4761 1st AVENUE N ST PETERSBURG, FL 33713
$1,150,000
8 Beds
5 Baths
2515 sqft
MLS#
W7861395
Type
Single Family Residence
Status
Active Listing
Square Footage
2,515
Bedrooms
8
Bathrooms
5 full
Year Built
1925
Tax Amount
$8,539
Property Description
DO NOT APPROACH ANY PROPERTY & DISTURB TENANTS CONFIDENTIALITY AGREEMENT REQUIRED FOR ADDITIONAL INFORMATION *This is an income producing property* Well-established single-family home with an ADU in St Petersburg with a projected $94,745 of Net Operating Income on existing leases in the NTM. Many leases are below market w/ significant rent growth available upon turnover. The property had a full gut renovations in 2021 with new roofs, electricity, plumbing, hvac, kitchens, baths, drywall, cabinets, lighting, pavers and flooring. This property has higher end finishes and have been built to last. This property is located in an area with significant new development activity, and is zoned in the new zoning district NTM-1. This property is best suited for a passive, cash flow oriented investor(s) seeking a stable long term investment in a fast-growing market of St Petersburg, Florida. Property management in place and willing to manage post transaction for 10% of collected rent. Potential buyers must prove financial ability to close and be familiar with valuing property based on cash flow. Seller will give preference to offers with lower loan to value ratios. Seller may consider seller financing with the right legal structure and a minimum of $350k of cash equity and no other liens. Seller is local, believes in the upside potential of this portfolio, is willing to stay involved, and is selling to facilitate retirement.
Cooling:Central Air, Mini-Split Unit(s)
Courtyard
Lighting
Outdoor Shower
Living Room/Dining Room Combo
Thermostat
per month
Principal & Interest
Property Tax
Mortage Insurance
HOA
Home Owners Insurance
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