4400 1st St N - Apartments FOR SALE


Saint Petersburg, FL 33703- North East Park
$7,750,000 USD
727-643-7713
4400 1st St N, Saint Petersburg, FL for Sale
$7,750,000 USD
Apartments - FOR SALE
1/31
null | 6.24% Cap Rate

4400 1st St N
Saint Petersburg, FL 33703
North East Park


HIGHLIGHTS

  • Solid construction, incredible trophy location
  • No deferred maintenance, fully stabilized building
  • High quality finishes throughout building including central AC and granite countertops

OVERVIEW

31 unit, Northeast St. Pete, fully stabilized concrete block apartment building. Trophy location, superior construction, pride of ownership building. Tulane Apartments is a four story building constructed in 1975, featuring three laundry rooms, two large house storage units, one central elevator (new cab in last 10 years), and security camera system. Walking distance to Whole Foods, two adjacent Publix Grocery Stores, J Crew, and more. Amenities include interior, air conditioned hallways, wireless intercom security entry, and trash chutes on each floor. Off street, divided lane biking and jogging sidewalk out front of building leads directly into downtown St. Pete. Featuring a poured concrete foundation, concrete block partition walls between each individual unit, and suspended concrete floors. All joists and studs are metal; each unit is separately metered for electric. All units have been renovated in the last few years. Every unit features upgraded appliances; every unit has a garbage disposal and dishwasher, and central AC. Extremely desirable unit mix; of the 31 units, (16) are 2 bedroom, 2 bath, (12) are 1 bedroom, 1 bath, and (3) are studio units. Each 2/2 unit features a private, covered balcony. This is the first time this building has ever been for sale on the public market since construction. Features and finishes are high quality- most units feature solid wood, slow close cabinets, all Kohler plumbing fixtures have been installed in last 10 years, and when bathrooms are remodeled, cast iron Kohler soaking tubs have been installed. Stainless steel appliances in most units, featuring wifi stoves and high end top panel dishwashers; vast majority of units feature solid granite countertops with undermount sinks. List price is significantly less than replacement cost- this 31,219 square foot building is priced at $248 a foot, without factoring in land value whatsoever (building sits on 6 lots, totaling 270' x 138.5'). Note that building did not flood during storms of 2024. Truly incredible opportunity to purchase building with no deferred maintenance in a Class A location.

FOR SALE DETAILS

PRICE

$7,750,000 USD

PRICE/SF

$250 USD /SF

# OF UNITS

31

PRICE/UNIT

$250,000

CAP RATE

6.24%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tulane Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1975

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.86 AC

LAND SF

37,374 SF

ZONING

NSM-1

APN/PARCEL ID

06-31-17-92466-003-0110

ASK ABOUT THIS PROPERTY

Jim BlackmonDalton WadeMore Info
727-643-7713

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Jim BlackmonDalton WadeMore Info
727-643-7713

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