5115 28th Ave S, Gulfport, FL 33707
5 beds · 4 baths · 2,700 sqft
Unique Investment Opportunity: Quadruplex for Sale in Gulfport, FL Presenting a rare and lucrative investment opportunity in Gulfport, Florida! This well-maintained quadruplex offers a mix of spacious 1-bedroom and 2-bedroom units, with a desirable layout that provides rental income potential on each floor. Located in a quiet, residential neighborhood, this property is ideal for investors looking to add a multifamily asset to their portfolio. Property Features: • Four Separate Units: o Two 1-Bedroom, 1-Bath Units on the ground floor at the front of the property. o For the back bldg there is One 1-Bedroom, 1-Bath Unit on the ground floor and One 2-Bedroom, 1-Bath Unit on the second floor. • Rented: Both front units are currently occupied with stable tenants, providing immediate rental income from day one. One back unit is currently available for rental! • Flexible Layout: The combination of 1-bedroom and 2-bedroom units allows for a diverse tenant base and strong rental demand in the area. • Prime Location: Situated in a peaceful residential neighborhood, this property is just a short drive from shopping, dining, public transportation, schools, and the stunning Gulf Coast beaches. • Spacious Grounds: The property sits on a large lot with a shared backyard, providing tenants with space for outdoor activities and enjoyment. • Low Maintenance: This quadruplex has been well-kept, with updated features and easy-to-manage units, making it a great addition to any investor's portfolio. This unique quadruplex in Gulfport offers both immediate rental income and long-term investment potential. The diverse mix of unit sizes, combined with its sought-after location, ensures high demand from prospective tenants. Don’t miss out on this exceptional investment opportunity! Contact us today to learn more or schedule a showing. Seller would prefer to sell all of her duplexes as a package: TB8324930, TB8324881, TB8324870, TB8324856, TB8324819
Source: STELLAR #TB8324930
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Why Roam
Gap financing to lower your down payment
Unlock down payments as low as 5% – only with Roam
5x the likelihood your offer is accepted
If a purchase takes longer than 45 days, we’ll cover the seller’s mortgage until you close
Close faster and stress-free
We close 2x faster because of our deep experience and lender relationships
Rates and payments are estimates based on public records.
Source: Public records
Source: STELLAR #TB8324930
To qualify, you must meet the current FHA or VA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 620, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
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