A rare opportunity to acquire a turnkey cash-flowing 6 Room Padsplit in one of Tampa’s most in-demand West Tampa rental corridors- walk to Raymond James Stadium. 3311 W Douglas St is fully leased, stabilized, and operated by PadSplit, a nationally recognized co-living platform focused on affordable housing. PadSplit handles all resident screening, compliance, and day-to-day management, delivering a single monthly rent deposit directly to the owner’s account monthly. The property is currently leased exclusively to PadSplit, who subleases individual rooms to professionally vetted members.
This fully occupied asset includes (6) 1-bedroom units, two of which feature upgrades (one with a private entrance and one with a private bath), with a blended average of $885/month in rent (after vacancy and booking fees). That translates to $5,310/month in gross rent or $56,875/year under pro forma conditions.
T-12 performance shows $53,279 in gross income with $16,772 in operating expenses, yielding an NOI of $36,507 and a 6.35 cap rate. The pro forma assumes improved net returns due to a decrease in new management booking costs and platform fees, resulting in an NOI of $40,103 and a 6.97 cap rate, all with expenses held constant. It’s a lean, predictable operation ideal for passive investors seeking immediate returns & tax benefits with minimal overhead.
Management is already in place and can remain for a seamless transition, making this a true turnkey asset. With PadSplit acting as your master tenant and manager, you benefit from operational simplicity, low vacancy, and passive income flow from day one.
Please conduct all due diligence prior to submitting an contract. $10,000 Earnest Money Deposit (EMD) required with accepted contract. Contact us for preferred lender referrals.
Reach out now for the full financial package or to schedule a private showing. This offering combines stable return with long-term upside and it’s priced to move.
This fully occupied asset includes (6) 1-bedroom units, two of which feature upgrades (one with a private entrance and one with a private bath), with a blended average of $885/month in rent (after vacancy and booking fees). That translates to $5,310/month in gross rent or $56,875/year under pro forma conditions.
T-12 performance shows $53,279 in gross income with $16,772 in operating expenses, yielding an NOI of $36,507 and a 6.35 cap rate. The pro forma assumes improved net returns due to a decrease in new management booking costs and platform fees, resulting in an NOI of $40,103 and a 6.97 cap rate, all with expenses held constant. It’s a lean, predictable operation ideal for passive investors seeking immediate returns & tax benefits with minimal overhead.
Management is already in place and can remain for a seamless transition, making this a true turnkey asset. With PadSplit acting as your master tenant and manager, you benefit from operational simplicity, low vacancy, and passive income flow from day one.
Please conduct all due diligence prior to submitting an contract. $10,000 Earnest Money Deposit (EMD) required with accepted contract. Contact us for preferred lender referrals.
Reach out now for the full financial package or to schedule a private showing. This offering combines stable return with long-term upside and it’s priced to move.
Property Details
Price:
$575,000
MLS #:
C7513090
Status:
Active
Beds:
6
Baths:
2
Address:
3311 W DOUGLAS STREET
Type:
Single Family
Subtype:
Single Family Residence
Subdivision:
JOHN H DREWS FIRST EXT
Neighborhood:
33607 – Tampa
City:
TAMPA
Listed Date:
Aug 1, 2025
State:
FL
Finished Sq Ft:
1,616
Total Sq Ft:
1,386
ZIP:
33607
Lot Size:
4,450 sqft / 0.10 acres (approx)
Year Built:
1964
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Schools
Interior
Appliances
Refrigerator
Bathrooms
2 Full Bathrooms
Cooling
Central Air
Flooring
Other
Heating
Electric
Laundry Features
Common Area
Exterior
Construction Materials
Block
Exterior Features
Other
Roof
Shingle
Financial
Tax Year
2024
Taxes
$4,596
Map
Community
- Address3311 W DOUGLAS STREET TAMPA FL
- SubdivisionJOHN H DREWS FIRST EXT
- CityTAMPA
- CountyHillsborough
- Zip Code33607
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Courtesy of DOWNING FRYE REALTY, INC.. Disclaimer: All data relating to real estate for sale on this page comes from the Internet Data Exchange (IDX) Program of Stellar MLS. Detailed information about real estate listings held by brokerage firms other than Clarence Hasenbeck include the name of the listing broker. Neither the listing company nor Clarence Hasenbeck shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. Stellar MLS. All rights reserved. 3311 W DOUGLAS STREET
TAMPA, FL
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