Property
| Ownership: | Fee Simple |
|---|---|
| Type: | Unknown |
| Lot Size: | 0.1 Acres |
Financials
Price:$1,200,000
Annual Taxes:$12,134.51
Listing Courtesy of SUNSHINEAGLE LLC
One of Downtown St. Petersburg's rarest income opportunities a historic 1925 six unit wood frame building nestled steps from the coveted Historic Old Northeast neighborhood in Flood Zone X.
Description
One of Downtown St. Petersburg's rarest income opportunities — a historic 1925 six-unit wood-frame building nestled steps from the coveted Historic Old Northeast neighborhood in Flood Zone X. The two-story building offers 5 one-bedroom/one-bath units plus an efficiency, all individually metered for electric. A 2021 roof replacement is already complete. Current rents are significantly below appraiser-concluded market value, presenting immediate income upside through stabilization. Grandfathered six-unit density under NT-2 zoning protects a use that simply cannot be replicated with new construction in this submarket. Value-add investors will find a compelling rent-up story, strong tenant demand, and a premium location that commands quality tenants with minimal concessions. A true value-add opportunity in a market that rarely offers one.
Amenities
- Bathrooms
- Dishwasher
- Dumpsters
- Fencing
- Public
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
