Saint Petersburg, FL Multi-Family Commercial Real Estate
4 results
Address
Asking Price
THE ST. PETE VILLAS FOR SALE! (8% CAP RATE)
1761 19th St S St Pete
Melrose Mercy - Pine Acres, Saint Petersburg, FL
Building Size:4,800SF
LOCATED IN BEAUTIFUL SAINT PETERSBURG, FL! MINUTES FROM WORLD FAMOUS CLEARWATER BEACH! THE ST. PETERSBURG VILLAS PRESENTS AN AMAZING OPPORTUNITY FOR AN INVESTOR TO ACQUIRE 7 INCREDIBLE INCOME PRODUCING UNITS IN SAINT PETERSBURG, FL! THE ST. PETE VILLAS ARE CURRENTLY 100% OCCUPIED AND CONSIST OF A 4-UNIT APARTMENT COMPLEX AND 3 IMMACULATE SINGLE-FAMILY HOMES. THE PROPERTIES ARE LOCATED JUST MINUTES FROM WORLD FAMOUS ST. PETE AND CLEARWATER BEACHES! THE VILLAS ARE IN FANTASTIC CONDITION AND HAVE BEEN RECENTLY RENOVATED IN 2020! THE DEMAND HAS NEVER BEEN HIGHER FOR APARTMENTS IN THE SAINT PETERSBURG AREA, AND WITH THE LOW RENTAL RATES IN-PLACE THE ASSET HAS MASSIVE VALUE-ADD POTENTIAL! THE PROPERTY CONSISTS OF SEVERELY UNDER MARKET RENTAL RATES FOR THE AREA, MAKING THIS AN INCREDIBLE VALUE-ADD OPPORTUNITY FOR A BUYER. WHILE ALL TENANTS ARE CURRENTLY ON YEARLY LEASES, ALL OF THE LEASES WILL EXPIRE WITHIN THE NEXT 3-7 MONTHS. THIS CREATES THE PERFECT SITUATION FOR THE BUYER TO INCREASE THE RENTAL RATES OF THE SHORT-TERM LEASES, WHILE KEEPING THE OTHER LEASES IN-PLACE FOR SECURITY. THE CURRENT RENTAL RATES ARE APPROXIMATELY $250-$300 LOWER THAN THE AVERAGE RENTAL RATE IN THE AREA. THIS CREATES MASSIVE UPSIDE FOR A BUYER. WHO WILL BE ABLE TO INCREMENTALLY RAISE THE RENTAL RATES OF THE BUILDING AND INCREASE THEIR NOI WITHOUT HAVING TO SPEND MONEY IMPROVING THE INDIVIDUAL UNITS! GIVEN THE ABILITY TO INCREASE THE RENTAL RATES INSTANTLY AT THE PROPERTY, A BUYER CAN OBTAIN A CAP RATE OF OVER 8% AND A CASH-ON-CASH RETURN OF APPROXIMATELY 13% BY EARLY 2021! THIS IS A UNIQUE OPPORTUNITY TO PURCHASE PROPERTY WITH MASSIVE UPSIDE, IN ONE OF THE HOTTEST MARKETS IN THE US. THE PROPERTY IS LOCATED IN ONE OF THE HOTTEST MARKETS IN THE COUNTY. SAINT PETERSBURG, FL HAS SEEN MASSIVE YEAR OVER YEAR GROWTH, LEADING TO EXCEPTIONALLY HIGH OCCUPANCY RATES. EVEN THROUGHOUT THE PANDEMIC, THE RENTAL RATES HAVE BEEN ON THE RISE IN THE AREA AND, DUE TO HIGH MASSIVE DEMAND FOR RESIDENTIAL RENTAL UNITS, THIS SHOULD CONTINUE FOR THE FORESEEABLE FUTURE. THESE IMMACULATE HOMES ARE ALL RECENTLY REDONE, AND IN FANTASTIC CONDITION. THE VILLAS ARE 100% OCCUPIED ON YEARLY LEASES AT BELOW MARKET RENTAL RATES, MAKING THIS A FANTASTIC INVESTMENT OPPORTUNITY. WHILE EACH UNIT IS CURRENTLY OCCUPIED, THE RENTAL RATES AT EACH PROPERTY ARE BELOW THE AVERAGE MARKET RATE IN THE AREA. THIS GIVES THE BUYER THE ABILITY TO ACQUIRE THIS PORTFOLIO WITH FANTASTIC LOCKED IN INCOME, THAT WILL ONLY RISE AS THE RENTAL RATES ARE INCREASED. UPON PURCHASING THIS AMAZING PORTFOLIO, A BUYER CAN OBTAIN A CAP RATE OF OVER 8% AND A CASH-ON-CASH RETURN OF OVER 13%. WITH THE ABILITY TO INCREASE THE EXTREMELY LOW RENTAL RATES INSTANTLY, THE PORTFOLIO CAN ECLIPSE A 9% CAP RATE AND A CASH-ON-CASH RETURN OF OVER 15% IN 2022. THE SELLER AND PROPERTY MANAGER HAVE DONE A