Property Description

New Port Colony | 36-Unit Multifamily Investment | New Port Richey, FL | 10% Cap Rate.

If you've been searching for a turnkey multifamily investment that truly checks every box, New Port Colony deserves your full attention. This 36-unit, 55+ community in New Port Richey, Florida is generating a 10% cap rate — and once you understand what's included, it's easy to see why.
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.

Included Appliances

DryerRefrigeratorWasher

Property Details

Interior

Appliances

DryerRefrigeratorWasher

Building Area Total

1087

Cooling

Central Air

Flooring

CarpetCeramic TileTile

Heating

Central

Interior Features

Ceiling Fan(s)

Laundry Features

Inside

Living Area

801

Construction

Building Area Source

Public Records

Building Area Units

Square Feet

Construction Materials

BlockStucco

Foundation Details

Slab

Levels

One

Living Area Source

Public Records

Living Area Units

Square Feet

Roof

Shingle

Year Built

1973

Site & Exterior

Covered Spaces

Yes

Exterior Features

Other

Flood Zone Code

AE

Garage Spaces

Yes

I D X Participation

Yes

Number Of Lots

43

Pool Features

Indoor

Public Survey Range

16

Public Survey Section

7

Road Surface Type

Asphalt

Sewer

Public Sewer

Total Acreage

Non-Applicable

Utilities

Cable AvailableCable Connected

Water Source

Public

Zoning

MF1

Financials

Association Fee

308

Association Fee Frequency

Monthly

Calculated List Price By Calculated Sq Ft

3977.53

Contract Status Change Date

2026-05-04

Current Price

3186000

Feed Types

BBO

Lease Considered

Yes

Minimum Lease

No Minimum

Monthly H O A Amount

308

Ownership

Fee Simple

Parcel Number

162607014.D025.01016.0

Public Survey Township

26

Tax Annual Amount

1080

Tax Block

25

Tax Book Number

C-C

Tax Legal Description

NEW PORT COLONY FIFTH WAY UNREC PLAT PCL 1016 BLOCK 25 DESC AS:COM AT SE COR OF SEC TH N01DEG21'15"E 1641.91 FT TH S89DEG56' 13"W 224.57 FT TH N00DEG03' 47"W 168.65 FT FOR POB TH N89DEG38' 45"W 28 FT TH N00DEG21' 15"E 22.67 FT TH S89 DEG38' 45"E 13.3 3 FT TH N00DEG 21' 15"E 13.33 FT TH S89DEG38' 45"E 28 FT TH S00DEG21' 15"W 13.33 FT TH N89DEG38' 45"W 13.33 FT TH S00DEG21' 15"W 22.67 FT TO POB (X)

Tax Lot

1016

Tax Year

2025

Total Actual Rent

45121

Total Annual Fees

3696

Total Monthly Fees

308

Neighborhood & Lifestyle

Community & Association

Additional Lease Restrictions

No waiting period to rent the units.

Association Amenities

Maintenance

Association Approval Required

Yes

Association Email

Ntouchton@Tampabay.rr.com

Association Fee Requirement

Required

Association Name

Nick Toucton

Community Features

Buyer Approval RequiredClubhousePool

Lease Restrictions

Yes

M L S Area Major

34652 - New Port Richey

Number Of Pets

2

Pets Allowed

Dogs OKYes

Senior Community

Yes

Subdivision Name

NEW PORT COLONY

Listing provided courtesy of STELLAR via IDX. Updated: May 5, 2026, 9:23pm.

4954 BITNER STREET

4954 BITNER STREET

Property Description

Property Details

Interior

Construction

Site & Exterior

Financials

Neighborhood & Lifestyle

Community & Association

Nicholas Vavoulis

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4954 BITNER STREET

4954 BITNER STREET

Property Description

Property Details

Interior

Construction

Site & Exterior

Financials

Neighborhood & Lifestyle

Community & Association

Nicholas Vavoulis