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10637 LITHIA PINECREST RD Lithia, FL 33547
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Key Details
Sold Price $850,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 4,468 sqft
Price per Sqft $190
Subdivision Zzz | Unplatted
MLS Listing ID A4215524
Sold Date 07/09/19
Bedrooms 10
Full Baths 5
Construction Status Financing
HOA Y/N No
Year Built 1974
Annual Tax Amount $7,535
Lot Size 5.000 Acres
Acres 5.0
Property Description
Motivated Sellers! Updated, 16 Beds MONEY MAKING ALF operated by The Same Owner for 23 Years. Reliable Annual Income Received is Approximately 25% Below Market Rent (Market Rent Increase Would Generate Over 22% Cap Rate.) This Well Established ALF Sits on 5 Commercial Acres (Can Modify Existing Building to 24 Beds.) Can Expand beyond 24 Beds (on 5 Acres Commercial Property) and Could be Perfect to Include Lucrative Memory Care Units.
Seller Will Also Consider an Attractive Lease with Two Acres.
In Addition, Seller Has a Fully Operating Recently Renovated, Profitable 6 Beds ALF Available(nearby) on 1 Commercial Acre for Only an Additional $325,000. A Great Opportunity to Include Lucrative Memory Care Units. Sold Separately or Package Deal.
Seller is Religious and Under Charges Some of the Residents as a Way of Giving Back to the Community. If New Residents Were Charged the Going Rate, it Would Increase the Bottom Line Significantly!
The Seller and Her Team Would be Willing to Stay up to a Year to Help With the Transition.
The Sellers are Committed to Helping New Buyers Succeed and Will be Available to Help Throughout the Transition.
The ALF's are located in Hillsborough County. According to the 2010 census, population was 1,229,226, making it the fourth most populous county in Florida. Please call or email If you are interested in further information about this golden opportunity.
dimensions approximate, buyers to verify. Information deemed reliable but not guaranteed.
Location
State FL
County Hillsborough
Community Zzz | Unplatted
Zoning AR
Rooms
Other Rooms Attic
Interior
Interior Features Attic, Ceiling Fans(s), Window Treatments
Heating Central
Cooling Central Air
Flooring Laminate
Furnishings Furnished
Fireplace true
Appliance Dishwasher, Dryer, Exhaust Fan, Freezer, Microwave, Microwave Hood, Oven, Range, Range Hood, Refrigerator, Washer
Exterior
Exterior Feature Fence, Outdoor Grill
Garage Boat, Guest, None, Open
Utilities Available Cable Connected
Waterfront false
Roof Type Shingle
Parking Type Boat, Guest, None, Open
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 5 to less than 10
Structure Type Block
New Construction false
Construction Status Financing
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Membership Fee Required None
Listing Terms Cash, Conventional
Special Listing Condition None
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