1221 E DR MARTIN LUTHER KING JR BOULEVARD Tampa, FL $ 399,000
1221 E DR MARTIN LUTHER KING JR BOULEVARD
$ 399,000
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1221 E DR MARTIN LUTHER KING JR BOULEVARD

Tampa, FL, 33603
$ 399,000
Bedrooms2 Baths1.0 Sq 756

Monthly Estimate*

$ 2,519

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Multi-Family Home for sale in Tampa, FL

for $399,000 with 2 bedrooms and 1 full bath. This 756 square foot home was built in 1920 on a lot size of 0.16.

Income-Producing Investment Opportunity – E. Martin Luther King Jr. Blvd, Tampa Situated on an approximately 6,750 SF lot, this income-producing commercial property offers much more than its building footprint. The oversized, fully fenced site combines a renovated office, ample parking, a large usable rear yard, outdoor storage and a dedicated storage shed—creating multiple ways for a tenant or owner-user to utilize the entire property and supporting strong rental potential of approximately $4,500/month ($54,000 annually). nvestment angle: A compact commercial asset with multiple usable components and the ability to generate approximately $54,000 in gross annual rental income—ideal for an investor looking for cash flow or an owner-user who wants to offset occupancy costs with a strategically located Tampa property. The property features a fully renovated office building with private offices, updated restroom, coffee bar, three mini-split HVAC systems, tankless water heater, new windows, upgraded lighting and modern flooring. The large fenced rear yard provides valuable additional utility, including outdoor storage plus one storage shed, creating flexibility for contractors, service businesses, trades, equipment storage or other commercial users. With potential rent of approximately $4,500 / month ($54,000 annually), the property offers compelling income potential relative to its size. The combination of office + secured outdoor storage + dedicated shed + parking allows an investor to market more than simply office space and potentially command a premium from users who need both workspace and storage. Additional highlights include high-visibility MLK frontage, approximately 4–5 front parking spaces, a large fenced rear area with potential for additional parking, Opportunity Zone location.

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Multi-Family Active

Price

$ 399,000

Bedrooms

2

Full Bath

1

Property Type

Multi-Family

Taxes

$ 1,683

Style

Duplex

Lot Size

0.16

Year Built

1920

Town/City

Tampa

County/Region

Hillsborough

MLS | Web ID

TB8535299

Features
General
Sewer Public Sewer
Heating None
Cooling Mini-Split Unit(s)
Utilities Cable Available Electricity Available Phone Available
Roof Shingle
Appliances Tankless Water Heater
Zoning CG
Construction Materials Asbestos
Year Built 1920
Tenant Pays Water
Levels One
Property Subtype Duplex
Tax Year 2025
Ownership Fee Simple
County Hillsborough
New Construction false
Property Type Residential Income
Subdivision Name UNPLATTED
Garage Y/N false
Other Structures Shed(s) Storage
Status Active
Directions From I-275 take Exit 46A for Dr. Martin Luther King Jr. Blvd. (SR 574) and head east. Continue approximately 1.5 miles. The property is located on the right at 1221 E. Martin Luther King Jr. Blvd. Tampa FL 33603. Or if approaching from Downtown Tampa: Driving Directions: From Downtown Tampa head north on N. Nebraska Ave. turn right onto E. Martin Luther King Jr. Blvd. (SR 574) and continue east. The property will be on the right at 1221 E. Martin Luther King Jr. Blvd. Tampa FL 33603.
City TAMPA
Senior Community Y/N false
MLS Area 33603 - Tampa / Seminole Heights
Lot Size Units Square Feet
Lot Size Square Feet 6750
Carport Y/N false
Listing Terms Cash Conventional FHA Other
Land Lease Y/N false
Tax Annual Amount 1683.2
Property Condition Completed
Additional Parcels Y/N false
Lease Considered Y/N true
Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8535299
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Occupancy Type Vacant
Tax Lot 6750
Legal Description LOT BEG 712 1/4 FT W & 25 FT S OF NE COR OF NW 1/4 & RUN S 120 FT W 54.25 FT N 120 FT & E 54.25 FT TO BEG LESS NLY 6 FT FOR BUFFALO AVE R/W AND N 1/2 OF VACATED ALLEY ABUTTING ON S
Minimum Lease No Minimum
Water Access Y/N false
Water View Y/N false
Flood Zone Code X
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Interior
Interior Amenities Ninguno
Flooring Luxury Vinyl
Furnished Y/N Unfurnished
Air Conditioning Y/N true
Heating Y/N false
Fireplace Y/N false
Laundry Features None
Total Bedrooms 2
Total Baths 1
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Exterior
Exterior Amenities Dog Run Garden Private Entrance Private Mailbox Private Yard Storage
Parking Features Driveway Guest Oversized Parking Pad
Water Source Public
Lot Size Area 6750
Foundation Details Crawlspace
Number of Buildings 1
Spa false
Building Area Total 756
Lot Dimensions 54 x 125
Lot Size Acres 0.16
Road Surface Type Asphalt
Private Pool false
Waterfront Y/N false
Number of Lots 1
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* Excluded Features
List By
eri@pegasusgroupus.com

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Affordability Calculator

$2,660
Per Month
95%
5%
0%
Monthly Principal & Interest
$2,519
Monthly Property Taxes
$140
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
8/12/2026$399,000 -8.70% Price Down
8/3/2026$437,000 Listed Price

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1221 E DR MARTIN LUTHER KING JR BOULEVARD, Tampa, FL, 33603 is a Multi-Family Home for sale at $399,000 with 756 sqft and a lot size of 0.16. 1221 E DR MARTIN LUTHER KING JR BOULEVARD has 2 bedrooms, 1.0 baths, and was built in 1920. The property's zip code is 33603 which is in Tampa, FL