4954 Bitner St

New Port Colony 36-Unit Multifamily Investment New Port Richey, FL 10% Cap Rate. 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 heres 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. Theres a pool, shuffleboard, 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. Its a small cost that adds a lifestyle element most apartment communities simply cant 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, and a beach club down the road.