1402 Maluhia Drive

Description

Welcome to your very own expansive compound, spanning nearly an acre of lush land in the vibrant heart of North Tampa. This exceptional multi-unit property encompasses four buildings, boasting exclusive access via a private road situated across two parcels at 1402 and 1414 Maluhia. Nestled just moments away from the eagerly anticipated redevelopment of the University Uptown District and the bustling energy of USF, this offering presents a rare opportunity for discerning investors.Priced at $1,450,000 for the complete bundle, the property spans a generous 4,523 square feet, comprising two single-family residences and two duplexes, all nestled within the sprawling landscape of just under one acre. While the listing primarily showcases parcel 1402, it's essential to note the additional parcel, 1414, encompassing 19,125 square feet.Each parcel hosts a minimum of three units, with the current RMC-16 zoning allowing for further expansion and the construction of additional structures. Parcel 1 (1402-1404) showcases a spacious single-family home alongside an attached apartment with a separate entrance, offering versatile living arrangements spanning 1,851 square feet. Original wood flooring, vinyl tiles, and carpeting adorn the interiors, featuring either a four-bedroom, two-bathroom layout or a three-bedroom configuration complemented by a one-bedroom apartment. Central air conditioning ensures comfort throughout, while a new roof installed in December 2014 adds to the property's appeal. Parcel 1 also includes a studio-style one-bedroom, one-bathroom duplex (1408-1410) spanning 704 square feet. These units feature wall-mounted air conditioning units and durable vinyl tile flooring, with a new roof added in September 2016. Meanwhile, Parcel 2 (1414) boasts a charming single-family residence comprising two bedrooms and one bathroom across 672 square feet. This home offers ample outdoor space, including fenced front and back yards, with terrazzo tile flooring and wall-mounted air conditioning units enhancing the interior comfort. A recent roof replacement in April 2017 ensures lasting quality. Completing the ensemble, Parcel 2 also features a well-appointed two-bedroom, one-bathroom duplex (1420-1422), spanning 1,296 square feet. Each unit enjoys a private patio area, vinyl tile flooring, and individual air conditioning units, with a new roof installed in April 2017. Constructed from durable concrete block and featuring recently replaced roofs, the entire property is securely enclosed by either chain-link or wooden privacy fencing along all boundaries. Currently, all units are occupied by long-term tenants under active leases, presenting an enticing investment opportunity with immediate returns. Moreover, the property's potential extends into the future, with the capacity to construct additional units or expand existing structures, offering the possibility of accommodating up to 14 to 16 units. Whether seeking an income-generating investment or envisioning a bespoke residential enclave, this expansive compound promises endless possibilities for the discerning investor.