Courtesy of
- Listing Office: LPT REALTY
- Status: Active
- MLS ID: MFRTB8303107
Description
-
Description:
10% CAP RATE!!! FOUNDATION REPAIRS COMPLETED!!! ADDITIONAL WATERFRONT LOT INCLUDED!!! ZERO DAMAGE FROM EITHER HURRICANE!!! PHENOMENAL MULTI UNIT INVESTMENT OPPORTUNITY WITH 6 UNITS PRICED FOR AN IMMEDIATE SALE IN A GREAT ST. PETE NEIGHBORHOOD WITH 135Ft OF WATER FRONTAGE!!!! Fully occupied cash generating investment property and all tenants are on MONTH TO MONTH AGREEMENTS!!! 3 two bedrooms 1 bath 2 studio 1 one bed one bath, fully occupied currently, opportunity to renovate units and raise rents. CURRENT RENTS ARE AS FOLLOWS: $1,800, $1,800, $1,800, $1,200, $1,200 $1,150 Total: $8,950 per month and $107,400 total income per year!!! Expenses: $250 per month for water garbage pickup $94 per month, $4,128 annually. Taxes $6,800 annually and Insurance $4,103 annually, never flooded in the last 20 years! Total expenses annually : $15,031 Net annual profit roughly: $92,368!!! Opportunity for laundry in the back, no laundry onsite currently, could be income producing laundry building onsite to be built as ADU type building. Upgraded plumbing 4 years ago Upgraded electrical 4 years ago Air condition 4 years old Central air. 10% cap rate with opportunity to boost to 12-15% cap rate with rent raise and laundry area addition!!!
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Video
- VirtualTourURLUnbranded: https://www.propertypanorama.com/instaview/stellar/TB8303107
Basics
- Date added: Added 5 months ago
- Category: Multi Family
- Type: Residential Income
- Bedrooms: 0
- Bathrooms: 0
- Area, sq ft: 3409 sq ft
- Lot size, sq ft: 15494 sq ft
- Year built: 1980
- UnitNumber: 1
- SubdivisionName: ST. PETE
Location
- CountyOrParish: Pinellas
- City / Department: ST PETERSBURG
Property Features
- Interior Features: Ceiling Fans(s)
- Laundry Features: None
- Waterfront YN: Yes
- Waterfront Features: Canal - Saltwater, Canal Front
- Exterior Features: Lighting, Sidewalk
- Roof: Shingle
- Water Source: Public
- Sewer: Public Sewer
- Cooling: Central Air
- Heating: Central
Property Details
- Subdivision Name: ST. PETE
- Construction Materials: Stucco
Fees&Taxes
- Tax Year: 2023
- Tax Annual Amount: $6,836
Amenities & Features
- Waterfront available: Yes
- GarageYN: No
- AttachedGarageYN: No
- FireplaceYN: No
- PoolPrivateYN: No
- Cooling: Central Air
- ExteriorFeatures: Lighting, Sidewalk
- Utilities: BB/HS Internet Available, Cable Available, Cable Connected, Electricity Available, Electricity Connected, Sewer Connected, Water Available, Water Connected
- Features:
