1405 7th Avenue N, St Petersburg, FL 33705

$979,000
4
BD
4
BA
1,656
SqFt
List Price
$979,000
Status
Active
Days on Market
40
Price Change
▼ $4,000 1721718460
MLS#
U8245876
Property Style
Single Family
Year Built
1928
Bedrooms
4
Bathrooms
4
Living Area
1,656
Lot Size
2,039
Acres
0.05
Total Acreage
0 to less than 1/4
Legal Subdivision Name
Bon Air
MLS Area Major
St Pete

Property Description

Charming 4-Unit Multi-Family Property in Uptown St. Pete Producing $6,082 monthly. Step into a prime investment opportunity with this meticulously renovated 2-story multi-family property in the sought-after Uptown neighborhood of St. Petersburg. This charming building blends historic elegance with modern amenities. Fully leased and generating $6,082 monthly, it promises consistent cash flow and long-term appreciation potential. This property offers an excellent ROI with potential for rent increases. As a turnkey investment, all four units are fully renovated with modern finishes, ensuring minimal immediate capital expenditure. Each unit has its own electric meter, simplifying management and making utility costs predictable. Located just minutes from Downtown St. Pete’s vibrant dining, shopping, and entertainment, the neighborhood boasts high rental demand, ensuring low vacancy rates and stable income. Unit 1 is a 1-bedroom, 1-bathroom unit renting for $1,700 per month with 9 months remaining on the lease. Unit 2, on the second floor, is a studio with a separate kitchen and private bathroom, currently renting for $1,507 per month, with an expected renewal at $1,600 per month. Unit 3, also on the second floor, is a studio with a private bathroom, renting for $1,600 per month with 8 months remaining. Unit 4 is a ground-floor studio with a full kitchen and private bathroom, renting for $1,275 per month, also with 8 months remaining. With individual electric meters and modern amenities, property management is streamlined. St. Pete’s growing real estate market promises value appreciation, making this property an attractive long-term investment. Financially, the property an annual gross income of $72,984. With anticipated rent adjustments, the annual income can increase further, enhancing the investment’s profitability. All financial details and lease information provided are accurate as of the listing date. Prospective buyers are encouraged to verify all details and conduct thorough due diligence. Seize this lucrative investment opportunity today and secure your stake in St. Pete’s thriving real estate market!!!

Additional Information

Taxes
$4959
Minimum Lease
No Minimum
Community Features
No Deed Restriction
Property Description
Split Level
Interior Layout
Ceiling Fans(s), Open Floorplan
Interior Features
Ceiling Fans(s), Open Floorplan
Floor
Luxury Vinyl
Appliances
Electric Water Heater, Microwave, Range, Range Hood, Refrigerator
Utilities
Cable Available, Electricity Connected, Phone Available, Sewer Connected, Street Lights, Water Connected
Heating
Electric
Air Conditioning
Central Air, Wall/Window Unit(s)
Exterior Construction
Wood Frame
Exterior Features
Awning(s), Balcony, Dog Run, Lighting, Private Mailbox, Sidewalk
Roof
Shingle
Foundation
Concrete Perimeter
Pool
No Pool
Flood Zone Code
X
Parcel ID
13-31-16-10062-000-0800
Legal Description
BON AIR W 38 1/2 FT OF LOT 80

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of 3 POINT REAL ESTATE SOLUTION.

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