THE LOWRY LANE WATERFRONT RESORT IS 4,483 (M.O.L) SQUARE FEET OF PARADISE, WITH OVER 4 PRIVATE BEDROOMS, CONSISTING OF 10 TOTAL BEDS AND 3.5 BATHROOMS! THIS CONCRETE BLOCK RESORT SITS DIRECTLY ON THE HILLSBOROUGH RIVER IN THE UP-AND-COMING SEMINOLE HEIGHTS NEIGHBORHOOD OF TAMPA, FL! THE RESORT HAS BEEN UPDATED WITH ONLY THE FINEST FINISHES AND FIXTURES THROUGHOUT AND IS IN FANTASTIC CONDITION! THE PROPERTY CURRENTLY HAS A BRAND NEW 5-YEAR (NNN) LEASE IN PLACE THAT INCLUDES RENTAL INCREASES EACH YEAR. THE LEASE, WHICH WILL COMMENCE ON THE DAY OF CLOSING IN 2022, WILL PAY THE BUYER $9,000 PER MONTH INITIALLY AND ONLY INCREASES OVER TIME! THE TENANT IS EXTREMELY STRONG AND HAS BEEN IN THIS BUSINESS FOR OVER 10 YEARS. THEY OWN AND OPERATE OVER 25 PROPERTIES IN THE TAMPA/ST.PETE/CLEARWATER AREA AND HAVE A STRONG TRACK RECORD OF SUCCESS! THEY SPECIALIZE IN SHORT-TERM RENTAL/RESORT PROPERTIES AND HAVE ONE OF THE MOST SUCCESSFUL BUSINESSES IN ALL OF FLORIDA. CURRENTLY, THE PROPERTY BOASTS AN IN-PLACE CAP RATE OF OVER 6.1%. THIS ONLY GETS BETTER AS THE NNN LEASE WILL INCREASE EACH YEAR! A BUYER CAN EASILY OBTAIN A CAP RATE OF OVER 6.5% AND A CASH-ON-CASH RETURN OF OVER 8% BY EARLY 2023! THE TENANT HAS INVESTED OVER $120,000 OF THEIR OWN FUNDS TO RENOVATE AND UPGRADE THIS AMAZING PROPERTY IN 2022! THIS ONE-OF-A-KIND OPPORTUNITY IS PERFECT FOR AN INVESTOR LOOKING FOR CONSISTENT MONTHLY INCOME IN BEAUTIFUL TAMPA, FL. WITH A LONG-TERM LEASE IN PLACE, WHICH WILL PAY THE OWNER A MINIMUM OF $108,000 ANNUALLY, A BUYER CAN COLLECT MONTHLY RENT FOR THE NEXT 5-YEARS + WITHOUT LIFTING A FINGER! THE CURRENT TENANT IS RESPONSIBLE FOR ALL REPAIRS AND MAINTENANCE AT THE PROPERTY AS WELL AS ANY OTHER EXPENSE INCURRED AT THE RESORT, OTHER THAN PROPERTY TAX AND PROPERTY INSURANCE, THROUGHOUT THE ENTIRE TERM OF THE LEASE! AT CLOSING, THE TENANT WILL SIGN A BRAND NEW 5-YEAR NNN LEASE STARTING WITH MONTHLY PAYMENTS OF $9,000. THE LEASE PAYMENTS WILL INCREASE BY $500 EACH YEAR, ONLY IMPROVING THE RETURNS FOR THE BUYER! THE TENANT IS RESPONSIBLE FOR ALL EXPENSES AT THE PROPERTY EXCEPT TAXES AND PROPERTY INSURANCE. THIS IS A FANTASTIC HANDS-FREE INVESTMENT WITH AN EXTREMELY STRONG TENANT IN PLACE AT A ONE-OF-A-KIND PROPERTY IN TAMPA, FL! THIS AMAZING RESORT IS IN IMMACULATE CONDITION AND HAS ALL THE FINEST FINISHES, SUCH AS ALL-NEW BATHROOMS AND A CUSTOM WOOD KITCHEN. UPDATED HVAC SYSTEMS, LUXURIOUS WOOD FLOORING, INTERIOR PAINT, 7+FLAT SCREEN TV'S, INDOOR FIREPLACE, WIFI ACCESS, WASHER/DRYER, WATERFRONT VIEW, PRIVATE BOAT, AND A CUSTOM POOL WITH HOT TUB! IT ONLY GETS BETTER AS THE PROPERTY HAS AN ONE-OF-A-KIND BACKYARD WITH A POOL, OUTDOOR SEATING AREA, HAMMOCK, BOAT, HOT TUB, GARDEN, GRILL, FIRE PITT, AND MUCH MORE. THE OWNER INVESTED OVER $75,000 IN NEW FURNITURE INSIDE THE HOUSE AS WELL! ALL UPGRADES, INCLUDING THE NEW FURNITURE AND FIXTURES, WILL CONVEY TO THE BUYER AT CLOSING. THE OWNER PUT OVER $120,000 INTO THE PROPERTY, MAKING THIS ONE OF THE PREMIER WATERFRONT RESORTS IN THE TAMPA BAY AREA! THIS BREATHTAKING RIVERFRONT RESORT IS LOCATED ON THE WIDEST SECTION OF THE HILLSBOROUGH RIVER IN TAMPA, FL! THE PROPERTY CONSISTS OF ALL THE FINEST FINISHES AND FIXTURES THROUGHOUT. CENTRALLY LOCATED IN THE TAMPA BAY AREA, EASY ACCESS TO BEACHES, DOWNTOWN TAMPA, LOCAL ATTRACTIONS, AND MANY FABULOUS GOLF COURSES. THE PROPERTY IS WITHIN WALKING DISTANCE OF DINING OPTIONS, GROCERY STORES, SHOPPING MALLS, AND PLAZAS. A SHORT DRIVE TO WORLD-FAMOUS CLEARWATER BEACH JUST OVER THE COURTNEY CAMBELL CAUSEWAY!
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