SOUTH SHORE PARK

2318 4th St S Saint Petersburg, FL 33705

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,100,000
Last Verified:
Apr 05, 2022

Highlights

  • Prime 4th Street South Location
  • 10+ Cap Rate
  • 7.13 Gross Rent Multiplier
  • Includes 17,000 sf of Vacant Land on
  • 4th Street S 58K per Door
  • 100% Occupied

Description

Multi-Family Offer in Always Sunny St Petersburg. This Site is On Both Sides of 4th Street South and 23rd Ave South just south of the major intersection at 22nd Ave S. On the East Side of 4th Street at 2318 4th Street South, there is 10 units in three block structures * 8 One Bedrooms and 2 Efficiencys. On the West Side of 4th Street at 414 23rd Ave S, there 9 units in four wood structures * 8 Efficiencys and 1 One Bedroom Plus over 17,000 of build-able vacant land fronting 4th Street. The Property is unique because it is located on both sides of the major North - South Corridor of 4th Street.

The Rents have not been raised for years Current Rent Rolls support a 7% Cap Rate Pro Forma Cap Rate 10%. The Asking Price is 58K per door. Approximately 9,265 sf of structure. Parking and Signage.

The Site is located in the very desirable city of St Petersburg, Florida. The location is only five minutes to I-275 * 4 minutes to downtown * 20 Minutes to Beaches


Year Built: 1957
Building Size: 9265sq ft
Lot Size: 1.26 acres

Map of 2318 4th St S, Saint Petersburg, FL, 33705

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