielding an NOI of $36, 507 and a 6.35 cap rate. The pro forma assumes improved net returns due to a decrease in new management booking costs and platform fees, resulting in an NOI of $40, 103 and a 6.97 cap rate, all with expenses held constant. It’s a lean, predictable operation ideal for passive investors seeking immediate returns & tax benefits with minimal overhead. Management is already in place and can remain for a seamless transition, making this a true turnkey asset. With PadSplit acting as your master tenant and manager, you benefit from operational simplicity, low vacancy, and passive income flow from day one. Please conduct all due diligence prior to submitting an contract. $10, 000 Earnest Money Deposit (EMD) required with accepted contract. Contact us for preferred lender referrals. Reach out now for the full financial package or to schedule a private showing. This offering combines stable return with long-term upside and it's priced to move.Show Description

MLS® NumberC7513090

Laundry LevelCommon Area

Central VacNo

FireplaceNo

Acreage0.1

ExteriorOther

GarageNo

Approx. Age1964

Basement

Driveway

Garage Spaces

HeatElectric

A/CCentral Air

Heating Fuel

Extras

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