Overview

Description

32 unit 4 story concrete block condominium building with access & view of Hillsborough River. Unit mix is 8-3BR/2BA: 16-2BR/2BA: & 8-2BR/1BA. Building has concrete floor slabs with flat concrete roof. Elevator. Building has been rehab with the following: kitchen cabinets, bathrooms completely redone, fire sprinkler system. All units have screen patios, washer/dryer hookups. The building is vacant. Complex is gated. Pool, tennis courts, racquetball, fitness center, club house, boat ramps/boat docks are in community. Please note the following: 1). Building built in 1989 and remodeled in 2010. 2). Same owners for 20 years. 3). Affluent overseas owners. 4). Units are vacant per owner preference. 5). New buyers have to form their own condo association with the state. 6). Homeowner Association passed a restriction for the whole community that individual units cannot be rented for 1 year after closing. However, individual units can be sold. Sold as is. Price is firm. Directions: Hillsborough Ave to south on Armenia Ave to east on Tampa Bay Blvd to Marina Club on right.

Frank Leto - Broker
Great American Realty
813-961-9661
LetoGAR@TampaBay.rr.com

Highlights

• Building is vacant for 20 years. No existing profit & loss
• Access to Hillsborough River with 30 boat slips. Can be leased from HOA
• Cannot lease all units for 1 year after closing
• Units can be sold to individual buyers
• There is additional 192 units in the Marina Club
• Current HOA Maintenance fee is approx $90,000 per year total for all 32 units. 2023 real estate taxes is $81,244 approx for all 32 units together

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