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Home For Sale Florida St Petersburg 5582
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Apartment Building For Sale By Owner

Apartment Building in Historic Uptown St Petersburg




621 15th Street N, St Petersburg, Florida 33705 United States
Description

Excellent investment within walking distance to Downtown St Petersburg. The property consists of eight large studio efficiency apartments and one stand alone two bedroom home. The landlord currently pays for water, sewer, gas and refuse while the tenants pay for their own electric. The efficiencies are approximately 312 square feet and the home is approximately 680 square feet. Extensive renovations to both buildings was completed in 2018 and include new roof, new fencing, refinished wood floors, new flooring and new appliances just to name a few. Additional value opportunity for new ownership.

Location Description: Since the new millennium, St. Petersburg has emerged as a top destination for the arts – with the dynamic new Dali Museum opening in 2011, the Dale Chihuly world renowned glass collection, and six art districts. The city’s notable inverted pyramid Pier, which saw its last complete renovation in 1989 and thrived more than 24 more years before the badly deteriorating facility was closed in 2013 and demolished starting in 2015. The city is amid a public process to replace the historic, iconic waterfront landmark. As St. Petersburg enters its second golden age, and steps boldly into the 21st century, the downtown core continues its revitalization with projects that include retail shops, restaurants, and movie theaters. More than 900 events bring over 10 million people each year to the sunshine city to experience yacht races, triathlons, baseball, basketball, cycling, festivals, cultural exhibits, and music. The city easily attracts tourists with its cultural district that includes seven museums in the downtown district. A state university, 10 marine institutes and more than two dozen galleries, and the All Children's Research Center attest to the city's commitment to education and health care. Historic neighborhoods continue to be restored, as residents invest in their communities with a great source of pride. Here, young and old, tradition and innovation come together to create a vibrant sense of community.

Income/Expense Info: Proforma

Financial: 2019

Gross Income: $101,136

Operating Expenses: $10,475

Net Operating Income: $90,661

Price: $870,000
Property Sub-Type: Apartment Building
Cap Rate: 7.99 %
Total Building Size: 5528 SF
Total Lot Size : .14 Acres
Year Built : 1925
No of Stories: 2
Occupancy: 100 %
Listing ID: 5582
Attachments

Map of: 621 15th Street N, St Petersburg, Florida 33705 United States

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