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 offerings a historic 1925 six unit apartment building situated steps from Historic Old Northeast in Flood Zone X.
Description
One of Downtown St. Petersburg's rarest offerings — a historic 1925 six-unit apartment building situated steps from Historic Old Northeast in Flood Zone X. The two-story wood-frame building features 5 one-bedroom/one-bath units plus an efficiency, individually metered electric, and a 2021 roof replacement already complete. Current rents are significantly below the appraiser's concluded value and represent significant income upside with rent stabilization in gross annual potential. Grandfathered 6-unit use under NT-2 zoning protects the income-producing asset in a neighborhood where comparable new supply simply cannot be built. Value-add investors will appreciate the vacancy/rent-up story, the density efficiency, and a location that commands premium tenants with minimal concessions. A genuine value-add play in a submarket that rarely offers one. Dont miss out on the investment opportunity. Contact the listing agent for a duel portfolio marketing plan for this and 247 6th ave n.
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.
