New Port Colony | 36-Unit Multifamily Investment | New Port Richey, FL | Turnkey multifamily investment. This 36-unit, 55+ community in New Port Richey, Florida is generating a 10% cap rate. The unit mix is well-balanced, with 19 one-bedroom/one-bath, 13 two-bedroom/one-bath, and 4 two-bedroom/two-bath homes, all within a single complex. Every unit has been updated and comes equipped with central heating and air. And here's what really sets this property apart: all 36 units have their own private garage - washer/dryer hookups in the garage of each unit. Residents get their own parking and their own laundry, all tucked right outside their door. Community amenities include a swimming pool, shuffleboard courts, and a neighborhood feel that residents take pride in. Residents have the option to join the Gulf Harbors Beach Club - one of the only private Gulf-front beach clubs in the area - for just $200 a year. It's a small cost that adds a lifestyle element most apartment communities simply can't offer. Day-to-day living is easy. Groceries, restaurants, shopping, and medical facilities are all close by, which matters a great deal to the 55+ residents who call this place home. The 55+ demographic is one of the most stable tenant bases in residential real estate - low turnover, consistent payment history, and genuine pride of residency. New Port Colony reflects all of that. Strong returns, updated units, a private garage, community pool, and a beach club down the road.
| MLS # | W7885459 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| HOA Dues | $308 |
| Sub-Type | For-sale |
| Status | Active |
| Year | 1973 |
| Days On Site | 156 |
| Listing Provided By | RE/MAX MARKETING SPECIALISTS | Nicholas Vavoulis |
| Bed(s) | 53 |
|---|---|
| Bath(s) | 40 Total |
| SQ Feet | 801 |
| Garage | 1 |
| Pool | Yes |
| Story(s) | 1 |
| Zoning | MF1 |
| Property | 1080 |
|---|
| State | FL |
|---|---|
| County | Pasco |
| City | NEW PORT RICHEY |
| Zip Code | 34652 |
| Area | 34652 New Port Richey |
| Community Name | NEW PORT COLONY |
| Listing VS Median (in NEW PORT COLONY) | |
Price: $2,800,000 low | high Med: $2,800,000 sqft: 801 low | high Med: 801 $ / sqft: $3,496 low | high Med: $3,496 On site: 156 low | high Med: 156 | |
| State | FL |
|---|---|
| County | Pasco |
| City | NEW PORT RICHEY |
| Zip Code | 34652 |
| Area | 34652 New Port Richey |
| Community Name | NEW PORT COLONY |
| Listing VS Median (in NEW PORT COLONY) | |
Price: $2,800,000 low | high Med: $2,800,000 sqft: 801 low | high Med: 801 $ / sqft: $3,496 low | high Med: $3,496 On site: 156 low | high Med: 156 | |
![]() | $2,800,0004954 Bitner StNew Port Richey, FL 34652 |