2922 N 12th St, Tampa, FL 33605

Exceptional Multi-Family Investment Opportunity in Revitalized East Tampa!

Seize this rare chance to own a versatile 5-bedroom, 0-bathroom multi-family property located at 2922 N 12th St in the rapidly appreciating 33605 zip code of Tampa, FL. Built in 1925, this historic building offers a substantial 2,110 sqft of living space on a 5,749 sqft lot, providing significant income potential or a spacious owner-occupied unit with rental income.

This duplex, identified by public records as having multiple units (e.g., a 3-bedroom, 1-bath and a 1-bedroom, 1-bath configuration per some records), is a fantastic investment at $319,990. It combines classic charm with the practical benefits of multi-unit living, featuring central cooling and an ideal location near Tampa’s most vibrant urban centers.

Property Highlights:

• 5 Bedrooms / 0 Bathrooms: Please note: While the listing states 0 bathrooms, public records indicate this is a multi-family duplex likely with 2 or more bathrooms (e.g., a 3/1 and a 1/1 unit), making this a highly desirable configuration for renters. Buyers should verify the exact unit configurations and bathroom counts.
• 2,110 sqft: Generous interior living space spread across multiple units, maximizing rental income or multi-generational living options.
• Built in 1925: A classic Tampa property with historic character and robust construction, offering a solid foundation for updates that enhance its value and appeal.
• Estimated Refinance Payment: $2,249/mo: An attractive estimated payment for a multi-family property of this size and price point.
• Priced at $319,990: This is an exceptionally competitive price for a 5-bedroom multi-family property in Tampa, particularly within the dynamic 33605 zip code.

Tampa (33605) Multi-Family Market Insights (as of May 2025 data):

The 33605 zip code is part of Tampa’s broader housing market, which is generally a Balanced Market, offering opportunities for both buyers and sellers. The multifamily sector in Tampa has seen significant activity, with increasing supply but also strong absorption rates.

• Median Sold Price (5-Bedroom Homes in Tampa): The median sold price for 5-bedroom homes (including single-family and potentially some multi-family) across Tampa was $947,500 in May 2025. This property’s price of $319,990 is a dramatic discount compared to this median, highlighting its incredible value, especially as a multi-family income-generating asset.
• Median Sold Price (33605 Overall): The median sold price for all homes in 33605 was $272,500 in May 2025. This property’s price is slightly above the overall median, reflecting its multi-family status and larger square footage.
• Days on Market: Homes in 33605 sold after an average of 67 days on the market in May 2025. This allows buyers ample time for due diligence.
• Negotiation Leverage: Homes in 33605 sold for an average of 1.92% below asking price in May 2025, and over 58% of homes in Tampa overall sold below asking price. This indicates potential for buyer negotiation.
• Multi-Family Market Trends in Tampa: The overall Tampa multifamily market saw approximately 120 assets sold in Q1 2025, with an average price per unit of $215,000. While detailed inventory for 5-bedroom multifamily properties in 33605 specifically is not readily available, the increasing overall inventory in Tampa and buyer leverage indicate a favorable environment for investors.

Location & Investment Potential:

2922 N 12th St boasts a prime location in East Tampa, offering immense appeal for renters and residents:

• Proximity to Urban Hubs: Just minutes from Downtown Tampa, Historic Ybor City (renowned for its nightlife, restaurants, and cultural events), Water Street, Channelside, and the Gasworx development.
• Convenient Access: Easy access to major interstates (I-275, I-4) for seamless commutes throughout the Tampa Bay area.
• Community Amenities: Near local parks and public transportation, enhancing tenant desirability.
• No HOA or CDD fees: Lower carrying costs for an investor or owner-occupant.

Important Considerations for Investors/Buyers in Tampa, FL:

• Property Taxes: The median effective property tax rate in 33605 is approximately 1.30%. For a $319,990 home, annual property taxes could be estimated around $4,160+, though this can vary based on specific assessments and exemptions. Public records for this property showed 2024 taxes at $2,378 on a lower assessed value; taxes will likely increase significantly upon sale.
• Multi-Family Home Insurance: Insurance for multi-family properties in Tampa can be substantial due to location and age. Average costs per unit typically range from $1,100 to $3,500+ per unit per year, with increases noted over 34% year-over-year in some areas as of early 2024. For a property with multiple units built in 1925, buyers should anticipate higher premiums and obtain specific quotes.
• Flood Risk (for 2922 N 12th St, Tampa, FL 33605): While specific, detailed FEMA flood zone information for this exact address was not directly found to be high-risk in a quick search, the general Tampa Bay area and Hillsborough County have high-risk flood zones. It is imperative for buyers to consult official FEMA Flood Insurance Rate Maps (FIRMs) for 2922 N 12th St via the FEMA Flood Map Service Center or Hillsborough County’s tools. Flood insurance should be seriously considered, as standard homeowners’ insurance does not cover flood damage.
• Age of Property (Built 1925): While offering charm, older properties may require updates to plumbing, electrical systems, and roofing to meet current codes and tenant expectations, which can be a significant capital expenditure.
• Rental Income Potential: Given the property’s size and location in a growing area, there is strong potential for rental income. Investors should conduct a thorough rental market analysis for comparable multi-family units in the 33605 zip code.

This multi-family property at 2922 N 12th St is an outstanding and highly accessible investment opportunity in a prime Tampa location. Its competitive price point, significant square footage, and income-generating potential make it a compelling asset for any portfolio or for an owner-occupant looking to offset living expenses.

Don’t miss this incredible chance to invest in Tampa’s thriving real estate market! Contact us today to schedule a private showing and discuss the immense potential this property offers.