Active

1405 7TH AVE N

SAINT PETERSBURG FL, 33705

$979,000


$591.18 per sqft

Active

4 Beds

4 Baths

1,656 sqft

Residential

Built in 1928

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!!!

U8245876

MLS ID

June 14, 2024

Listed

September 5, 2024

Updated

Map

1405 7TH AVE N
SAINT PETERSBURG FL, 33705

Interior Features

Total Stories

2


Bedrooms

4


Total Bathrooms

4


Full Bathrooms

4


Interior Features

Ceiling Fans(s), Open Floorplan


Appliances

Electric Water Heater, Microwave, Range, Range Hood, Refrigerator


Laundry Description

Common Area, Electric Dryer Hookup, Outside, Washer Hookup


Floor Description

Luxury Vinyl


Fireplace

No


Cooling

Yes


Cooling Description

Central Air, Wall/Window Unit(s)


Heating

Yes


Heating Description

Electric

Exterior/Building Features

Lot Size

0.05 Acres


Exterior Features

Awning(s), Balcony, Dog Run, Lighting, Private Mailbox, Sidewalk


Roof

Shingle


Sewer

Public Sewer

Other Property Details

Area Name

33705 - St Pete


Taxes

$4,960


Tax Frequency

Annually


Days on Market

82


Garage

No


View

No


County

Pinellas


Municipality

31


Water Source

Public


Pool

No

Listing History

Date

Event

Price

7/23/2024

Price change

$979,000

-1%

7/3/2024

Price change

$983,000

-1%

6/21/2024

Price change

$985,000

-1%

Listed by 3 POINT REAL ESTATE SOLUTION
Listing Contact: 727-743-8541 

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Data last updated 9/5/2024, 1:12 PM UTC

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