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… Read More 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. Read Less
Courtesy of DOWNING FRYE REALTY, INC. 239-261-2244
Listing Snapshot
Days Online
3
Last Updated
Property Type
Single Family Residence
Beds
6
Full Baths
2
Square Ft.
1,616
Lot Size
0.1 Acres
Year Built
1964
MLS Number
C7513090
30 Days Snapshot Of 33607
$467k
-10%
(avg) sold price
23
+21%
homes sold
75
-7%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Living Area Meters: 150.13, Room Count: 6, Building Area Total: 1386, Building Area Units: Square Feet, Construction Materials: "Block", Direction Faces: West, Levels: "One", Living Area: 1616, Stories Total: 1, Year Built: 1964
Lot
Lot Size Square Meters: 413, Total Acreage: 0 to less than 1/4, 0.1 acres, 4450 square feet, Dimensions: 50x89
Property Access
Road Surface: "Asphalt"
Appliances & Equipment
Appliances: "Refrigerator"
Cooling
Cooling: "Central Air"
Exterior Features
Exterior Features: "Other"
Floors
Flooring: "Other"
Foundation
Foundation Details: "Block", "Slab"
Heating
Heating: "Electric"
Interior Features
Interior Features: "Other"
Laundry
Laundry Features: "Common Area"
Property
Zoning: RS-50
Roof
Roof: "Shingle"
Sewer
Sewer: "Public Sewer"
Utilities
Utilities: "BB/HS Internet Available", "Cable Available", "Electricity Connected", Water Source: "Public"
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