4954 BITNER STREET at

4954 BITNER STREET

For sale Days on market 155

$3,186,000

$3978/sq ft

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Overview

Bedroom

Bath

Year Built

1973

Garage

Sqft

801

Property Type

Villa

Property Description

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 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. There's 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. 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, and a beach club down the road.

Property Details

MLS#

W7885459

Garage

Address

4954 BITNER

City

New Port Richey

State/county

Zip/Postal Code

34652

Area

New Port Colony

Country

United States

HOA

Yes

Assoc Fee

$308

Assoc Fee Pd

Monthly

Tax Amount

$1,080

Maint Fee

$--

Tax Year

2025

Dryer

Refrigerator

Washer

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