$1,200,000

About This Property

This amazing 8 unit multifamily opportunity is located only a short walk from Central Avenue, giving tenants access to retail, restaurants and nightlife such as Dead Bob’s, The Blend, Starbucks, Earth Origins Market, Jane’s Nursery, and more. It is also less than a ten minute drive to Treasure Island, and a couple blocks from St. Petersburg College’s Gibbs Campus, attracting students, young professionals, and retirees as tenants. Each unit has been meticulously maintained with renovated kitchens in 6 units, new vanities in all but two bathrooms, central A/C, new ceiling fans and junction boxes, new HVAC in units 3 & 4, and new roofs in 2018 and 2022. With two parking spots per unit and gravel landscaping, Buyers will have minimal exterior maintenance and expenses. Finally, with mostly moth-to-month leases and below market rents, a Buyer can add value simply by increasing rental rates. Investment highlights include: •Turnkey Investment requires minimal monthly maintenance • Below market rents and mostly month-to-month leases that can be terminated with 30 days’ notice allows Buyer to add value simply by increasing rental rates • New roofs in 2018 and 2022 • Flood Zone X • Large walk-in closets in each unit • Extremely quiet neighborhood with the Pinellas Trail located within 200 feet of the property • Renovated kitchens and new vanities in all but two units • Terrazzo floors under carpet • Central A/C with new HVAC unit in units 3&4 • New ceiling fans and junction boxes • Located in Pasadena, one of the most desirable neighborhoods of St. Petersburg, the Property gives tenants walking access to retail along Central Avenue including The Blend, Dead Bob’s, Earth Origins Market, Starbucks, Jane’s Tropical Nursery & Tropical, Walgreens, and more. The property also sits only a ten minute drive from St. Pete Beach and a few blocks away from St. Petersburg College’s Gibbs Campus, attracting students, young professionals, and retirees alike.

infoProperty Details

Property Type

Residential Income

Year Built

1966

Living Area

5,408 sqft

Lot Size

0.44 acres

Bedrooms

10

Bathrooms

8

Ownership

Fee Simple

Days on Market

5

List Date

chairInterior Features

yardExterior & Lot

Listed By

BRIDGEWATER COMMERCIAL RE

813-541-4254

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