$3,186,000
4954 Bitner Street
New Port Richey, FL 34652
Listing updated: May 7, 2026 at 1:23 PM ET
Property type
Year built
Price / sq ft
HOA dues
Days on market
Garage space
Flood zone
About this home
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.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history3 days on market
- Status: ActiveMay 4, 2026
- Listed$3,186,000May 4, 2026
- Price increased$3,186,000
Facts & features
- Property type
- Residential Income
- Sub type
- Triplex
- Status
- Active
- Days on market
- 3
- Subdivision
- New Port Colony
- County
- Pasco
- Year built
- 1973
- Living area
- 801 sq ft
- Price/sq ft
- $3,978
- Building area
- 1,087 sq ft (Public Records)
- Lot size
- 0 sq ft
- Lot category
- Non-Applicable
- Flood zone
- AE (12101C0351G)
- Garage
- 1 spaces
- Pool
- Private pool
- Annual taxes
- $1,080 (2025)
- Parcel #
- 16-26-07-014.D-025.01-016.0
- Zoning
- MF1
- MLS #
- W7885450
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Interior Details
- Bedrooms
- 53
- Flooring
- Carpet, Ceramic Tile, Tile
- Appliances
- Dryer, Refrigerator, Washer
- Interior features
- Ceiling Fans(s)
- Laundry
- Inside
- Stories / Levels
- One
Heating & Cooling
- Heating
- Central
- Cooling
- Central Air
Parking
- Garage spaces
- 1
- Attached garage
- Yes
HOA & Financial
- HOA fee
- $308 / Monthly
- Monthly HOA
- $308/mo
- Total monthly fees
- $308/mo
- Total annual fees
- $3,696
- HOA name
- Nick Toucton
- CDD
- No
- Min lease term
- No Minimum
- Listing terms
- Cash
- Ownership
- Fee Simple
- Available for lease
- Yes
- Lease restrictions
- Yes
- Additional lease restrictions
- No waiting period to rent the units.
- Approval process
- Buyer to verify lease restrictions.
Exterior & Construction
- Exterior features
- Other
- Construction materials
- Block, Stucco
- Roof
- Shingle
- Foundation
- Slab
- Pool
- Private pool
- Road surface
- Asphalt
Utilities
- Sewer
- Public Sewer
- Water source
- Public
- Utilities
- Cable Available, Cable Connected
Community
- Pets allowed
- Dogs OK, Yes
- Senior community
- Yes
Listing Details
- Listing date
- 2026-05-04
- On market date
- 2026-05-04
- Original list price
- $3,186,000
- Occupant type
- Tenant
- MLS area
- 34652 - New Port Richey
- Listing AOR
- West Pasco
- Status changed
- 2026-05-04
- 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)
Flood risk
FEMA Special Flood Hazard Area (1% annual-chance / “100-year” floodplain). Flood insurance is generally required by mortgage lenders.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
US 19 west Marine. Right on Parkway
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Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of May 7, 2026 at 1:23 PM ET. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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