5050 74TH STREET N, #1, St. Petersburg, FL, 33709
0 beds
1980
3,409 sqft
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!!!
Status:
Active
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
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Listing courtesy of LPT Realty Phone: 877-366-2213