1. Florida
  2. St Petersburg
  3. 5050 74TH STREET N 1
$975,000

5050 74TH STREET N 1, St Petersburg, FL 33709

  • 3,409 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1980
  • Property Lot Size Icon0.36acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $286/sqft
  • Property List Date Icon Listed 11 months ago

Property Description

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!!!

Listing Status:
Active
Date Added:
September 12, 2024 at 05:00AM
Listing Office:
LPT REALTY : 877-366-2213
Listing Agent:
Steven Sallo : 727-260-2142
MLS ID:
TB8303107
  • General: Ceiling Fan(s)
  • Laundry: None
  • A/C: Central Air
  • Heating: Central

This listing courtesy of Steven Sallo, LPT REALTY

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

S

Seventy - Fourth St. Elementary

3801 74th St N, Saint Petersburg, FL, 33709

Grades PK-5

0.73 miles away

P

Plato Academy of St.Petersburg

3901 Park St N, Saint Petersburg, FL, 33709

Grades KG-8

1.03 miles away

D

Dixie Hollins High School

4940 62nd St N, Kenneth City, FL, 33709

Grades 9-12

1.17 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.