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Key Details
Sold Price $775,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,400 sqft
Price per Sqft $143
Subdivision Bon Air
MLS Listing ID U8028055
Sold Date 02/15/19
Construction Status Inspections
HOA Y/N No
Year Built 1926
Annual Tax Amount $5,226
Lot Size 7,840 Sqft
Acres 0.18
Lot Dimensions 48x160
Property Description
BOOMING RENTAL MARKET! Investor Alert!! Come see this multi-plex, TODAY! 7 UNITS with 100% occupancy. IMMEDIATE CASH FLOW! NON-FLOOD & NON-EVACUATION. Building #1 consists of 4- 2 bedrooms/1 bathroom apartments. Building #2 consists of a 1 bedroom/1 bathroom, upstairs and Large Studio apartment downstairs. Building #3 is a 1 bedroom/1 bathroom cottage. TONS of off-street PARKING. ALL units have been brought up to CODE, with C/O’s. All units are FIRE CODE certified, with annual contracts. The current offering CAP RATE is 7.5%. ALL UNITS have room for RENT INCREASES, compared to the market. The Adjusted CAP RATE should be closer to 9.5%. Current NET INCOME of $60,000/annually. All units have been remodeled to include: Newer A/C, newer metal roof, newer appliances, refrigerator, stove, microwave and dishwasher. Building #2 has an INSIDE LAUNDRY ROOM equipped w 2 each, Full-sized, Coin-op, commercial washers and dryers. Building #3 has SEPARATE washer/dryer. Rental history and leases available upon request. This MULTI-PLEX is centrally located to some of St Petersburg’s HOTTEST AREAS: Historic Uptown, The EDGE District, Historic Kenwood, Old Northeast, and Euclid St. Paul's! This property is walking/biking distance to: St Anthony’s Hospital, Tropicana Field, USF, Vinoy Park, and the Pinellas Trail. Minutes away from dining, shopping ,local bars, breweries, art galleries and GROOVY HANGOUTS!
Location
State FL
County Pinellas
Community Bon Air
Direction N
Rooms
Other Rooms Inside Utility
Interior
Heating Central
Cooling Central Air
Flooring Carpet, Tile
Furnishings Unfurnished
Fireplace false
Appliance Cooktop, Dishwasher, Microwave, Range, Refrigerator
Laundry Inside, In Garage
Exterior
Exterior Feature Fence, Lighting, Storage
Utilities Available Cable Available, Electricity Connected, Public, Sewer Connected, Water - Multiple Meters
Roof Type Metal
Porch Deck, Patio
Garage false
Private Pool No
Building
Lot Description Historic District, City Limits, Near Public Transit, Sidewalk, Street Brick
Lot Size Range Up to 10,889 Sq. Ft.
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding,Wood Frame
New Construction false
Construction Status Inspections
Schools
Elementary Schools North Shore Elementary-Pn
Middle Schools John Hopkins Middle-Pn
High Schools St. Petersburg High-Pn
Others
Pets Allowed No
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Bought with COLDWELL BANKER RESIDENTIAL REAL ESTATE