$1,250,000 USD
945 Crescent Lake Dr N
Saint Petersburg, FL 33701
Crescent Lake
HIGHLIGHTS
- Direct Access To Tampa, Clearwater, and The Gulf Beaches
- 100% Occupied
- Two clearly identified upside levers — activation of vacant on-site storage units ($12,000 of annual income) and mark-to-market on the month-to-month
- Year 3 stabilized NOI of $83,472, a 6.68% cap rate at the list price
- Crescent Lake Apartments sit directly across from Crescent Lake Park, a 56-acre lake and public park
- Downtown Saint Petersburg and the Central Avenue corridor are approximately 1 mile south
FOR SALE DETAILS
PRICE
$1,250,000 USD
PRICE/SF
$376 USD /SF
# OF UNITS
6
PRICE/UNIT
$208,333
CAP RATE
6.1%
% LEASED
100%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Crescent Lake Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1920
PARKING SPACES
5
LAND DETAILS
LAND ACRES
0.15 AC
LAND SF
6,534 SF
ZONING
NT-2
APN/PARCEL ID
18-31-17-73440-000-0140
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