5050 74TH ST N #1, ST PETERSBURG, FL, 33709
$975,000
Residential Income
Bedrooms
9
Bathrooms
6
Living Area
3,409 Sqft
Lot Size
15,494 Sqft
1031 EXCHANGE SPECIAL, INVESTORS BRING YOUR BEST OFFERS!!! 10% CAP RATE!!! FOUNDATION REPAIRS COMPLETED!!! RECENTLY REMODELED!!!! 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!!!
Property Details
Property Features Property Features
MLS ID: MFRTB8303107 Year Built: 1980
Construction Materials: Stucco Cooling: Central Air
Country: US County Or Parish: Pinellas
Exterior Features: Lighting, Sidewalk Foundation Details: Block
Heating: Central Laundry Features: None
Listing Agreement: Exclusive Right To Sell Listing Terms: Cash, Conventional, FHA, Owner Financing, VA Loan
Property Sub Type: Multi-Family 5+ Property Type: Residential Income
Road Surface Type: Asphalt Roof: Shingle
Sewer: Public Sewer Showing Requirements: ShowingTime
Special Listing Conditions: None Standard Status: Active
State Or Province: FL Utilities: BB/HS Internet Available, Cable Available, Cable Connected, Electricity Available, Electricity Connected, Sewer Connected, Water Available, Water Connected
Water Source: Public Waterfront Features: Canal - Saltwater, Canal Front
We love to hear from you