5050 74TH STREET N, #1, St. Petersburg, FL, 33709
0 beds
1980
3,409 sqft
Under contract-accepting backup offers. Back on the market with FOUNDATION REPAIRS TO BE COMPLETED BY END OF FEBRUARY!!! 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 WATER VIEWS!!!! Fully occupied cash generating investment property!!! 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: $1,300, $1,560, $1,500, $950, $1,000, $1,000 Total: $7,310 per month and $87,720 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: $72,689 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 8% cap rate with opportunity to boost to 9-10% cap rate with rent raise and laundry area addition.
Status:
Pending
Type:
Multi-family
Laundry Remarks:
None
Units:
6
Subdivision:
ST. PETE
Heating:
Central
Cooling:
Central Air
Lot Size:
98 x 156
Acreage:
0.36
Est. Taxes:
$6,836
Construction
Stucco
Utilities
BB/HS Internet Available, Cable Available, Cable Connected, Electricity Available, Electricity Connected, Sewer Connected, Water Available, Water Connected
Days on Market:
109
MLS #:
TB8303107
Community Info
School Info
Walk Score
Yelp
Similar Properties
New or Coming Soon Properties
Listing courtesy of LPT Realty Phone: 877-366-2213