5050 74TH ST N #1 Active Save Request In-Person Tour Request Virtual Tour
St Petersburg,FL 33709
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,409 sqft
Price per Sqft $286
Subdivision St. Pete
MLS Listing ID TB8303107
Year Built 1980
Annual Tax Amount $6,836
Lot Size 0.360 Acres
Property Sub-Type Multi Family
New Construction false
Property Description
10% CAP RATE!!! FOUNDATION REPAIRS COMPLETED!!! ADDITIONAL WATERFRONT LOT INCLUDED!!! ZERO DAMAGE FROM EITHER HURRICANE!!! PHENOMENAL MULTI UNIT INVESTMENT OPPORTUNITY WITH 6 UNITS PRICED FOR AN IMMEDIATE SALE IN A GREAT ST. PETE NEIGHBORHOOD WITH 135Ft OF WATER FRONTAGE!!!! Fully occupied cash generating investment property and all tenants are on MONTH TO MONTH AGREEMENTS!!! 3 two bedrooms 1 bath 2 studio 1 one bed one bath, fully occupied currently, opportunity to renovate units and raise rents. CURRENT RENTS ARE AS FOLLOWS: $1,800, $1,800, $1,800, $1,200, $1,200 $1,150 Total: $8,950 per month and $107,400 total income per year!!! Expenses: $250 per month for water garbage pickup $94 per month, $4,128 annually. Taxes $6,800 annually and Insurance $4,103 annually, never flooded in the last 20 years! Total expenses annually : $15,031 Net annual profit roughly: $92,368!!! Opportunity for laundry in the back, no laundry onsite currently, could be income producing laundry building onsite to be built as ADU type building. Upgraded plumbing 4 years ago Upgraded electrical 4 years ago Air condition 4 years old Central air. 10% cap rate with opportunity to boost to 12-15% cap rate with rent raise and laundry area addition!!!
Location
State FL
County Pinellas
Community St. Pete
Area 33709 - St Pete/Kenneth City
Zoning R-4
Interior
Heating Central
Cooling Central Air
Laundry None
Exterior
Exterior Feature Lighting,Sidewalk
Utilities Available BB/HS Internet Available,Cable Available,Cable Connected,Electricity Available,Electricity Connected,Sewer Connected,Water Available,Water Connected
Waterfront Description Canal - Saltwater,Canal Front
View Y/N Yes
Roof Type Shingle
Building
Foundation Block
Sewer Public Sewer
Water Public
Structure Type Stucco
New Construction false
Others
Acceptable Financing Cash,Conventional,FHA,Owner Financing,VA Loan
Listing Terms Cash,Conventional,FHA,Owner Financing,VA Loan
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8303107