FANTASTIC JOB UPDATING AND RENOVATING THE PROPERTY OVER THE PAST 3 YEARS. EACH UNIT HAS BEEN UPDATED, MAKING THE VILLAS A VERY DESIRABLE LOCATION TO LIVE. WITH THE HIGH DEMAND IN THE AREA AND THE QUALITY OF THESE UNITS, THE VILLAS STAY RENTED ALL YEAR LONG! PLEASE SEE THE FULL LIST OF UPDATES AND RENOVATIONS THAT HAVE BEEN DONE TO EACH UNIT BELOW. RECENT UPGRADES INCLUDE BUT ARE NOT LIMITED TOO; NEW ROOFS ON EACH BUILDING, NEW ELECTRICAL INSTALLED, NEW PLUMBING INSTALLED, NEW INTERIOR AND EXTERIOR PAINT, NEW WATER METERS (TO ENSURE TENANTS PAY THEIR OWN WATER), NEW IMPACT WINDOWS INSTALLED, WASHER/DRYERS INSTALLED IN EACH UNIT, NEW LANDSCAPING AND MUCH MORE!
$899,000
Lewis & Burkhard Place
1027 17th St N
Woodlawn Oaks, Saint Petersburg, FL
Lot Size:0.15Acres
St Petersburg Scarcity > Multi - Family Product available for Purchase in desirable Saint Petersburg, Florida. There is a huge demand nationwide for quality multi - family and especially in Florida and specifically in St Petersburg. This Offering is for Quad Plex in a quaint and quiet northside neighborhood. The property consists of two 2 story structures. The front building consists of a two bedroom / one bath on the ground floor and one bedroom / one bath on the top. The rear building consists of one bedroom / one bath on the bottom floor and a two bedroom and one bath on the top floor. All units have have been updated and refurbished tastefully. Both building have brand new roofs. All the units are always leased out with waiting lists. It appears an investment here would result in a strong Cap Rate of 8+%. Please consider contacting Jonny Reno La Budde * 727-510-1921 / LaBuddeReno@aol.com
$472,000
West Euclid Place
1625 9th Ave N
Woodlawn Oaks, Saint Petersburg, FL
Lot Size:0.21Acres
This is an Off Market Muli-Family Opportunity in St Petersburg, Florida. The Seller is offering the property at a discounted price. The Site consists of 2 buildings. First one is a Two Story Building with two units on the bottom both 2/1, the upstairs is a 2/2 single unit. Next door is a single floor building with one unit, 2/1.Building One is in mid-renovation - the space was semi demo with the intention to do a renovation. The Space has an incomplete interior build-out.Building Two is a single family home in fair condition.Both Buildings abuts each other. There is an opportunity to purchase the two lots next door - creating a development opportunity of 18,000 sf of land.
$379,000
10 Unit Apartment Building St Petersburg
2827 Doctor Martin Luther King Junior Street North
Crescent Heights, Saint Petersburg, FL
Lot Size:0.29Acres
$800,000
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Market Stats
Saint Petersburg has 721 commercial real estate spaces for lease, representing 4,545,296 sqft space.
308 buildings are available for sale.
In the past 30 days, Saint Petersburg has had 66 spaces leased.
Neighborhoods in Saint Petersburg, FL
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Counties near Saint Petersburg, FL
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