This well-maintained multiplex property offers a prime investment opportunity, featuring five fully-leased units that generate consistent income and significant potential for long-term financial growth. Each unit is freshly renovated with new a/c units, water heaters, fully remodeled kitchens, and remodeled bathrooms, appealing to tenants, ensuring a steady cash flow and low vacancy risk. The property is situated in a highly desirable neighborhood of New Port Richey, where demand for rental units remains strong, ensuring high occupancy rates and attractive rental yields. The location is ideal, with easy access to major transportation routes, shopping centers, and other local amenities, making it an even more appealing option for tenants. The property is in turnkey condition, with regular maintenance and updates that minimize the need for immediate capital expenditures. With a block structure, a separate laundry building, and a newer roof (2020). With a proven track record of delivering strong returns and situated in an area that shows continued growth, this multiplex offers an exceptional chance for investors seeking a stable, income-producing asset with excellent long-term appreciation potential. The current owners are enjoying over a 7% Cap rate! Don't delay. Call today to set up a viewing of this fantastic investment property.
For sale
Price cut: $26K (8/9)
$599,000
5100 South Rd, New Pt Richey, FL 34652
3beds
5baths
2,753sqft
Est.:
Multi Family
Built in 1956
-- sqft lot
$-- Zestimate®
$218/sqft
$-- HOA
What's special
Block structureRemodeled bathroomsSeparate laundry buildingRemodeled kitchensNewer roofWater heaters
- 128 days
- on Zillow |
- 198 |
- 7 |
Zillow last checked: 7 hours ago
Listing updated: August 09, 2025 at 06:55am
Listing Provided by:
Susan McGowan 813-484-8655,
FUTURE HOME REALTY INC 813-855-4982
Source: Stellar MLS,MLS#: TB8370544
Originating MLS: Suncoast Tampa

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 5
Heating
- Central, Electric, Wall Units / Window Unit
Cooling
- Central Air, Wall/Window Unit(s)
Appliances
- Included: Electric Water Heater, Range, Refrigerator, Tankless Water Heater
- Laundry: Common Area, Laundry Room
Features
- Built-in Features, Ceiling Fan(s), Open Floorplan, Thermostat
- Flooring: Ceramic Tile
- Has fireplace: No
Interior area
- Total interior livable area: 2,753 sqft
Video & virtual tour
Property
Parking
- Parking features: Assigned, Curb Parking, Guest
Features
- Levels: One
- Stories: 1
- Exterior features: Lighting, Private Mailbox
Lot
- Size: 0.34 Acres
Details
- Additional structures: Other, Outbuilding
- Parcel number: 162608001.0022.00001.0
- Zoning: R1MH
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Block, Concrete, Stucco
- Foundation: Slab
- Roof: Other
Condition
- Completed
- New construction: No
- Year built: 1956
Utilities & green energy
- Sewer: Septic Tank
- Water: Public
- Utilities for property: Cable Connected, Electricity Connected, Fire Hydrant, Street Lights, Water Connected
Community & HOA
Community
- Subdivision: TAMPA TARPON SPGS LAND CO
HOA
- Has HOA: No
- Pet fee: $0 monthly
Location
- Region: New Pt Richey
Financial & listing details
- Price per square foot: $218/sqft
- Annual tax amount: $5,455
- Date on market: 4/4/2025
- Ownership: Fee Simple
- Lease term: 12 Months
- Total actual rent: 60180
- Tenant pays: Electricity
- Electric utility on property: Yes
- Road surface type: Paved
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