33-Unit Multifamily Portfolio Multi-Family FOR SALE


Saint Petersburg, FL - Clearvista
$3,615,000 USD
941-444-6160
, Saint Petersburg, FL for Sale
$3,615,000 USD
Multi-Family - FOR SALE
1/10
null | 6.32% Cap Rate

33-Unit Multifamily Portfolio
Saint Petersburg, FL
Clearvista


HIGHLIGHTS

  • 33-Unit / 3 Property Multifamily Portfolio in St Petersburg, FL | Comprised of Two Adjacent Parcels & a Third Less Than a Mile Away
  • Offered as Portfolio or Individually | 12-Unit, 13-Unit and 8-Unit Properties Within a Half-Mile Radius
  • Exceptional Value-Add Opportunity w/ Potential Seller Financing for a Qualified Buyer
  • Massive Rental Upside w/ Govt Subsidized Housing Supporting Rents $600-$900/Month Higher than Current Rent Levels
  • Non-Flood Zone Location (Zone X), Drastically Reducing Insurance Expenses
  • Strongly Positioned Within 10-Minutes of Downtown St Pete and the Gateway Area w/ More Than 2,700 Businesses & 60,000 Employees

OVERVIEW

The Multifamily Firm is pleased to present a 33-unit, 3-property multifamily portfolio in St Petersburg, FL, comprised of 2 adjacent parcels and a 3rd located less than a mile away. Offered Individually or as a Portfolio with potential seller financing for a qualified buyer, the assets include a 12-unit, 13-unit, and 8-unit property, all within a half-mile radius in non-flood zone (Zone X) locations. The offering represents an exceptional value-add play, with substantial rental upside supported by government-subsidized housing programs indicating rents $600–$900 per month higher than current levels. The 3 parcels together span 1.79 acres. Parcel 1 – The Bungalows on 50th consists of 12-units across 9 buildings, including a 3/2 house, 3 duplexes, and 5 bungalows. Parcel 2 – Crissman Drive Apartments features 8-units across 2 buildings, including a 7-unit apartment building with a new roof and an adjacent 2/1 house. Parcel 3 – Sun Cove Apartments contains 13-units across 3 duplex buildings and 7 mobile homes, located directly next to Parcel 2. Positioned just 10 minutes from both Downtown St Petersburg and the Gateway employment corridor, home to more than 2,700 businesses and 60,000+ employees, the portfolio combines strong location fundamentals with multiple avenues for value creation.

ASK ABOUT THIS PROPERTY

Phil GinexiThe Multifamily Firm, LLCMore Info
941-444-6160

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Phil GinexiThe Multifamily Firm, LLCMore Info
941-444-6160

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.